Learn Five Key Business Growth Functions That You Will Always Worry About

Learn Five Key Business Growth Functions That You Will Always Worry About

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May 28, 2023
Business Development, Development
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It does not matter what your business does or the size of your operations for that sense, there are five main core business functions that keep entrepreneurs worried all the time. This means at any given point in your business you have some unanswered questions about any of these five pillars. It then helps to make sure that you have them penned down with clear strategies on how and when to deal with each of these, also how they integrate into a safety net of activities that give you peace of mind. If you are an entrepreneur, you need to know that there are five key business growth functions that you will always worry about knowingly or otherwise, In this blog post, we will explore each of these functions in detail and provide you with strategies to help you achieve success in your business.

Pillar# 1: LEAD GENERATION

(leads are your potential buying clients) Lead Generation deals with how you are getting your leads, and it is important to know where to find your potential leads because that will tell you exactly which methods to use. Do they prefer watching their WhatsApp status? Are they browsing through Facebook Feeds? Do they prefer email sent to them? (it is important to note that Word of Mouth is no longer how it used to be years ago, now word of mouth is how viral your content is on social media and one of the most powerful tools that people do not necessarily pay attention to is WhatsApp messaging service (talk to us on how to optimise this ).

You need to think clearly about how you are getting traffic to your offers which means focusing more on your content strategy. You need to also be very clear about your collaboration strategy-this means you have to set a map of who to collaborate with, what value exactly your business will add to these collaborations, and what exactly is it that you want to extract out of these collaborations and you need to be clear and transparent about this. Lastly, you need to be very aware of your PR visibility strategy and set some parameters on what exactly is worth listening to in your niche and use it vigorously.

Pillar# 2: Lead Nurturing

Lead Nurturing speaks directly to how are you nurturing your leads once they turn into paying clients, how do you build relationships with these people and which parameters are key in you doing this. This must be built in to your business and make sure that all your employees or helpers understand exactly the importance of observing these parameters. You must know exactly what vehicles you use to keep these leads engaged with your content. Maybe you need to be consistent on YouTube, Facebook posting, email marketing or WhatsApp group chats? Knowing who your potential clients are will help you with knowing exactly which channels to focus on.

Pillar # 3: CONVERSION

Conversion focuses on how are you closing your clients, what is your closing rate target. Do you make sales calls? Do you send messages to your leads? how many sales calls you do in a given period of time? Do you need to work on your closing skills? You need to develop a template for this as well. Maybe you may need to develop sales skills to enable you to do this with ease? Whatever the need you need to meet it up as a matter of urgency because without sales you have no business. Having a rough idea of what is your closing rate targets will ensure you keep things exciting in your business at all times.

Pillar #4: Delivery

You need to be clear and consistent on how you make sure you deliver on our promises to your now-paying clients! How long does it take for you to deliver how are you going to make sure your delivery is consistent with or without you present to see the delivery off, which means your staff needs to know exactly the quality standards you set and be trained enough to emulate your passion as an entrepreneur?

You need to have a benchmark on this one to make sure you always improve on this score because this is the only way you are able to build these relationships. You also need to constantly develop a cost-effective delivery method that is easy to follow and track as well as easily scalable.

Pillar # 5: Retention

This is a key outcomes-based activity that needs you to build a resell and upsell campaign in each of your offerings which means you need to have a clear funnel that guides clients exactly how to buy and keep buying from your business.

The funnel keeps your clients circulating and increasing their purchasing decisions as you keep guiding them to more and more items to put on their shopping basket. This is the purpose of our funnel development (talk to us about this), we help you develop a funnel that ensures after you deliver high-value service you have an automated resell and upsell strategy to keep the client on your funnel as long as possible, also ensuring you client has even more leads for you.

Every entrepreneur is trying to fulfill these five points out on a daily basis, the problem is that many are not even aware of what they are working on at any given time and that causes chaos because it is not written down. This affects the mindset tremendously because if you do not know what fires you are fighting you end up thinking of needs these pillars present to you as problems and usually in a negative light which means your response will merely be reactive to what is a problem and your energy will also be negative.

Adopting a clearly written down plan will then give you a clear understanding of what is happening at any given time and the more you are aware what kind of fire you are fighting the better are your chances that you will save time by using the exact tools to deal with that particular challenge.

We also took the opportunity to attach one of our digital affiliate marketing funnel maps designed to understand the client retention and retargeting strategy, check it out and as if you need us to create something similar for your business.

Conclusion

The five main core business functions are essential for any business, regardless of its size or industry. However, many entrepreneurs struggle to keep up with these functions, which can lead to chaos and reactive responses to problems. To ensure that your business is on the right track, it is crucial to have a clearly written plan that outlines your strategies for lead generation, lead nurturing, conversion, delivery, and retention. By doing so, entrepreneurs can save time by using the exact tools to deal with specific challenges. Understanding and focusing on these core business functions can help entrepreneurs build a safety net of activities that give them peace of mind in their business operations.