Starting a business is to one end- being successful and, in the long term, expansion. However, to achieve success, you need a concrete growth strategy as it helps you avoid common pitfalls and reach the set goals. So, how do you create a solid growth plan?
Nicholas Koutlemanis, CEO of Massive Growth Agency shares 7 key elements of a growth plan and how you can leverage them to achieve massive growth in your business. Nicholas Koutlemanis is a successful entrepreneur and the Founder & CEO of Massive Growth Agency, an all-around digital marketing agency that helps entrepreneurs cut through the noise by putting them in front of the right audience. Having been in the digital space for years, Nicholas Koutlemanis's vast experience and approach to digital marketing sets him apart.
Here are 7 ways to achieve massive growth in your experience, as explained by Nicholas:
- Hire the right people
According to Nicholas, hiring the absolute best team is a surefire way to ensure success and growth. Your employee is a major aspect of the business and, to a large extent, determines your business growth. Therefore, arming yourself with the right workers who share a similar vision, work ethics, and a proper understanding of the field are just the right condiment for business success.
- Invest in yourself/business
For the first few years, you are looking to get things right, and this stage isn't a walk in the park, as there are inherent challenges to achieving this. Being financially stable makes expansion easier. Nicholas asserts that reinvesting profits and revenue into your business and yourself is a great growth strategy. It will help you get more work done and scale your venture.
- Focus on social media
Unarguably, social media is the future. With more than half of the global population on social media, Nicholas believes it is the most straightforward, cheapest, and easiest strategy to grow your business. With the right online tools and a solid online brand, you can effortlessly convey your message to your audience and woo your customers into buying into your product/service.
- Research your competitors
The entrepreneurial space is highly competitive, with many competitors vying for your prospects' attention. Nicholas explains the need to stand out from the crowd and carve a niche for yourself.
This means having something unique that distinguishes your brand and closes the current market gap, which is why it is helpful to research your competitors, says Nicholas.
- Re-evaluate and adjust
According to Nicholas, customer feedback is the most reliable evaluation mechanism about the company's service quality and, if used correctly, can positively impact your business growth. He, therefore, admonishes business owners to use these feedbacks, both the negatives and positives, as a tool to improve their marketing strategy.
- Marketing Power
Marketing affects customer acquisition and retention; your marketing strategy will partly determine your growth. Nicholas stresses the importance of understanding your target audience and what methods are needed to get the message across. He emphasizes that this should be done rightly. In his words, "If you are unsure, you can partner with a digital marketing agency to walk you through the intricacies involved."
- Hire an agency to do the hard work for you
A great marketing agency will help you drive positive results and take you from point A to B. Nicholas explains that working with a digital marketing agency gives you more time to focus on other aspects of the business, making it possible to achieve overall success. For example, agencies like Massive Growth Agency handle social media management, brand designs, creative strategy, and web development.
In conclusion, while it is true that there is no surefire formula for success, you can learn a thing or two from people who have walked similar paths. So, as you start your business, the above tips, as shared by Nicholas, are valuable piece of information that can make your journey easier.