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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.
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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
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