Are you struggling to promote your business in the world of fierce competition and information overload? Have you tried to differentiate through price, your product or service offering or by targeting a niche,…but your growth is still stagnating or simply non-existent? Yes? Well, it is time to challenge your approach to business growth. Explore three main steps to accelerate your business growth in a smart and fast way.
#1 Switch From WHAT to WHY
Put emphasis on your company purpose and communicate it properly.
The power of the often-promoted unique value proposition (UVP) is slowly but surely diminishing on its value. The key differentiator is no longer what you do and what kind of “unique” product or service you offer, but why you do what you do. To acknowledge the raising “Why revolution” led by Simon Sinek, also businesses have to adapt in regards to what they communicate. So pause here and think: What is your purpose?
Define it. Communicate it. Live it.
#2 Build Thought Leadership
Position yourself as an expert in your field, known for your unique perspective.
Times of pure pushy selling are over. The “1% rule” claims that only 1% of people are actively creating new content. The rest 99%? Well these share/repost or consume such content.
Shocking? Well, not really. In our private or business lives we became heavy content consumers. We get up in the morning checking the news, get a new recipe online for our vegan pancakes, then we check the news for any trends and …voilà, we are using and recycling existing 3rd-party developed content, but don’t engage in our own content creation.
Though Leadership is about becoming a key expert in a specific field or niche. It is about sharing your own and unique personal or business perspective. Your own way of thinking, working or doing whatever you are doing.
Develop content. Share your content. Become a Though Leader.
#3 Look For Partners
Identify synergistic partnerships in order to multiply your growth.
Rather than “knocking on the door” of one customer/client at a time, look for multipliers. Create win-win-win solutions, benefiting not only your company in isolation, but rather a union of companies, driving long-term and sustainable growth. At Fortuny Consulting, we have identified six partner types you should explore:
- Supply Chain Partner – The range of potential partners from within your supply chain, where exclusive deals or unique terms can be explored and negotiated.
- Competitor Partner – The power of combined resources of two organizations aiming for the same goal, having a similar or identical product or service, which can be stronger together.
- Proxi Partner – A company in your neighborhood, in the same location, maybe in the same street, where combined offering or cross-promotion is possible.
- Complementor Partner – A combination of two complementary products/services that would make your offering more attractive and expand your reach if audiences are combined.
- Target Partner – The businesses out there which are neither your competitors nor complementors, but they share the same target and have an established customer network.
- Sparring Partner – A company or an individual that brings a specific gift into your business – if in form of funds, talent or expertise that would strengthen your business by filling in a current gap.
Join forces. Share resources. Build relationships.
