People keep trying to grow their businesses without getting the foundations right. This leads to costly mistakes and poor performance, so in todays video I wanted to talk about the three things that you really need in place to start the business development journey.
The three things you have to do before you can start growing your business
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Growing your business is a bit like building a house. You’re constructing something, and to do that you really need the right foundations in place. What I want to do is film this video and help people understand what those foundations are and why they’re needed before you can really invest in the growth of your business.
What I’m about to talk about is the ‘Million-Pound Process’ course, which is part of our APEX programme (images included in the video). There are 51 processes that the majority of million-pound businesses have in place. But there are three of the processes that are absolutely essential before you can start growing your business and I will cover these to make sure you’ve got the best foundations to start growing.
First Process: Customer Avatars
A customer avatar is not just about you having an idea of your ideal customer, it’s that you’re actually having a written document of who your ideal customer is; how they behave, how they like to be treated, where they hang out, and so on. The challenge with not having a written document is that you end up trying to attract all kinds of customers. When you sit on the fence about who you’re trying to attract, you don’t take straight-forward actions towards where you want to be, and end up making no progress.
With a solid customer avatar, and you know exactly who you want to deal with, then you gain a clear idea on your marketing so that you can make it really, really specific, and therefore really effective. This saves you money and time by not having to reach out to people that might never be interested. So a buyer persona/customer avatar helps you control your marketing budget better, define your marketing strategy and to create a signature solution.
Second Process: Signature Solution
Understanding the three main problems your ideal customer avatar has and then understanding the root causes of the three main problems, then coming up with the solutions and the milestones that will resolves those problems is how you get your signature solution.
It’s hugely important for attracting the right people and then giving them exactly what they want. We cover a lot more of this on our Million-Pound Process course with APEX (you can learn more about this by clicking on the button above the video).
Third Process: Points Of Culture
These are your values; what your business is, what it stands for and how you expect people to behave in the business, whether they’re customers, whether they’re your team, whether they’re suppliers. The reason you need to have this in place before you do anything else is because it means that when you do start attracting what you think is the right people, you then got a baseline to measure them against. The written points of culture forms an incredibly important part of your team development and recruitment process. The written points of culture are really, really important for that reason.
I can give you a quick example of mine, actually. We’ve got our nine points of culture. It not only explains what they are but explains how we expect people to behave to actually adhere to those points of culture. It’s really important because it means this is the start of you attracting the right kind of people that you want to work with.
The Million-Pound Processes: there’s quite a lot to it. But we do break it all down into bite-size pieces. But even if you don’t have access to the Million-Pound Processes and you’re not on our Apex program, if you had to do three things, it would be those three things. If you do those three things, you’ll be in a really, really good position to start growing your business and building up your business up because, I mean, you’ll start working with the right people. You’ll be able to give them the right solution, and you’ll be able to attract the right members of the team/the right suppliers to actually take your business to the next level.