At BeaconGate, we are all about transforming business, that is why we launched an online coaching academy called Launch, Manage and Grow to help business owners produce a sustainable and profitable business. No matter your business goals, no matter your frustrations, we have the process and the tools to help you build the business you’re dreaming of.
Our SME Club allows you the opportunity to be part of thriving and successful business owners at LMG that opens you to getting your business in order, managing your systems more effectively and re-reinforcing your foundation so you can scale your business with the greatest chance of success.
By signing up for the program, you will have the opportunity of learning proven and time tested methods that will facilitate your entry into the business world and if you are existing business owner, this would further consolidate and enhance your business sustainability.
The program is an intense six (6) weeks online program that can be taken at your convenience whether at the comfort of your home or at any other conducive place where you can explore the learning experience that comes with the additional resource materials such as the fun books and the engaging practical workshops.
Join LMG today to be part of our SME Club.
Top 10 Issues Hindering Growth of SMEs
1. Clear value proposition
What do you offer that your customers value? What customer problems are you helping to solve? Do you know why people buy from you, rather than someone else?
2. Understanding the “why” of your business
You probably know what you do, and how you do things, but also consider why you do things. Knowing why will provide you with passion and drive to succeed and make sure you direct your time and energy into the right areas.
3. Resourcing
Do you have the right staff in the right jobs? This links the following two tips as staff need to understand their role in the business to thrive, and you need to learn to delegate as your business grows.
4. Structure and job descriptions
I have worked with several growing businesses with staff struggling to know their role in the company and understand the company growth plans. Unfortunately, this can lead to a reduction in staff morale, productivity and create a negative impact on the company culture.
5. The art of delegation
Staff are your most valuable asset and understanding when you need to delegate is crucial. Trust can be an issue for business owners here, particularly as most of the business owners I have worked with struggle to delegate and consequently free up time to work on business growth.
6. Understand your finances
Pricing, profit margins and knowing what your accountant does for you. For instance, your accountant will be able to help present your accounts differently to show you are a growth business, and therefore look attractive to investors.
7. Change management
You need to lead the change that growth will bring to the business. Make sure you take your team on your business growth journey. I have supported several companies through significant business growth, but have also seen senior managers left to manage long standing employees who do not fully embrace the change business growth brings.
8. Market research
Is there a market for your new product or service? What do you current customers think about your company? I see many new ideas and how companies feel like they need to offer new products, but most of the time they do not know if there is a market for it.
9. Value of your network of businesses
This cannot be under estimated and I have seen first-hand, how beneficial it is for a business owner to not feel isolated. I work very hard when delivering my programmes to remove this isolation and create a support network of other business owners.
10. Innovation
It is important to try not to ‘rock polish’ everything. If you can, give things a go, as markets (and your competitors) will not wait for perfection.’