When you hear the word 'growth' what do you think of?
I find many entrepreneurs immediately think about the numbers:
- Profit Margin
- List Size
- Open Rate
- Conversion Rate
And while those numbers are a critical part of growth, growth is about so much more than the numbers.
I think so many business owners (including seasoned ones) think that growth will look like this once they are out of the emerge stage and into the growth or scaling stages.
When in reality, the emerge stage is way more volatile that we thought it would be, and when we get into the grow and scale stages, we realize that there are still lots of ups and downs.
Growth is never a straight line.
Every quarter isn't going to be more profitable or more successful than your last, no matter how many years you have been in business.
By now you probably know that I fully believe that you always need to be growing in business, so does that mean that you're not growing when your revenue or profits take a dip?
No, absolutely not. That's just part of the entrepreneurial journey.
Because while the numbers are important, there are other important facets of growth as well:
1. Self Development:
I think it is equally as important you grow as a business leader if you want to build sustainable success in your business. This could look like working with a coach, being a part of mastermind, or simply learning everything you can about being a better leader or operating your business at the next level.
2. Personal Development for Your Team:
What are the skills your team needs to take your business to the next level? Sometimes it's learning a new tool, strategy or tactic, but sometimes it's just as much about them growing as a person and member of the team.
3. Lessons Learned:
We often grow even more by what doesn't go well as we do when things go well. That launch that flopped, that offer you thought was going to be amazing that no one invested in, that big client you were sure was going to work with you that said no at the last minute...
While those experiences can be challenging when they occur, there is so much that we can learn from that can help up grow as a business leader AND grow our numbers. The key is taking the time to reflect and see what you could do differently next time, or what to watch out for next time.
These are my top 3 but there are others as well.
I'd love to know - what else do you consider growth in your business beyond the numbers?
by Crista Grasso
Known as the "Business Optimizer", Crista has the ability to quickly cut through the noise and focus on optimizing the core things that will make the biggest impact RIGHT NOW to grow and scale your business. As a lean business consultant, she specializes in helping businesses gain clarity and focus through strategy, planning, and lean practices. She is the creator of the Lean Out Method and the 90-Day Lean Out Planner, and is also the founder of the global accessories brand Criscara Jewelry.