When they start their business, many entrepreneurs believe the same growth that they saw the first year will be repeated in the next. Although this is a great goal, it can prove to be unattainable if business owners fail to work hard to ensure continued growth. Randall Castillo Ortega is the founder of RACO Investment, an SME backer in Costa Rica and Panama. He discusses how businesses can achieve their growth goals.
It is important to clearly state the objectives in order to get things moving. The objective of a series of events should be detailed with numbers and points that will help you decide what to do and when. For example, determine how much money is needed to achieve the objective. This will allow the business visionary or customer to accurately address potential financial experts and to sell the idea with certainty.
You can find system contacts with confidence. Castillo explains, “When you move toward new contacts, you need to know exactly what your business is. Then, you should probably transmit the message in a clear and concise organization that can be understood by everyone.”
You can practice with your friends, family and even your children in front of the mirror. A potential association must get you. However, they should understand the business in a similar way to you.
It is important that you organize with “aim.” Your goal should be as true and authentic as possible in the context. Do not pose as a soliciter of money. Instead, be open to showing the contact that you are interested in their participation. Face-to–face communication can prove very powerful.
It’s also important to discover and accept the contributions of coaches, no matter how brief. Peers, business pioneers, educators, and even teachers can all be coaches. Each coach would be able to give another piece of the puzzle. It’s easier to grow a company if you get help from many sources than relying on one.
You should make it your goal to keep the genuine connections you are offered, including those who are in a similar stage of business growth to you. Castillo states that learning should be a constant part of the business’s development objectives.
It is also important to maintain genuine connections with people who are at the same stage of business development as you. “Learning should be an integral part of your business’s development goals,” Castillo says.
It is not enough to have a goal. Your business must know how to achieve it. It is important to start creating the plan early in the year. To test its effectiveness, you should compare it with employees and sounding board members.
The number of companies that were able to experience substantial growth has increased considerably from 2009 until now, despite the COVID-19 pandemic. This trend continues, and entrepreneurs are starting more ventures than ever before. There is a shift in the business landscape, and entrepreneurs who have a clear head, a level mind and can stay focused and disciplined are those who make the most impact.