Johannesburg, 15 Mar 2022
Business growth can take on an array of meanings for the individual organisation. The focus on growth might depend on business priorities, goals and the life cycle stage of the organisation. Even the measurement of growth can vary from focusing on revenue to profitability, from assets to geographic footprint or, more common, expanding on the existing portfolio of products and services.
However you choose to measure your business growth, actually driving such growth requires you to develop best practices to assist in achieving it. Changing business practices might sound simple, but when faced with implementing a change and compiling a plan in your organisation, it can become daunting.
There are, however, a few key aspects that are at the heart of every change in business practices, explains Johannes Groenewald, GM Demand Factory at Tarsus Distribution.
“To begin with, it is important to first evaluate the current state of your business. To do this, a company can make use of a SWOT analysis (strengths, weaknesses, opportunities and threats), measured against key performance indicators (KPIs) to audit current position and evaluate performance levels. This will allow the organisation to delineate how their company performs and functions, and how and when goals are achieved. A company can compare their performance data to industry peers and competitors, using these mature assessment tools such as a SWOT analysis to evaluate where improvement is needed,” he says.
“Secondly, it is vital to implement the correct tools. Many businesses, particularly smaller ones, do not have the correct tools in place to empower their staff. These tools can include up-to-date productivity software such as Microsoft Office suite, customer relationship management software, simplistic task management tools and more. Without the correct tools to support their efforts to reach goals and exceed targets, employees will feel demotivated and will struggle to help a business grow.”
Groenewald adds that the business must also motivate employees to make them excited about contributing to the business’ growth objectives. Employees should be aligned with the overall growth of the company, and should be encouraged to continuously invest in themselves. This can be done by the company also investing in its employees, to demonstrate the organisation’s loyalty to them as individuals.
“The smartest way to invest in employees is by assisting them to develop the skills they need to succeed. When employees are offered the opportunity to further educate and upskill themselves, they feel valued. This feeling breeds loyalty in a company.”
“As important as the correct business tools are, after all, an employee with the necessary skill set to do their job effectively is potentially even more important. It should be obvious that employees such as sales representatives, client services and marketing staff need to make use of the newest information and tips.”
Similarly, he indicates, the marketing and advertising environment is one that is constantly changing. With the digital age in full swing, there are always new developments in technology, changing the way in which businesses need to market themselves and their products.
“There are other benefits to providing employees with education when a business is in need of growth. For one, by constantly engaging in educational efforts, employees will naturally be evaluated as they progress and strive to improve themselves and the company. This will allow them to take accountability for areas that are in need of improvement, and will motivate these people to upskill themselves and grow.
“Another benefit is that if employees feel supported, motivated and valued, they will remain at a company. They will have no reason to move and will become more invested in not only their personal growth, but the growth of the business as a whole, as time goes by.”
In addition, suggests Groenewald, when employees consistently participate in growth efforts and are motivated to stay, they will become specialists in their field. This will provide the business with a team that is highly skilled, respected and specialised in their field, which will ensure the success of the business.
“The best part is, with a bit of research you will find that premium training can easily be accessed for free. A good example of free, premium digital marketing training is with HubSpot. The HubSpot Academy offers an expanded portfolio of free online training courses – including digital advertising, digital marketing, customer support, business strategy creation, sales and more – created and presented by industry leaders.
“Ultimately, it is the goal of every business to achieve growth. By ensuring that your employees are empowered with the knowledge to succeed, they will feel valued and be eager to play a role in growing your business, boosting profit and taking the organisation to even greater heights,” concludes Groenewald.
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