A common question all small business owners ask is “Why isn’t my business growing?” or “How do I grow my business?”
The simple answer to this question is that most small business owners do not know precisely what they should do on a daily basis to grow their business.
One simple principle every good business book mentions about how to grow your business is: “What you can measure you can grow”.
Many businesses don’t grow because, simply put, they don’t have a way of measuring its performance on a regular basis. Once you develop a simple metric to measure the Key Drivers of your business and monitor it regularly, it is amazing how those numbers grow automatically.
It is important that you identify the appropriate Key Driver which affects each growth opportunity for your LPO.
The ability to condense the “how” and “why” a business grows into basic metrics is a profoundly exciting way to monitor and grow your business.
Everyone has heard the old adage that we should “work ON the business not IN the business”. Identifying your Key Drivers is the first step. The second step is continually working on growing each and every Driver.
As simple as it is sounds business owners do not do this enough. This is why we believe there is always a great potential to grow any business if you are working together with the right TEAM.
The LPO Advisor