Two Main Frameworks for Business Growth
Growing businesses is interesting and really there are two main frameworks and I think most people are stuck in one without necessarily thinking about the other.
So most people are doing what I call incremental growth. This is where people are looking at it from the perspective of how do I get slightly more traffic this month? how do I get slightly more leads? slightly more customers? can I get more traffic from Facebook? can I get a lower cost from Facebook? So here it’s really about growing incrementally.
But, the biggest businesses we work with, we see at times they stop and they think strategically rather than tactically. If you think about it everyone wants the latest tactics, what’s the latest thing we can do with Facebook, what’s the latest thing we can do with Google? But I really learnt from back when I was a strategic architect designing computer networks for banks and insurance companies from a guy called Keith. Kieth was the senior in our team and he used to stare out the window and I use to say to him you know what are you doing, you’re just bludging that kind of thing just to have a go at him.
But Keith would say to me ‘no you don’t understand it young buck – the real money is made or the real progress happens when you just stop think’.
So I learned from that and apply that to my marketing and business growth type space. So instead of just incremental growth, we then look at ok well how can we grow exponentially.
Exponentially is talking about not just how can we grow not just by little increases but how can we massively jump 3X, 5X 10X. We need to start thinking exponentially. So it’s not just about how do we get more traffic or how do we get more conversions, it becomes how do we open up into a whole new market or platform – like Amazon which is enormous – or how do we grow internationally – which is when we expand internationally. Which is what we’re currently working on with our eCommerce brands. It doesn’t have to be international, it can just be interstate if you’re currently in just one state.
It can be things like franchising, like licensing. There is actually a whole framework around it that we teach, we have 14 different ways that we grow businesses exponentially.
So give it some thought with your business. Are you growing incrementally or is it time to stop and think and ask yourself how can I grow exponentially?
I’ll leave it with you. Let me know what your thoughts are on how you’re thinking of changing to grow exponentially in the comments below. Have a great day.
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