5 Things All Growth-Obsessed Leaders Do

Growth – This is what every business wants, but it’s not a given that all businesses are better than others. The business world requires exponential growth for your company and bottom line, just as the military lifestyle demands you grow in who you are.

Which would you prefer: a stagnant business or one where profits increase by 30, 50, or 100 percent each year? Most business leaders will choose the latter. It’s safe to say.

This kind of rapid growth is not something that happens by chance. It is impossible to wish it would happen. Businesses that are obsessed with growth go out and make it happen. In this article, I will show you how you can do the same.

1. Set clear growth goals

Businesses that are obsessed with growth take goal setting seriously. To find out how much they are making each month and their methods, they do a deep dive into the numbers. They then use that information to set goals for where they want them to be in one month, one quarter, or one year.

These goals aren’t random, empty ones. Growth leaders assess which strategies work and which don’t. If they are to reach their destination, they identify the actions they must take. They may not consistently achieve their goal, but the simple fact that they have a plan motivates them to move in the right direction.

2. Recapture existing customers

Too many business owners are focused on acquiring new customers. Growth-obsessed businesses put as much effort into retaining existing customers.

Sometimes you have to take a leap of faith with new prospects. Repeat customers are a great way to engage with warm leads. This is a more efficient way to work with a higher success rate.

3. Ask for referrals

Customers who have purchase from you before are more likely to do so again. A positive experience with your brand is a strong indicator that they will recommend it to others going through the same problem.

Growth-oriented businesses won’t leave referrals up to chance. They will do everything possible to encourage customers to refer family, friends, and business associates. One landscaping company offers customers $50-100 Amazon gift cards for each referral they make.

This may seem costly, but it is a great way to guarantee a steady stream of warm leads for businesses earning thousands of dollars each project.

4. Create passive income

You only have huge time in a day as a business leader. It can be challenging to achieve the vast growth that larger companies enjoy, even if you have people to whom you can delegate some work too.

It is vital to find passive income streams to supplement your client’s ongoing work. You can double your income potential by creating passive revenue streams.

You have many options to generate passive income. These include ebooks, online courses that you share your knowledge, and subscription-style versions of your service that complement one-off orders or projects.

5. Continue to Analyze and Analyze New Opportunities

It doesn’t matter who your target audience might be or what kind of services you provide. There will always be new opportunities. This could be a new way to reach customers, a competitor going out of business, or even a chance to improve your skills so that you can offer new services.

Matthew Sheridan, the founder and CEO of Nix Sensor, was able to market and create an award-winning colorimeter by tapping into the creativity of his consumer audience. We optimized our product and software by taking industry advice and customer feedback. We were able to improve our product and release our flagship product to tech enthusiasts, designers, and professionals in more than 50 countries.

Businesses that are obsessed with growth are constantly monitoring their industry and the wider business environment to identify potential opportunities and decide if they’re a good fit. You can become an early adopter and have more significant growth potential by taking a proactive approach.

Time to Grow

You are not 100% in control of your ability to grow and expand your business. Changes in markets and customer preferences will always play a part in how much you can increase the bottom line in any given calendar year.

Your efforts, or lack thereof, are what every great leader has control over. You can increase your income by following the lead of growth-oriented businesses and helping you achieve your highest business goals.

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Samatha Vale
Samatha a senior writer for HC's entertainment team. She is an entreprenuer, mother and an excellent writer. She's also an avid reader, music enthusiast and all around inquisitive person - which is just a nice way of saying she's nosy.

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