2 Ways the SME (Small Medium-sized Enterprises) Business Owners Could Accelerate Business Growth
SME (Small Medium-sized Enterprises) Businesses hold significant potential to grow – in terms of Revenues, Customer base, Geography, Product / Service lines, Customer segments and so on. What’s keeping SME Business Owners from growing to the next level?
The reasons could vary. The most common one is that the SME Business Owners, having found a winning formula to grow from the start-up stage into an SME level, try to Scale up the business further to the next level on the back of their own experience (of having built the business to the SME level). This leads them to encounter a variety of challenges, new and larger, on a daily basis; and slows down the progress on multiple fronts.
How does one evolve, and lead the SME business successfully on to a fast-track growth trajectory? A couple of ways in which the SME Business Owners could accelerate their business growth are:
- Work on a Scale-up Business Model – Scaling-up happens by design. A tried and trusted Scale-up model would come handy for the SME Business Owner to adapt, apply and execute the business growth. It would involve creating a winning Strategy followed by excellence in Execution.
- Enhance the Leadership Impact – As the saying goes ‘what got you here won’t take you there’, the SME Business Owners need to work on their Leadership Presence that’s necessary to take the SME Business to the next level. This would require building heightened awareness and conscious work to enhance one’s Leadership Presence.
SME Business Owners could take the help of a Scale-up Business Coach in the journey, who could add significant value on both these fronts. Working with a CEO Coach, SME Business Owners would be able to choose and work on an appropriate Scale-up model that’s best-suited to their business, and consciously work on enhancing their Leadership Presence.
About the Author:
PK Narayanan, CEO Coach, has been helping Entrepreneurs, Business Owners and CEOs Scale-up their Business, Enhance their Leadership Presence, and position their business for long-term success.
As a business owner, am I prepared to Scale-up?
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