Growth problem or strategic shortfall?

For an entrepreneur, growth is an issue that is always top of mind – be it growth of the bottom line, client base, products or profit. In an article posted on Entrepreneur SA’s website, business expert Kevin Mackenzie points out that the response a reaction to lack of growth in a business is almost always to change tactics – a new marketing strategy, increased focus on sales,  geographical expansion or even product extensions. 

Before one looks to these solutions, Mackenzie argues that the underlying reasons for the lack of growth need to be identified and addressed. There are usually a number of factors at play including the following:

•Longer sales cycles

•Price sensitive customers who are seeking better value

Get the job done – even when you just don’t want to

Admit it, we’ve all been there. That project that you haven’t started yet the deadline is looming, that phone call that you need to return but just keep putting off – and let’s not even talk about your neglected intention of exercising at least three times a week.  In an article posted by Heidi Grant Halvorson, a specialist in the field of motivational science, she points out how much less guilt and stress one would feel if one simply got on with the job at hand without procrastinating, not to mention how much happier and more effective we would be. 

Halvorson maintains that you can get over the tendency to procrastinate, simply by using the right strategy. But first – you need to find out why you’re avoiding that task in the first place. The first reason could be that you are what psychologists term a ‘prevention focused’ person. When you are prevention focused, your motivation for completing a task is essentially what could go wrong if you don’t get it done: you’ll lose your job, your credibility, your clients. Essentially, you need to complete tasks in order to avoid loss. In her book, “Focus”, Halvorson points out that research has shown that prevention motivation is enhanced by the anxiety of what could go wrong if you don’t do something – when you’re focused on avoiding loss, the only way to get yourself out of danger is to take immediate action. Halvorson’s advice if this sounds familiar, “scare the pants off yourself’. It may feel awful, but it will get the job done.  

Secondly, your failure to act could be as simple as you just don’t feel like doing it. At this point, your feelings are getting in the way of your productivity – ignore them. For Halvorson, it really is that easy. She believes that while you may not actually feel like doing something, there is nothing physically stopping you. “Remember, you don’t actually need to feel like doing it. There is nothing stopping you,” she says.

Networking for introverts

Being successful in business largely depends on your ability to maximise your strengths. In the competitive world of entrepreneurs and small businesses, this means getting out there and selling yourself, being seen and making the right connections. If the very of thought of networking makes you cringe, help is at hand. In an article posted on Entrepreneur.com, Jacqueline Whitmore provides tips that make networking easy for anyone, and  shows that there is more than one path to success. 

“Visibility is a natural part of networking,” says Whitmore. “However, this doesn’t mean that you need to be the centre of attention.” If you’re more introverted, it’s a good idea to manage your expectations, so if networking events make you nervous – don’t set yourself impossible targets. You don’t need to make 20 contacts and have the entire room roaring with laughter at your witty repartee; one quality conversation is worth more than 20 superficial ones. 

Preparation makes all the difference. Think of some ice-breakers you could use to start conversation. Open ended questions make it easier to keep the conversation going. People love to talk about themselves, so ask them about their businesses, organisations and hobbies.  If you decide prior to an event how long you plan on being there, it makes the commitment finite and far less intimidating. Set a time limit of at least 20 minutes – enough time to get your name tag, have a drink and make conversation with one new person. You’re likely to surprise yourself by staying longer than you initially planned.

Real business success lies in connecting with people

Veteran start-up mentor, Marty Zwilling, recently wrote on Huffington Post that entrepreneurship is more about building a business than inventing a product. It’s about execution as opposed to the quality of an idea and most importantly, being a proactive leader who connects both to his team and his customers. 

In his recent book, “Infectious: how to connect deeply and unleash the energetic leader within”, business coach and author Achim Nowack talks about how today’s technology allows leaders to communicate at a furious pace, tweeting, emailing and texting more than ever before. And yet, too many leaders know less than ever about how to connect and get others to commit to their business or product. 

Zwilling adds that he sees this in his work with start-ups all too frequently – the amount of noise they make does not always equate to the growth of the business or the quality of their connections. In his book, Nowack mentions four levels of communication and maintains that successful entrepreneurs connect most deeply with others at the highest level, with less effort and more results.

Networking for introverts

Being successful in business largely depends on your ability to maximise your strengths. In the competitive world of entrepreneurs and small businesses, this means getting out there and selling yourself, being seen and making the right connections. If the very of thought of networking makes you cringe, help is at hand. In an article posted on Entrepreneur.com, Jacqueline Whitmore provides tips that make networking easy for anyone, and  shows that there is more than one path to success.  

“Visibility is a natural part of networking,” says Whitmore. “However, this doesn’t mean that you need to be the centre of attention.” If you’re more introverted, it’s a good idea to manage your expectations, so if networking events make you nervous – don’t set yourself impossible targets. You don’t need to make 20 contacts and have the entire room roaring with laughter at your witty repartee; one quality conversation is worth more than 20 superficial ones.  

Preparation makes all the difference. Think of some ice-breakers you could use to start conversation. Open ended questions make it easier to keep the conversation going. People love to talk about themselves, so ask them about their businesses, organisations and hobbies.