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This week is all about options for growth.

This week we are looking to the future and the different options for growing your business. There are many different options to grow your business. Before making any plans it is worth going back to your values (from week 2) and seeing if they still hold true.

Your values if they are still accurate should inform any decisions you make about growing your business. You also need to ask yourself if you actually want to grow your business, maybe you are happy with it as it is and that’s also ok.

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If you do decide to grow your business you can do so by:

Scaling your current business activities 

  • Selling more of your existing products or services to existing customers

  • Selling your existing products or services to new customers

Diversifying your business 

  • Selling new products or services to your current customers

  • Selling new products or services to new customers

  • Moving into a new industry 

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Things To Consider Before Growing Your Business

  • What products or services are most profitable?

  • Who is your target customer and how will you reach them?

  • How competitive is the area you are hoping to expand into? Can you realistically compete at a bigger level?

  • What level of growth can your current business processes and assets handle (e.g staff, workspace etc)?

  • Will growth affect staffing requirements and how will this impact your profit margin?

  • Will additional staffing requirements also require additional management time and support and how will this impact your role?

  • Should you aim to grow quickly or strategically?

  • Can you and do you want to take the pressure of growing your business and having more responsibilities and potentially more stresses?

  • Overall make sure you give yourself time to think and make an informed decision that’s right for you and your business.

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In these exercises, we will be asking you to review your values from week 2 and check they are still accurate. We want you to think and question if you want to grow your business?

It's good, to be honest with yourself if you want to grow your business or not. There is nothing wrong with being content with what you are currently doing, be realistic also about your time and financial resources

As you review the last 9 months, it is a great time to reflect on how far you've come, but also what you want for the future. 

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week 33 book

Our book inspiration this week is Outliers: The Story of Sucess

In this stunning book, Malcolm Gladwell takes us on an intellectual journey through the world of "outliers"--the best and the brightest, the most famous and the most successful. He asks the question: what makes high-achievers different?

His answer is that we pay too much attention to what successful people are like, and too little attention to where they are from: that is, their culture, their family, their generation, and the idiosyncratic experiences of their upbringing. Along the way, he explains the secrets of software billionaires, what it takes to be a great soccer player, why Asians are good at math, and what made the Beatles the greatest rock band.

WEEK 33 PODCAST

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This week’s Podcast inspiration is Courage and Spice podcast.

Sas Petherick’s podcast focuses on self-doubt and how it can hold you back in your life, work and relationships. This podcast will help you to cultivate self-belief and give you the strength to face challenges in your life.