Business Growth
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Business Growth
Business growth is the expansion of the company in different ways; it could be sales, revenue, profits, number of employees, or even number of customers (Mwaniki,2019). The video (How to create a business growth strategy) is very educative and informative in regards to strategies on ways of improving what the business does. The speaker discusses different strategies of how to grow and expand your business from his own experience. He talks about hiring experts to for advice on how to improve the business. He also speaks on the importance of communication when in business-like by when having a vision about your company, it is essential to share with the rest of the company’s staff so that everybody will work as teamwork towards achieving the vision of the company.
Ways I plan to grow my business is by motivating company employees to meet company targets. This could be by rewarding employees who achieve their goals by giving them bonuses; this will improve the expansion of the company. By also providing that required infrastructure and processes are needed by the employees to facilitate growth, this could be providing enough funding, employee training, and automating offices. I would also ensure that I get to know my customer’s needs such that I get to customize my business services and products to fit well; this way, there is continuous growth and improvement of the company’s goods and commodities. It would also encourage customers to give feedback so we know on what to improve or how to serve them better this way the company may be recommended to new customers by the existing clients.
Reference
Mwaniki, L. N. (2019). FINANCIAL LITERACY AND GROWTH OF SMALL AND MEDIUM ENTERPRISES IN NYERI COUNTY, KENYA (Doctoral dissertation, KENYATTA UNIVERSITY).