In my previous article, I shared what it takes to embark on an entrepreneurial journey in uncertain times.

Here I will discuss what it takes to be ready for the next level of business growth. The good thing is your drive has got you through to the next phase of your life. Business is happening, if the bullets don’t work, then the swords fly. Enough of seat of the pants style of management, you feel you are not just going to wing it, but rather have smart strategies in place for consistent growth.

What is needed?

The right blend of HR Policies, Marketing and Technology is needed to grow the business. The challenge varies from organisation to organisation. It could be simply mean adding people in an area where the opportunity is. It could be defining the next opportunity for your enterprise in the marketplace. It could be building new capabilities for necessary functions.

That said, the enterprise needs to be built on sound principles and a focused approach. Lets start with demand creating functions.

1. Marketing

Marketing is about communicating your promise to the consumer. If the proposition/product is strong and well communicated, there is a chance of success in the marketplace. It starts with the pain points of your business. That said, a marketing expert is the right person if you need a solution here. One simple guideline is that any marketing promise should reflect the operational reality.

2. HR Policies

Initially they are to be done with from a compliance point of view. However, the right attitude is to treat people as long-term assets. Accountability oriented culture is important. It helps to drive responsibility at the operational level and one can make some progress if one has a genuine concern for an alignment between people and results. It is more about a heartfelt approach along with proper norms for accountability as per industry standard. It helps to have consistent policies at the ground level.

3. Technology

Technology is a saviour in current times. Work related processes are getting more digitised, however that is only part of the equation. It helps to build more optimality in the business and help focus in the right direction from a business issue point of view. This is especially important in times like these whereby growth is slow if you are on a non-digital mode of working as compared to a digital working model. That said, it depends on industry specifics and need of the hour. However, a proactive approach is critical for growth. If you are not ahead of the curve, you are behind it.

Life is about solutions and solutions are about understanding the present and treating it as a gift. The right initiatives bear fruit over a period of time.

Also read: Practical tips for overcoming crisis and enjoying financial freedom

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