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7 steps to accelerate small business growth in 2014

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Every small business wants to grow and be profitable, but in order to expand you need a vision of what you want to achieve and a plan to get you there. Warren Knight a strategic small business growth consultant identifies seven critical steps to accelerate a scalable for long-term growth.

1. Define your target Audience
2. Know your Business
3. Review Performance
4. Set Goals
5. Develop Your Business Growth Strategy
6. Tools and resources
7. Make It Happen

Now is a time to stop strategising and start ‘doing’. It involves spending time, and possibly money, on product development, training, sales and marketing. For many small businesses this is easy to begin with, but it runs out of steam over time as business owners and staff can become side-tracked with other activities. It’s so important to ring-fence time and budget to ensure this doesn’t happen.

Don’t worry if your plan starts small: a phased growth plan is often the best, allowing for resources and demand to scale accordingly. Stable and solid growth comes from a scalable business growth model that expands to the financial capacity of the business.

About Warren Knight; Entrepreneur and Business Growth Consultant

I've been involved in the creative industry for 22 years and for the last seven years I've specialised as a "Business Growth" coach in helping small businesses sell more products and services, through the convergence of Social Media, Digital Marketing and eCommerce.

Winning various industry awards and co-founding two IT companies since 2010. The first being an eCommerce platform, getting £150,000 Seed Investment via "SEIS", valuing the business at £1M in less than two years. The second with a “Start Up Loan”, we've built an online learning platform, teaching people how to setup and use Social Networks for their business.

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7 steps to accelerate small business growth in 2014

  1. 1. 7Steps to Accelerate Small Business Growth Business Growth Warren Knight Tweet me @wvrknight
  2. 2. It’s 1989 Warren Knight
  3. 3. Tell your story Storytelling Storytelling Storytelling If you can’t tell it, you can’t sell it Warren Knight
  4. 4. Mission Statement Warren Knight
  5. 5. Step 1: Define Your Target Customer 1. Who are your existing clients? 2. Your competition 3. Analyse your product/service 4. Choose specific demographics 5. Consider the psychology Who are they? And why do they buy from you? Look for common characteristics and interests. Which ones bring in the most business? Who are their current customers and who are your competitors targeting? Think of a niche market that they might be overlooking Write out a list of each feature of your product or service. Next to each feature, list the benefits they provide • Age • Location • Gender• Income level • Education level • Marital or family status • Occupation • Ethnic background • Personality • Attitudes • Values • Interests/hobbies • Lifestyles • Behaviour How your product or service will fit into lifestyle. Warren Knight
  6. 6. Step 1. Target Customer Your Brand Debbie Warren Knight • 38 Year Old Female • Caucasian • Either works fulltime or part-time for a company and is looking to start their own business or already has just started their own business. • Their business has 1 (2, 3 or 4) employees who are outsourced • Based around the M25 (London) area • Older entrepreneur fed up with their day job - Aspirational. • Has two teenage children who are technically savvy, especially when it comes to social media - has been learning from them but needs to better understand social media from a business perspective. • Income level =Working/Middle class earning £30K+ with Household value of £50K+. • Doesn’t know where to start when it comes to social media • Spends a lot of time at home, working from a laptop/computer • Feels uncomfortable taking the leap into social media in regards to privacy and “where to get started”
  7. 7. Stage 2. Know Your Business Products Price Revenue Model Channel Partners Position / USP Warren Knight
  8. 8. Stage 2. Know Your Business Customer Segment Direct To Customer Channel PartnersVs Value Proposition Personal Service Added Value Community Financial Return Reciprocal Agreement Database Vs Warren Knight
  9. 9. Stage 3. Review Performance Warren Knight
  10. 10. Stage 4. Set Goals Analyse gaps Define topics Key message User goal Keyword research Warren Knight
  11. 11. Stage 4. Set Goals 1. 4 Keywords per meta data 2. 3% Keywords of text on body of page 3. 400 words per blog / Once a week Warren Knight
  12. 12. Step 5: Develop Your Growth Strategy 1. Market Penetration 2. Market Development 3. Alternative Channels 4. Product Development 5. New Products New Customers Sell more to your current customers Open up new markets to sell in to Design new products to sell into your current database Does what is says Warren Knight Sell more to adjacent markets
  13. 13. Step 5: Develop Your Growth Strategy Define Discover Monitor Take Action Measure Warren Knight
  14. 14. Step 6. Tools & Resources Virtual Assistant Analytics Lead Generation Automation Amplification Warren Knight
  15. 15. Step 6: Power of sharing content Warren Knight
  16. 16. Step 7. Make it happen Solve a problem Unique Certainty GrowthVariety Stimulate Significance Love Connect Knowledge Share Contribution Warren Knight
  17. 17. Step 7. Make it happen Mindset Advocate Business Customer Warren Knight
  18. 18. Me Marketing Step 7. Make it happen, be a thought leader Platform Speaking Presentation skills Partnerships Real Time Engagement Listen 1 thing Warren Knight
  19. 19. What challengers are you facing? Investment Business Growth Funding Planning & Development Management Leadership Grants: Innovation Personal Branding Warren Knight
  20. 20. Warren Knight @wvrknight www.warrenknight.co.uk warren@warrenknight.co.uk 020 8123 3730 How can I help? Warren Knight

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