5 Mistakes To Avoid When Creating Your Growth Strategy  

18th May 2009

1. Don’t Ignore Your Heart
   
   Have you ever set goals from an incongruous mindset? You know, when you set a goal because you can, not because it’s your heart’s desire. Although it’s the ‘head’ that develops the strategies and the tactics for growing your business, unless you really focus on what you really want for your business and life, it’s not going to happen.  The heart is where the passion and excitement comes from, so don’t neglect it!
   
2. Don’t Forget About Your Business Model
   
   Start with the end in mind. There are many, many different types of models that you could adopt for your business, but it has to be one that fits in with how you want to work and the lifestyle you want. I think it’s fair to say that most business owners do not think about their business model, and as a result, fail to create a business that enables them. The model is critical.
   
3. Don’t Only Focus on The ‘New’
   
   I constantly see entrepreneurs focusing on the acquisition or creation of ‘the new’. New clients, new products, new services, new business partners, new ideas, new plans and everything else ‘new’. New is good when that’s what the business needs, but look at what you already have inside your business as well. Many times, you can double your revenue from what you have already, if you just take a strategic approach.
   
4. Don’t Neglect Leverage
   
   Leverage can move mountains and create outcomes where 1+1=5!
   
   Leverage opportunities are everywhere so don’t neglect where you can find it and where you can use it when developing your growth strategy. If you took a strategic approach to this, you would find it easy to identify many potential sources that could help propel you to new levels of growth.
   
5. Don’t Underestimate a Fresh Perspective
   
   As the saying goes: if you keep doing the same things, you’ll get the same results. If you want different results, you need a new perspective. Don’t develop your growth plans using the same approach you always do; don’t develop your strategies in isolation and don’t close yourself off from new ideas and new ways of looking at how you could grow your business.

© BOSS Management Group Pty Ltd. All Rights Reserved.

Jenny Stilwell is the founder and Managing Director of BOSSMENTOR®, and creator of the Strategic Growth Blueprint™, a step by step system specifically designed for reinventing how service-based businesses achieve growth. For entrepreneurs wanting to create their own unique model that will increase their income, create new revenue streams, enable them to grow exponentially and provide leverage to create a bigger future, the Strategic Growth Blueprint™ will lead the way to achieving that vision. Visit http://www.bossgroup.com.au/bossmentor-blueprint to learn how to create your own blueprint for growth.