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10 top tips for ambitious entrepreneurs

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So what do high growth companies do that is different from those who experience more modest success?   More importantly what makes them special? Here are 10 tips that will make you grow faster.

  1. Create and craft differentiated propositions that stand out from the crowd – don't compete on price, compete on difference, find your edge.
  2. Develop an effective vision and strategy and execute a practical game plan. Communicate this to the rest of your team. Success is 20 per cent thinking and 80 per cent doing. Strategies evolve by thinking doing and reviewing.
  3. Drive innovation into the processes and functions of your company and always look at doing things differently. Put into place a ‘let’s try it’ mentality.
  4. Embrace change and see it as an opportunity to develop and introduce new propositions.
  5. Build a great team – thinkers, sellers, doers and controllers. Create a culture where values and behaviours are aligned to delivering great service, both internally and externally
  6. Condition your mindset. Coping with the challenges that come with growth means a Believe You Can (BYC) state of mind is vital
  7. Live in the customer’s world and deliver services and products that capture their need and voice. Build long-term relationships and keep coming up with new ideas to address their challenges.
  8. Disciplined systems and processes need to be put in place. KPIs that provide a real time state of business health are vital. Keep your eye on cash and how you finance your company. Get expert help.
  9. Become great at selling and put the sales engine in place. Sales are the lifeblood of any organisation, so sell what you believe in as well as the products and services you offer.
  10. Find connectors that can provide answers to the challenges you face. Getting experienced mentors, coaches and non-executive directors working to raise the bar of performance are an essential ingredient of success.

 

Find out more

Boost Business Lancashire offers a dedicated support programme for start-ups and business under three years old. To apply for a place on the programme, complete our online form or call 0800 488 0057.

Author

John Leach, CEO, Winning Pitch.

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