Are you ready to grow your business – stage 2?

In last weeks blog, we asked you, are you ready to grow your business?  Hopefully you spent 15 minutes considering our customers’ exercise.  If not why not take the time to do that exercise just now. You can access last weeks blog here.  This is the first step we take customers through when we are speaking to them about growing their business.

This week I would like you to consider the strengths and weaknesses of your business. 

They types of things to consider within both are:

  • size of your team

  • your knowledge and experience

  • your customer base

  • your aspirations.

This is a really important exercise when you are considering growing your business. 

Once you’ve completed this exercise you can decide if you need to work on your weaknesses – you may decide not to work on all of them.  If you do then coming up with a plan of action – how quickly do you want to achieve this? – is essential.

This is an exercise you should be considering regularly. 

When you are preparing any proposals it could be beneficial to demonstrate your strengths within these. 

Strengths of small business owners, like you, could include being:

  • Nimble

  • Able to respond quickly to your customers’ needs

  • A specialist in the area you operate.

Remember when you considering selling to the public sector, you would welcome winning low value contracts.  For larger companies some smaller value contracts may be viewed as nuisance contracts.

Remember for goods and services low value contracts can be up to £50,0000 in value.  Bigger suppliers may think of contracts of this size to be a nuisance and therefore not worth their while. Whereas for you winning these could demonstrate considerable growth for your company.    

We recommend taking 15 minutes to carry out this exercise on a regular basis will take you one step closer to being ready to grow your business. 

You can download our Growth Strategy Guide here. This guide takes you through 8 key areas to consider in growing your business. 

If you are interested in growing your business by selling to public sector organisations, then why not join our FREE Facebook Group. 

Join us next week when we take you through the next step in preparing to grow your business. 

Shiona Campbell