THE FORM CODE
The greater the demand and the weaker the supply the faster the business growth develops, similar to the simple equation to calculate force which Newton describes in his second law, Force = Mass x Acceleration or F=ma.
There are however other factors that will impact the trajectory of growth in your business which come from shifts in the market that alter what is now deemed as “in demand” and ultimately where supply will come from.
For example just before the last financial crisis, otherwise known as the “credit crunch”, everybody wanted high return investments and accepted the associated high risk. Due to recent financial failings everybody now wants limited risk investments and have to accept the low returns. So although the product that people are now seeking still remains an investment, it has evolved from being a high risk type to a low risk one.
Suppliers and advisors of these high risk investments are now considered as untrustworthy, so customers are seeking alternative sources of supply to go with their new style of product.
So it’s not just about getting your product and service right in the beginning, it’s also adapting your company to suit the market demands and ensure you can continue to supply or you will run the risk of turning what was a high growth business into a declining business as that demand shifts away from you and moves elsewhere.
Demand Meets Supply Starts The Business Growth Cycle
The discovery of demand may come as a result of individuals or businesses falling into a new market through circumstance or by pure opportunity of chance (right place, right time) triggered by a customer request or a specific event occurring. Sometimes its through careful planning using market research which purposely uncovers hidden demand.
To fulfil this initial demand you may develop a product or service from either a technical point of view to meet that demand and evolve your business operations to allow growth to occur, or you recognise the market needs and create the business infrastructure and if required the means to develop a product or service to meet that demand, or find a suitable source of supply.
Either way you’ve identified a need in the market with high enough demand that you can fulfil and you are now at the beginning of your growth cycle.
Moving To A New Plateau To Increase Your Business Growth
For start-ups & younger business who have growth potential, an effective commercial strategy will make a world of difference in the results you achieve both long-term as well as short-term and will ultimately govern the speed your business develops.
Established organisations who’ve already gained a foothold in the market and growth has reached a plateau and need assistance to move the business towards new goals typically have many hidden sales and marketing assets that if uncovered and realigned correctly can bring about rapid changes in growth trajectory.
For the business in turmoil that has a fundamentally sound model, it is often a disconnect with its market or an over reliance on sales and marketing strategies that are not measurable and proven which need to be identified and addressed quickly and systems put in place to improve stability.
Sales and marketing is also a critical tool for taking your business into new territories as it can identify live market changes in demand and provide a closed loop feedback mechanism to your R&D department or product development and supplier selection teams.
To Maintain Your Business Growth Cycle Avoid Sales And Marketing Waste
In the modern world, nothing happens until somebody sells something and that is true of every business, organisation and individual. Without the selling of ideas, concepts, visions and beliefs there would be no identify, co-operation or future of any kind as everything would just grind to a halt.
Most businesses recognise the importance of selling and marketing, however the strategies they end up adopting are fundamentally based on traditional approaches that cost most companies an excessive amount of time and money and in turn create a risky business environment.
When asked about what their advertising does for them in terms of sales results most business owners couldn’t tell you.
For reasons I described above a business can find itself in a place without the right strategy which is probably based on sales and marketing ideas that don’t provide the kind of control, insights and financial return that a sound sales and marketing strategy will deliver.
In an attempt to resolve the situation a business may bring in trainers or marketing partners that advise them to select an approach which appears to make sense on the surface, usually because everybody else is doing it that way, however more often that not it is mainly a cosmetic fix up that doesn’t deliver any real longevity.
What you actually end up with is expensive advertising or promotion or being forced into dealing with complex and inefficient sales processes. Worst of all you start becoming reliant on just a few good people or paying for sales and marketing infrastructure that you just don’t need or constantly educating confused customers that just don’t get what you do or trust your company. So just how the hell is anybody supposed to sell anything with all this going on ?
Sadly, and in many cases much more could be achieved with far less or as manufacturers would say it can be done faster, better and cheaper.
These problems can eventually lead to the untimely death of a business. The numbers of business closures are indeed staggering for both startups and those that were once in the FTSE100 and are no longer.
Growth No Longer Has To Be Elusive If You Understand The Key Principles Behind What Will Maintain Your Business Growth Cycle
The problem is that many of the methods still being employed for selling and marketing just don’t belong in the modern world. Not because of technology, simply because people are more sceptical and overwhelmed with choice while being more informed than at any other time in history.
Sales and marketing has become separated and disjointed. In many cases it’s wrapped around the suppliers business and not around the customer.
The sales and marketing functions should be treated like the human body in more effective medicines and therapies as a complete system. Where you get down to the root cause of the problem and treat it directly, not just the visible outlying symptoms.
This will enable you to focus on what really works and delivers results which directly affects the growth of your business.
Looking at your business like a system will also help you to uncover hidden opportunities and by using a systematic approach to develop your sales and marketing as a whole, activities can be compounded generating larger and faster returns over traditional disconnected or siloed methods.
A Fast Business Growth Cycle Starts With A Systematic Approach Based On Proven Formulas
In manufacturing, systems are used to guarantee quality and cost. In distribution, logistics systems are also used to guarantee supply. So why in business are we not using sales and marketing systems that can deliver real leads, sales and loyalty ?
One of the biggest steps you can take towards achieving sustainable growth is systemising your sales and marketing approach, so that you have repeatable and predictable outcomes that keep the business focused on results, enabling staff to spend time where your biggest returns are for both the customer and you as the supplier.
Sounds simple, yet it’s the one step that is mostly overlooked, avoided and misunderstood because it creates transparency and accountability that most sales and marketing approaches try to avoid and dramatically impacts your business growth cycle.