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BIO Chin a 201 3 - Be ijing Meet Chinese p harma com panies this Nov 11-13 at BI O's China conferencewww.bio.org/biochina Start a 10+2 CBSE School She mford School Franchise Avail able India's Fas test Growing 10+2 chainShemFord.com/Start-School GBS - Com pan y Reg is try HK & Offshore c ompa ny regis try Join us, Virtual Off ice 30% off www.goodwillbs.com Loginor signup  ABOUT| NEWSLET TERS| EVENTS| ADVER TISE | SUBSCRIBE STARTUP GROW LEAD INNOVATE PEOPLE MONEY 870 SHARES | SHARE THIS ARTICL E STRATEGY 7 Tips to S uccessfu lly Grow Your Business BY MICHAEL A. OLGUIN Regardless of the industry you are in, you can be high ly successful if you live by these very simple ideol ogies. Like many business owners, I wasn't born to be an entrepreneur, I never planned onrunnin g a business, and I most assuredly had no experience in successfully growing one. However, over the course of my nearly 21 years of business ownership, I have learned a few things that have helped keep the bumps and bruises to a minimum while maintaining double-digit growth year over year. Regardless of the industry you are in, you can be highly successful if you live by these very simple ideologies: 1. Know what you d o and what you don t do. Some of the best advice I learned early on was don't try to be all things to all people, because it typically means you are not very good at any one thing. As such, I believe that it is a mistake to take on far-reaching service offerings, develop products o utside your comfort zone or expand outside of your target markets just to make a few extra bucks. When youd o that, you jeopardize your true strength to focus on what you may not be successful at and create undo pressures for your team, your budgets, and your company as a whole. 2. Stay focused on the prize . We have always tried to be very strategic in our approach to growth. We set three year business plans, track against those plans, and modify them when necessary. I believe that if you don't set goals you have no way of measuring yourself, your team and your company against some pre-determined objectives. When everyone understands in a very crystal clear way what the overall goals of the organization are, it allows everyone to rally together and take pride in successfully accomplishing them. 3. Remember that peo ple work for people, not companies. VIDEO | ASK GERBER Before You Launch Your Business Idea BY SCOTTGERBER STRATEGY Meet the Small Business Person of the Year BY BILL MURPH Y JR.  Advertisement P a ge 1 o f 5 7 Tips to Successfully Grow Your Business | Inc.com 9/13/2013 http:// www.i nc .com /mi cha e l -ol guin/7-ti ps -to-su cce s s f ull y-grow- your-bus ine s s.html
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7/27/2019 7 Tips to Successfully Grow Your Business

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BIO China 2013 - BeijingMeet Chinese pharma companies this Nov 11-13 at BIO's Chinaconferencewww.bio.org/biochina

Start a 10+2 CBSE School Shemford School Franchise Available India's Fastest Growing 10+2 chain ShemFord.com/Start-School

GBS- Company Registry HK & Offshore company registry Join us, Virtual Off ice 30% off www.goodwillbs.com

Loginor signup ABOUT| NEWSLETTERS| EVENTS| ADVERTISE | SUBSCRIBE

STARTUP GROW LEAD INNOVATE PEOPLE MONEY

870 SHARES | SHARE THIS ARTICLE

STRATEGY

7 Tips to Successfully Grow YourBusiness BY MICHAEL A. OLGUIN

Regardless of the industry you are in, you can be highly successful if you live

by these very simple ideologies.

Like many business owners, I wasn't born to be an entrepreneur, I never planned onrunning a

business, and I most assuredly had no experience in successfully growing one. However, over

the course of my nearly 21 years of business ownership, I have learned a few things that have

helped keep the bumps and bruises to a minimum while maintaining double-digit growth

year over year. Regardless of the industry you are in, you can be highly successful if you live

by these very simple ideologies:

1. Know what you do and what you don't do.

Some of the best advice I learned early on was don't try to be all things to all people, because it

typically means you are not verygood at any one thing. As such, I believe that it is a mistake to

take on far-reaching service offerings, develop products outside your comfort zone or expand

outside of your target markets just to make a few extra bucks. When youdo that, you

jeopardize your true strength to focus on what you may not be successful at and create undo

pressures for your team, your budgets, and your company as a whole.

2. Stay focused on the prize.

We have always tried to be very strategic in our approach to growth. We set three year

business plans, track against those plans, and modify them when necessary. I believe that if 

you don't set goals you have no way of measuring yourself, your team and your company

against some pre-determined objectives. When everyone understands in a very crystal clear

way what the overall goals of the organization are, it allows everyone to rally together and

take pride in successfully accomplishing them.

3. Remember that people work for people, not companies.

VIDEO | ASK GERBER

Before You Launch Your BusinessIdea BY SCOTTGERBER

STRATEGY

Meet the 'Small Business Personof the Year' BY BILL MURPHY JR.

 Advertisement

Page1 of 57 Tips to Successfully Grow Your Business | Inc.com

9/13/2013http://www.inc.com/michael-olguin/7-tips-to-successfully-grow-your-business.html

7/27/2019 7 Tips to Successfully Grow Your Business

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IMAGE: SHUTTERSTOCK IMAGES LAST UPDATED: DEC 10, 2012

MICHAEL A. OLGUIN is the president of Formula PR, a national public relationsboutique with offices in New York, Los Angeles and San Diego. With over 25 years ofexperience, he has represented such high-profile brands as Newcastle, Kashi, and ESPN.@FormulaPR

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Add your comment5COMMENTS

Great article and ends well

"Unfortunately, there is no guarantee for business success". I'm working on a

set of tools to address a bunch of early stage issues startups are faced with

mentioned in this article.0 LIKE| REPLY

DECEMBER 16, 2012 AT 8:55AM

 Jason HamiltonMascioli

Good article. Benchmarking plays

an important role in analyzing Business and to Improvise growth strategies. I

went through a informative whitepaper on benchmarking, which readers will find

useful @ http://bit.ly/Q7tSFn0 LIKE| REPLY

DECEMBER 11, 2012 AT 5:01AM

ramya divya

Its very effective ways to grow

our business.We can be highly successful by reading and learning these ways. Its

awsome to read thsi article. Thanks0 LIKE| REPLY

DECEMBER 11, 2012 AT 3:29AM

Ambreen Sadiq

Great article. But wasn't that:

Left brain strategic logic and right brain creative thinking?0 LIKE| REPLYDECEMBER 11, 2012 AT 12:12AM

Erness Wright-Irvin

Great advice Michael, please

keep it coming.0 LIKE| REPLY

DECEMBER 10, 2012 AT 11:34A

M

 Jerry Cook

FROM THE WEB

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