grow your business
How to grow your business in 5 steps
As an SME, you are busy with operational matters on a daily basis. You focus on delivering high-quality products or services to your customers. As a result, there is little time left to think strategically about growth. Nevertheless, it is important to make room for developing a growth strategy, despite your busy schedule. Major changes may seem unachievable, but that does not mean that growth is impossible.
You want more turnover and profit, but how do you go about it? With the 5-step method of Creative Union, growing your business becomes feasible and clear. By linking a strong brand to your SME, you can be distinctive compared to your competitors. When you know what your company stands for, it becomes easier to make choices that contribute to your success.
Imagine you are a high-end car dealer. It would not make sense to also start selling cheap cars, because that does not fit the image you have built up. Because the customers who come to you are looking for exclusivity. When they consider cheaper options, they do not think of your company. But if you communicate your brand identity clearly, your customers know what you stand for. That way you attract the right target group and stimulate word-of-mouth advertising.
Below you can read how you can grow your SME business and become a strong brand with five practical steps. Do you need support with any of the steps? Please feel free to contact us.
1. Growing Business with Brand Values
The first step in developing a growth strategy for your business is to discover your brand values. Because brand values determine what makes your business unique and form the basis of your brand identity. Customers feel attracted to brands with clear values. For example, a high-end car dealership can be attractive because the brand exudes safety, innovation and exclusivity.
How do you discover these brand values? Start by comparing your business to brands outside your industry. Ask yourself questions like:
- “If my company were a computer brand, which brand would it be? Apple or HP?”
- “If my company were a sports brand, which brand would fit? Adidas, Nike or Puma?
By making these comparisons, you will get a good picture of what your company stands for. This exercise will help you identify the core values that make you distinctive. Are you having trouble with this step? Feel free to contact us for guidance.
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2. Determine the key brand values for your growth strategy
After discovering your brand values, you create a shortlist. Because growing a business is better when you choose three core values that best fit your business. Discuss these values with your team, so that everyone can agree on them. Because a broadly supported brand identity ensures consistency, both internally and externally. And this is essential for the execution of your growth strategy.
Defining your brand values is crucial. They guide all strategic choices you make. The stronger your brand values are, the easier it becomes to build a distinctive brand that attracts customers.
3. Formulate a mission and vision
Now that your brand values are clear, it is time to formulate a mission and vision. Because you grow a company through a clear mission and vision. With this you give direction to your company and show where you want to go. A well-formulated mission answers the question: Why does my company exist?
For example: “We deliver innovative, safe, and exclusive vehicles that offer customers a unique driving experience.” Your vision statement, on the other hand, answers the question: What does my company stand for? For a high-end car dealership, it might be: “We strive to create ultimate driving comfort and customer satisfaction.”
Your mission and vision, together with your brand values, form a powerful identity. The basis for your growth strategy. Because this makes your company recognizable and helps you to distinguish yourself in a competitive market.
4. Grow your business, choose strategic activities
Growing a business is easier when it has a clear brand identity. Because with a clear brand identity it is easier to determine strategic activities. These activities must align with your brand values, mission and vision. Think about three pillars that promote growth:
- Organization: Make sure your internal processes align with your brand values.
- Innovation: Introduce new technologies that contribute to your goals.
- Communication: Make your brand visible through effective marketing strategies.
Examples: a high-end car dealer can invest in a simulator that allows customers to safely take test drives. He can also implement a customer tracking system to better map needs. By making strategic choices that fit your identity, you build a strong brand that attracts customers.
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5. Implement strategic activities in small steps
Growing your business with strategic changes is best done in small steps that are achievable within your busy schedule. Prioritize and distribute responsibility across your team.
For example, if you want to develop a questionnaire to better understand customer needs, break the process down into steps. Have an employee create a list first, discuss it with your team, and test the questions with a small group of customers. By regularly evaluating and adjusting, you will make incremental improvements that contribute to your growth.
How Creative Union can help you with growth strategy
With the 5-step method of Creative Union you can get started yourself. However, it is nice to get guidance in discovering your brand values, formulating your mission and vision, and choosing the right strategies. Our experts are ready to support you, so that we let your SME grow and flourish.
Contact us at hello@creativeunion.nl and find out how we can help you!
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Growing your business with an SME growth strategy? These customers preceded you: Cookware Company, Royal van Kempen & Begeer, Obbotec , Van den Broek Advocaten
FAQ Growing your business
How can I grow my SME business?
Growing an SME requires a clear growth strategy, which focuses on developing a strong brand identity and determining core values.
Why are brand values important for the growth of my business?
Brand values determine what makes your company unique and form the basis of your brand identity. They help attract the right target group and make strategic choices that contribute to success.
What steps are needed to develop an effective growth strategy?
An effective growth strategy involves discovering your brand values, formulating a mission and vision, and choosing strategic activities that align with your brand identity.
How do I formulate a mission and vision for my company?
A mission and vision give direction to your company and show where you want to go. A well-formulated mission answers the question: Why does my company exist?
What are strategic activities that can grow my business?
Strategic activities that contribute to growth must align with your brand values, mission and vision. Consider strengthening your brand identity, improving customer relationships and expanding your product or service offering.
How can Creative Union help grow my business?
Creative Union offers guidance on discovering your brand values, formulating your mission and vision, and choosing the right strategies to help your SME grow and prosper.