Gear Up for Growth
Are you dreaming?
The majority of companies today, when asked about what their primary mission is, would say its growth. Growth and success is a dream come true, right? But few will ever really actualize it. Not because they don't know what it is, but rather they don't know how to implement the activities that capture and sustain real growth.
What business wouldn't want to grow? The question almost seems ludicrous. Sounds good on the surface but the water goes much deeper than that. If you are really going to be successful, you have to define what increased business and growth is. Growth at the top line doesn't necessarily mean growth at the bottom line.
It Doesn't Just Happen!
My passion is to help companies frame growth pathways and then pattern how they are going to get there by understanding my personal absolute that says, "Growth is not something that happens TO YOU; it is something that happens as a result OF YOU." And "you" means your organization. Market leaders understand that success comes from making growth part of the culture. Culture means that every department and every activity is anchored in what will contribute to the overall growth goal. Does your repair staff realize that they make a huge contribution to customer growth?
7 Absolutes
I believe we all need to work around what I call 7 Absolutes, 5 Trends and 3 Immediate Steps. We'll look first at the 7 Absolutes.
1. You must identify what the customer buys from you, not just what you sell.
Realize that true growth value comes when you clearly understand your product and then price the benefit of your product, not the specification of it. For example, if you are a distributor, is the true value in the quality of the products you distribute or in the supply chain you manage to insure that your customer has it on the shelf when its needed? The real value is having it on the shelf on time.
2. True market leaders focus on choice - not variety.
Success is not found in everything you provide the customer but the value added choices you bring the customer. For example, a business might boast 60,000 items in their catalogue. But their customers only buy 120 of those. When they buy one of those items, are you prepared to help them buy another complimentary item? That is truly what we call choice. Choice is not multitudes of products, but rather making it easy for your customer to get your products or services efficiently and at a great value.
3. Brand is the name of the game.
Branding absolutely differentiates companies in a crowded and fast paced market place. Everything about you needs to be branded. Even your systems, when branded set you apart in the market place. A number of years ago I spoke at a distribution conference where I created a concept example of branding called "Response 2020". Although it existed only as an example, I received numerous letters from people inquiring about "Response 2020". Why? Because the minute they heard a concise description of something that led them to believe it was a unique process, they were locked in! Is your delivery service branded? Why don't you brand your stocking process? You must "Brand" processes and services as though they are products.
4. The process must be a product in today's marketplace.
Process and services can't be an intangible anymore. It has to be priced, packaged and imaged whether you charge for it or not. So when your commercials say, "We give great service!" you better be able to identify that. If it can't be easily defined and identified in the minds of your customer, then you can't price it.
5. Focus on the real customer.
Transactions are NOT customers. You may have 25,000 people who bought a product from you, but that doesn't mean you have 25,000 customers, you merely have 25,000 transactions. The real customer has to be defined as a repeat, value added, loyal, referral customer cultivated into a community that is consistently treated with your highest level of service.
6. Educate then sell.
The absolute necessity for market growth today is to educate your customer about what it is you do and then sell to their understanding of that.
Statistics show that some 56% of most customers or clients need to be educated on how and why to buy your products and then why to continue to buy from you. Whatever your sales and marketing strategies are, growth comes when you are able to effectively educate your customer.
7. The Culture of Growth
Growth must be part of the culture of your organization. Whether it is cutting costs to gain margin or finding new customers to gain market share or increasing average customer purchase, the culture must be actualized in the sales, department, the marketing department, even the accounting department! As leaders, we must insure that everyone understands the culture and the expectation anchored in that culture, all the way from the cleaning staff to the boardroom.
Not only are there 7 Absolutes to help us "Gear up for Growth", there are 5 Trends we need to understand. In addition there are 3 Immediate Steps we must be ready to act upon. Stay tuned for the 5 Trends - stay tuned for the 3 Steps!
About the Author
 Thomas Winninger, CSP, CPAE, is referred to as America's Business Growth Expert (Strategist)!
"Gear Up for Growth!"
Winninger demonstrates how to Find Clarity, Create Value, Build Cultures of Growth! Winninger shares his 7 Absolutes (Truths) of Growth, 5 Trends (Shifts) you can't ignore! Three Steps to take immediately!
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