If you want to use simplicity to grow your business, you need to remove complexity.
This means decisions have to be made.
They do not have to be complicated or take a lot of time.
The decisions have to do with the process of elimination.
Elimination has many benefits and is part of using simplicity to thrive and profit.
If we take the objective of growing your business, here is how you can use elimination to see where the right opportunity is.
What options are available?
The first step is to see what options are available for your business.
To grow your business make a list of what you options your business has, such as:
- Get current customers to buy more often
- Get new customers
- Develop a new product or service
It is worthwhile to list all the options up front because it helps the decision making process with other steps.
What resources does your business have?
One you look at the options and have done some analysis you need to see if you have the resources available to pursue one of the options.
For example if you see an opportunity to develop a new product or service, then this will take more time and money versus getting customers to buy more of your range.
By answering this question allows you to start eliminating those that will take more resources than you have available.
What is the timeline?
The timeline for your business growth opportunity will help you eliminate ones that do not fit.
If you are looking for extra growth in the next few months then selecting one that takes a year is not an option. For example, normally it takes longer to get new customers than it would to get customers to buy more often.
Taking into account the timeline will also help you get into action and not procrastinate.
There are other considerations, however looking at these will simplify the process and help grow your business.
Being proactive with elimination helps you get focus to gain additional revenue.