OTE 031: What successful companies KNOW about growing FAST.

Essential Elements for Business Growth

Have you been struggling to figure out what has to come together in order for your business to start showing fast growth? In today’s episode of The Owning The Edge Podcast, we’re going to be talking about THREE ELEMENTS that are ESSENTIAL for your business’s FAST GROWTH.

Understand Who You Love to Serve

We get so fixated on the concept of what we deliver, what our product is, and what our services are that we don’t stop to think about how it’s going to build the business over time. 

But we really just need to step back and look at who it is we love to serve. 

We need to be serving people that we care about so deeply that we want them to win. That’s when we are going to see real value from our services and products. 

If you’re in a space where you have been in the industry a long time, look back at who it is you had a great time with while serving. 

The bottom line is to find out who it is that makes you excited to get to work.

Know There’s Space in Your Industry

If you want a company that will get very big, very fast, you’re going to have to find your niche. 

To have fast growth, you need to dominate the space you’re in.

You have to figure out how to enter the market and be seen as something new, yet also solve a problem your target audience has been dealing with regularly. 

This isn’t something that you can already know. You have to create it.

You can do research and find out what other people are doing. Look at what offers others are making, what promises they are making their clients, and narrow down what is missing.

Know What You Do

This is when you’re going to need to ask yourself some questions:

  • »What is it that you were here to show up and do?
  • »What is it that you CAN do?
  • »Is this something that you want to keep doing?
  • »Can you see yourself in the next five to ten years still doing this?

What you do is one of the hardest things to know because it really gets down to this identity element. Defining what it is you do has a way of seemingly defining who you are. Our identities get wrapped into it, and a lot of times, we start to think that little things aren’t as big of a deal because we don’t want to identify as these little things. 

You have to enter the world that your target customers are in. Be willing to open up and be ready to solve the issues of the people you serve, no matter how small. 

When all three of these elements come together, you care about your audience, want them to win, have a niche and a space to serve, and know what you’re offering; you will see tremendous growth with your company.

Thanks For Listening! 

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Today’s TOP Take-Aways:

  • »Understand Who You Love to Serve [2:02]
  • »Know There’s Space in your Industry [4:08]
  • »Know What You Do [7:35]

Quote:

  • »Your audience are the ones that you love to serve.The ones that you will show up for because you care about them so deeply, that you want them to win.

 

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