Jun 16, 2017

Growing Your Business By Tim Hodson

We all know how challenging it can be to grow plants, but it is even more challenging to grow your business in today’s economic environment.

I recently ran across an interesting article on the website www.investopedia.com that serves as a great refresher on some of the things any business should do to be successful.

The key points in the article, “Nine Tips for Growing a Successful Business,” are that business owners must be flexible and willing to adapt to changing conditions and good planning and organizational skills are crucial.

While this may sound like common sense, it is amazing how often it gets lost in the shuffle of trying to do your everyday business tasks.

Do you create a To Do list every day to keep you focused? If you don’t, you probably should. It is the best way to make sure important things never slip through the cracks.

Another recommendation on the list is to always be as organized as possible and keep detailed records. The old adage, “The devil is in the details,” can easily be flipped around because there can be salvation in those details too. If you know where your business stands financially at all times, you can be proactive when facing potential challenges.

Taking risks is scary for anyone. But taking calculated risks can take a lot of the fear out of those decisions. If you can honestly answer the question, “What is the downside of this risk?” then you already know what the worst case scenario is and then you can make an informed decision on whether or not to proceed.

Like I mentioned previously, some of these things seems very basic, but it is always wise to stop for a reality check and look at what you are doing and how you are doing it.

You’re growing plants, are you growing your business?

You can read the entire article and learn about all nine recommendations by clicking here.

— Tim