There are no easy routes in the entrepreneurial world, to put it simply. Hard work and dedication are the two tools everyone needs to survive and thrive; without them, failure is all but guaranteed. Shortcuts simply don't exist, but an entrepreneur can still follow a few guidelines to push their growth - personal and business alike - forward incredibly fast and with great efficiency. Let's take a look at five hacks to double your growth.
Value Every Relationship
Every person you come across - each single one - is important in some way or another, and the potential relationship with any given individual can offer the next incredible thing necessary to double growth. While not all relationships garner these results (unfortunately, some can become toxic and dangerous to the overall health of a company), it's no excuse to not explore different avenues with different people. Not only will the journey provide a great deal of experience, the entrepreneurial network grows exponentially, netting more resources and higher rates of growth.
Don't Hire Someone If You Don't Understand What They Do
On the client end of things, outsourcing various tasks to other companies can be a massive help when growing a business. After all, no one can do everything on their own; by nature, entrepreneurship is all about helping out and growing together. Blindly hiring outside help, though, can be disastrous, especially when little information is available about who is being hired. Take the time to know who is being hired, what they can specifically do to help, and how they'll go about helping. Staying on the same page in any business relationship is crucial to growth, and access to necessary information makes hiring outside help a drastically less risky process.
Seek Successful Entrepreneurs And Build Mentor Relationships
No great entrepreneur travels their path alone. Mentors help in countless ways, but beyond offering insight and advice, they can be the missing puzzle piece when pushing a startup forward. "As a first time entrepreneur, you're going to be faced with new choices every day, explains Robert Corsentino, Founder at Suits & Tables. "You have two options, rely on your intuition to make an educated decision or rely on others' past experiences to make the right choice. The former takes time and the outcome can be costly. The latter allows for quicker decisions; but it still comes down to you."
Building relationships with seasoned entrepreneurs isn't a new strategy, nor is it a remotely unimportant one, but dial the number on that relationship to eleven. Every piece of advice they offer can open new doors. As a mentor, they're eager to help, and successful students reflect excellently upon them. In this relationship, everyone has the opportunity to grow, making it absolutely paramount to doubling growth.
Never Stop Innovating
"Innovate or die" has become a popular phrase for numerous businesses across the country, and for good reason - without innovation, industries collapse. Maintaining the status quo simply isn't enough; if growth is expected, the mold has to be broken. Finding new venues to solve problems - whether they're B2B or B2C - is the basis for success. Entrepreneurship is all about discovering gaps and bridging them for others. It's how innovation thrives, and satisfaction with any current situation is tantamount to satisfaction with mediocrity. That's not to say that modern industry isn't something incredible to behold, but rather that companies have to continue to innovate to grow.
It's All About Culture
It has been said a million times, and for good reason - company culture matters. It makes teams happier, more productive, and more efficient. "Creating a value-centered company culture is the do-or-die duty of every entrepreneur," says Paul Byrne, President of Razoyo. "Small and quickly-growing organizations are fragile and often composed of individuals with unorthodox backgrounds and ideas. Creating a culture where employees value the diversity of the people they work with and your customers or clients as human beings is often the only chance you have to protect the incubator."
There's not much of an excuse to avoid culture in today's business world, and the benefits go beyond an enjoyable work environment - they extend to every aspect of a company, including financial growth. It's simple logic, too. Positive culture means motivated teams, motivated teams means improved output, and improved output attracts business. Doubling growth takes a lot of effort, but maintaining a strong culture - something that should be done regardless - pushes the process forward quite a bit.