There are thousands, probably tens of thousands of people who will tell you what you’re doing wrong in business. There are some that will give limited advice on what to do right and here at The Business Ninja we give lots practical information which you can use to grow professionally or commercially.
Building a million-pound business is not going to happen overnight. Not likely anyway. It will take dedication, hard work and vision.
We’ve split our strategy into three sections for planning purposes with some useful and easy to remember tips.
Start with a business plan. It doesn’t have to be a 300-page business growth bible that a bank might expect to see. Simply physically note down your objectives, your plan and your exit strategy. This could be as simple as 3 sentences.
Work on the business, not in the business. Find time on a daily or weekly basis to look at how you’re performing. Pull yourself away from working on admin or more mundane tasks to check how things are performing and where your strengths and weaknesses are. A SWOT analysis might be useful here.
Don’t forget to reinvest in the business. This could be investing in people, in stock, or in advertising.
Market the business well. Deal with complaints, service clients and build your brand.
Hopefully, the end is you building the million-pound business. What happens then depends on your exit strategy. Does it mean that you want to sell? Do you want to reevaluate and set new targets?
*Obviously building a business takes time, effort, and vision. These three simple steps will give you some focus if you haven’t started building a business yet but you may also wish to consider some of the following quick tips:
Hopefully, this brief insight will set you on your way to building a million-pound business.
We set up The Business Ninja to create a hub where people from different backgrounds and businesses could share their ideas and expertise.
Hopefully, there are some articles on the site that you find useful, and will help you flourish in your area of business.
Of course, if you have some words of wisdom you want to share, please get in touch and we can add you to our growing list of contributors.