Large companies around the world are finalizing their business strategies and implementation plans for the next fiscal year. Are you?
The best way to grow your business is to think and act like a much larger business. If you think and act the same way you did last year, you might get the same results…that is, if your competitors remain the same and the economy remains the same and all other external factors beyond your control remain the same. But they won’t.
Before your competitors or customers take control of your business, you must be proactive and take control of your strategy.
Here are some of the results that I’ve helped clients to achieve using my proprietary SME Business Wealth Builder M5 Growth Strategy model:
- Growth and expansion through acquisition of smaller competitors in new markets.
- Growth in revenues and profits through negotiating higher prices with their Fortune 100 customers because they quantified their value and they could show their customer the Return On Investment and economic results.
- Growth through outsourcing complex assemblies to larger companies, thus doubling capacity and sales with no capital expenditure.
- Attracting and retaining professional management who can help to take the company to the next level.
- Shifting management from a reactive, problem-solving, fire-fighting mode (sound familiar?) to a proactive, in control, pursue the plan mode.
- Growth in revenues by eliminating the all-too-common constraints of capacity.
- Growth in your balance sheet, your wealth, and shareholder value by focusing on bottom line improvements instead of chasing top line revenue growth. If you’re not highly profitable now, it’s difficult to increase profitability when you get even busier.
This is my five step model, called the M5 Growth Model. (Yes, it’s named after BMW’s top performance sedan.)
Figure 12.1 The SME Business Wealth Builder M5 Growth Model
The five steps will be discussed in greater detail over the next five issues.
If you need the full model and the outline with all the questions for your strategy sessions now and don’t want to wait over the next few weeks, just send me an email. I’ll send you the M5 model to help get you started on planning for next year.
The five main points are:
- Mindset — it’s about your proactive strategy, the value you provide to your ideal customers, and the quantification of those results.
- Marketing — building awareness of your unique value so the market, and specifically your ideal customers and prospects, become aware of you. Awareness strengthens your brand and generates leads.
- Methodology — this is about the nuts and bolts of your business, how you do what you do. You have lots of internal best practices that are likely hidden or invisible. Find them, formalize them, and reap the benefits.
- Monetization — cash is the ultimate measure or outcome of your business transactions. Cash flows in and it flows out. The timing, speed, and volume of cash flow is critical to your business…and your wealth.
- Management — your leadership team keeps everything focused on the future and working together (or they should). Being proactive instead of reactive will improve your results.
How to get the M5 Growth Strategy Model now
If you want the full SME Business Wealth Builder M5 Growth Strategy model now to help with your planning, and it’s my gift to you, just call at 1-306-992-6177 or click the link, and I’ll send it to you right away. It’s 20 questions and fits on one sheet (yes, it’s two-sided).
Next week, we’ll start on the detailed analysis questions for the first M: Mindset and Strategy.
Thanks for reading!