Effective growth is the product of a number of factors set in motion at the same time. You need a vision for where you want to take your company, a strategy for how to get there, marketing to drum up new business and an ability to turn setbacks into something positive in the long term. While there is no one right way to grow, and while the circumstances that affect the growth of your business might not affect another business in another industry, there are some common concepts to keep in mind as you grow your business. Below, some of the leaders who recently appeared in the pages of Smart Business Orange County share some of their thoughts on how to grow a business.
“You can’t focus on 20 different things. You have to focus on a small number of things and work hard on branding that name. When we go to a dinner or to a Rotary Club meeting, we take a bunch of inexpensive hats with us, and every kid there gets a hat. A lot of people think if you give away hats, they won’t buy them in the store. We don’t care right now. We want to see every kid in Orange County, in the whole Los Angeles area, wearing an Angels hat.”
Dennis Kuhl, chairman, Los Angeles Angels of Anaheim
“Just remember, don’t put your eggs in one basket. As you grow, probably eight out of 10 things won’t work the first time, but the two that do work make up for the eight that don’t. If you try only one thing at a time, when that one thing doesn’t work, you’re six months behind the eight ball again. You’re in an even worse position. That’s why you need to have that multifaceted approach.”
Chad Hallock, co-founder and CEO, Budget Blinds Inc.
“When I was playing in high school, the coach told me, ‘As the quarterback, you have to try to use everybody around you to win the game. You have to use the players around you to win the game.’ My coach wasn’t going to judge me on my statistics. He was going to judge me on wins and losses. It’s the same way running a business, which is why you have to get to know the people around you and try to bring out the very best in them.”
Steve Plochocki, CEO, Quality Systems Inc.
Narrow your area of focus.
Don’t become discouraged when you encounter setbacks.
Utilize your whole team.