It is one thing to start a business. It is another thing, to grow that business to the next level. Having worked with SMME’s and co-operatives over the years, I regularly come across people that are stuck in the start-up phase. While there are opportunities to grow the business, they often struggle with three areas:
1. Business strategy
Entrepreneurs often lack the knowledge, skills and experience to create a growth orientated strategy. If your strategy looks the same as the one that you had in your business plan three years ago, you are unlikely to significantly grow the business. You need to update, even reinvent the business strategy towards growing your client base, offerings and bottom line. Get this wrong, and your business will be spinning its wheels for a long time.
Growth is a blessing and a curse. It is great to finally have clients coming through the door and wanting to do business with you. It is not so-great to find that you don’t have enough equipment, manpower or resources to deliver the goods. Or that your debtors books and stock levels are squeezing your cash flow. Now is the time to explore funding options, that will keep the wheels of your business turning.
3. Marketing & Sales
Just because you grew the business up to the current level with little or no marketing, does not mean that you can grow it further in the same manner. To unlock future growth, you must ramp up marketing efforts, whether you are dealing with business (B2B) or consumers (B2C). In practice, entrepreneurs are overwhelmed with the hundreds of marketing channels, tactics and tools, all promising a customer at the end of the line. Unless you get a new set of marketing wheels for your business, growth will remain wishful thinking.
The Small Business Growth Conference
Given the challenges above, I was excited to come across the Small Business Growth Conference – Cape Town. As indicated in the title of the conference, it is focused on what small businesses need to do to grow their business. The conference covers business strategy, funding, finance, operations and marketing your business. The eight presentations are delivered by an impressive line up of speakers, all focused on growing your business this year. Besides the conference, you can also attend the exhibition on the day and connect with relevant business providers
Read more about the conference over here
Win Tickets to the Small Business Growth Conference – Cape Town
I have two tickets up for grabs, valued at R 990 excl VAT! The winner will be randomly drawn and announced on Thursday, 20 March.
Enter with a Tweet
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