How to develop a business growth mindset

  • 24 Aug 2021

Now is a great time to surge ahead with business growth plans

By James Jones, business advisor, JMJ Consulting

With most Covid restrictions now lifted, now is a great time to surge ahead with those growth plans you put on hold during the dark days of the pandemic.

The conditions for growth are starting to look good, and a wave of optimism is beginning to take hold among many business owners. They see that the cash that has been saved will start to be spent, and they want to be ready and positioned for this spending boom.

Growing your business on the back of this spending boom can be an exciting, yet also scary, proposition. Positioning yourself and your company for growth demands the right mindset. Without this, nothing else matters. So establishing a mindset for growth is the first step towards being ready to take advantage of the increased spending to grow your business, and it’s up to you to make it happen.

 

Here are three things you need to do to tune up your mindset for growth:

Figure out what you want

Clarify your vision for your business. What do you want from your company? What is your dream situation? What is real success for you? What type of growth owner are you – recover and stabilise; scale and grow; or grow, build transferrable value and sell?

Knowing where you are going is critical to your success. Because your business is an asset. It’s an asset to create a dream future for you and your family. It’s the means to get you where you want to go.

Consider your why

Next, what is your why? Why is your vision so important to you? Knowing this is what will get you fired up to keep pushing through the hard times ahead. It is the secret to accomplishing your vision. Keep your why at the centre of your consciousness.

An anchor on a short rope lets a boat drift only slightly before the taut line tugs the boat back toward the centre. Similarly, as you get caught up in the day-to-day whirlwind of running your business, recalling your ‘why’ tugs at you, prompting you to refocus your attention on the strategic-facing activities necessary to achieve your vision.

Think about who you have to become

Now, thinking about your future and what you want to accomplish, and why – the growth, your dream future – to make it a reality, consider who you have to become to make this happen.

You have got to this point because of who you have been and what you are now. But to capitalise on the future growth opportunity – to take your business to the next level – you first have to get yourself to the next level.

 

Think about the abilities you will need to lead growth – reflect deeply. These could include listening more, delegating, simplifying and systemising, and providing more structure. Perhaps it will require you to change your leadership style from telling and directing to a more empowering and collaborative approach to get the best from your employees. Then start being that person today.

Act now

The time is now. The sooner you tune up your mindset for growth, the quicker you’ll be in a position to capture your share of the spending boom and start seeing growth, so act quickly. Now is the right time to grow your company.

 

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