Seven commandments of business growth for SMEs

Most entrepreneurs are curious of finding success mantras for their businesses. While there are many who learn on the job, there are others who like to learn from others examples.

Emerging entrepreneurs who are still in the starting-up or scaling-up phases of their business can learn from the following commandments of raising a successful enterprise.

Don’t waste your time going after the business which does not align with your business vision
Many growing enterprises fall into the catch of quickly creating cash flow by serving everything that comes their way. Well, this is not a smart move as it generally takes you off your path.

The boss usually decides! Do you know the boss?
Business development efforts keep going on and on and the sales cycle keeps getting longer if you are not focusing on the right person who has the power of decision making. This ensures lesser cost of sales for SMEs. Hence go network with the right people.

Listen, Listen and Listen
When your prospective customer speaks, let him. Listening will do a world of good to you and your business than speaking and trying to justify or explain who you are. SMEs do have to talk about themselves initially as they may not be world class brands, but then you must have a well defined 20 second sharp and precise pitch which clearly states what you want to deliver, what is your USP and what do you bring onto the table and why should your prospect buy you than from your competition.

The client’s objective is more important than yours
From the point of listening emerges this fact. Your services are not meant to be 'sold'. They are meant to suffice your client's business objectives. This stands particularly true for companies which are into marketing services. Not everyone needs an apple and you must know that 'An Apple a day keeps the Doctor away' is only another sentence which someone once said.

A powerful, genuine recommendation is more effective than 500 people on your friends list
In business one powerful recommendation about you and your work is far more stronger than those 500 odd friends you have on Linkedin or facebook, which may or may not serve much purpose.

There’s nothing worse than an unhappy client
Do we need say more on this?

If you get the business, it’s up to you to see that it’s well-handled

Execution is the key. Its the ultimate key. There is nothing more candid one can get on this. If your delivery fails, even if you are the best salesman out there, you will still lose the business, client and the trust and may be your brand in the market tomorrow.

These are experiences derived from different businesses and may not be as exhaustive.