IT IS TIME TO PURSUE BUSINESS GROWTH!
After overcoming the risks and challenges of starting a new business, the business owner’s attention turns inevitably towards growth, winning new businesses, exploring new markets and expanding customer base. With this next phase comes a fresh set of challenges and risks.
In striving to achieve sustainable profitable growth, it is quite easy for business owners to take their eye off business’ fundamental ideals which can leave them undermining and eventually killing their hard-earned growth. In the words of a Stanford University online course, they need to learn the art of “scaling up without screwing up”. Hence, it is imperative to adopt pragmatic business approaches to enable them grow more. Below outline some tips that would help your business to grow:
- INFORMATION TECHNOLOGY IS KEY
The success of a business is essentially dependent on Information Technology (IT). The transformation of the world into a global village by an electronic nervous system of communication has greatly improved all aspects of doing business and as such, businesses that take advantage of this tend to grow.
In today’s world, several IT driven tools abound even for machines and its peripherals that make work convenient and faster as most businesses are time bound to the delivery of goods and services. Social media platforms like Instagram, Pinterest, WhatsApp, LinkedIn, Facebook, Twitter et al can be used by business owners and promoters to grow their businesses as platforms for sales, purchases, advertising, marketing etc.
Understand that your platform is your shop window; it is a representation of your business. Information Technology cannot be left out when talking about growth attainment in doing business.
Written by:
Henry Quartey
Baker Tilly Andah +Andah
Source: Glitz Africa Magazine issue 19
