Episode 04

5 things to upgrade in the growth stage of your business

The challenges and pressures of running a business will change depending on the cycle of business you are in.

 

This is especially true in the growth stage where the framework that you have initiated in the beginning will no longer serve you with a growing client base. 

In this episode, I discuss the five things that are important to consider upgrading when you are undertaking the growth stage in your business. 

  1. Refine your focus

  2. Reconsider your ideal client

  3. Upgrading your systems, processes, and frameworks

  4. Upgrading your customer service experience and service delivery

  5. Review your pricing

 

By understanding and considering these upgrades to your business, you will become better equipped to handle the growth stage effectively and build a loyal and dedicated client base. 

Remember to check out my previous blog on Online Tools for Your Business!

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Topics We Covered:

[1:02]: When you began your business, you were focused on setting everything up which can consist of a sequence of calculated guesses to see what works. However, business challenges change with time and create new pressure systems. 

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[2:00]: It is important to acknowledge that what worked for you in the beginning possibly will not work for you in this new cycle of growth. 

[2:28]: The 1st thing you need to upgrade in the growth stage is to refine your focus. You will be testing your ideas in the beginning but over time you will have a better understanding of what works. Do not to fall into thinking that because you offered a service in the beginning, you will always have to offer that service. You are the boss of your business!

[3:38]: Remember to review your vision, your mission, and your values to tell yourself what you want your business to be! 

[3:59]: These are the four questions you need to ask yourself: #1 What do I enjoy doing or offering? #2 What is profitable? #3 What is the exact problem that I want to solve? #4 What impact do I want to make? 

[5:20]: The 2nd thing you may need to upgrade in your business is the people you work with - who is your ideal client? If there is a clash in the values of your business with the values of the clients you are serving, you can experience significant stress. Experience is the best method to creating the concept of your ideal client.

[7:34]: The 3rd thing you will need to upgrade in your business are your systems, processes, and frameworks. Time is precious, and you will need to create time saving automations and processes in your business to create efficiency. Inefficiency will stop you achieving your next level of growth.

[9:07]: If you do not have solid systems and automations built, it can feel like a big mountain to climb – start small and do not try to do everything in one day! 

[9:29]: Create simple automations that can onboard and offboard clients, and template your emails to save time. There are online tools that are available to you! Look my blog on this subject: https://www.kristyrobinson.com.au/post/b-online-tools-tools-for-your-business 

[10:11]: The 4th thing you will need to upgrade in your business is your customer service experience and your service delivery. Have a step back and consider what you want this to look like. Put the client at the centre of this process and you will generate loyal and valued clients. 

[12:05]: The 5th thing you will need to upgrade in the growth stage of your business is pricing. In the early stages your pricing may be lower than your service delivery is worth. Conduct a price review and consider the value of your service delivery to your client. 

[13:43]: Be aware that if you are priced on the lower end, you may attract a type of client that may not be in alignment with your values. That client may not appreciate what you are delivering and will conflict with the 2nd upgrade of your ideal client. 

Links and Resources

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Hi, I'm Kristy.
Nice to see you here

I have been coaching for many years now, first as a manager coach in leadership positions and now coaching small business owners. 

I don't use a cookie cutter approach, nor do I expect each business owner to be doing and going through the same experiences.

My job is to help  YOU, the business owner, discover the best next step. I listen for clues, I ask questions to get you thinking about different perspectives and I help you