* indicates required

Seven tactics for business success

By James Elliot

SEMLEP Growth Hub

AS a Growth Hub we often sit down with clients and talk about their long-term plans. However, something that is just as important is the day-to-day running of a business and how the tactics you employ for the short-term will influence the long-term success.

Here are seven tactics that will help you on your way to achieving your business goals:

1. Prioritise and Stay Focused

Remember that Rome wasn’t built in a day and a good business needs great foundations too. Focus on short-term goals that slowly and steadily lead you towards your long-term plans.

2. Embrace your expertise

You may be passionate about all areas of your business but what is the area you excel in? Everyone has a skill set or expertise that is a key strength to the business. Embrace and use these skills, understand the skill gaps you have and fill them. Remember, being a jack of all trades is a hard ask so when you need help, get it.

3. Stick to your company’s vision and values

Your vision and values should reflect who you are. Keeping them in mind in all you say and do will ensure the clarity of your vision and values is always reflected. It is an important part of people getting to know who you are as a business.

4. Invest

This should be part of the predetermined plan, but knowing when to do it can be tricky. Assess the risk vs reward and when the time is right put your profits back in to the business to deliver on growth targets.

5. Get and keep the right team

So, you know your areas of expertise and the need to complement them with a solid and diverse team. Once you have got the right team, remember to make them feel valued and reward their efforts whenever possible to keep them working to the best of their ability and loyal to your business.

6. Take a break

It is easy to burn the midnight oil to get things done. Try to take some time away from the business. This will help stop the burn out and keep you fresh and focused when you are working.

7. Ask for help

Even with a great plan and team you’ll need support and advice to help your business grow; whether it be professional services, business support, such as one-to-one meetings with a business adviser, or help accessing finance. SEMLEP’s Growth Hub can offer you the free support of a business adviser and signpost you to get the help you need for your business.

SEMLEP’s Growth Hub is a service of the South East Midlands Local Enterprise Partnership SEMLEP which helps economic growth thrive across the South East Midlands.

Call us on 01604 212696, email or visit www.semlepgrowthhub.com

Companies mentioned in this article

More starting & staying in business articles: