Business Growth: 6 Keys for Understanding Priorities and Where To Focus

Growing your business requires more than just making more money or expanding quickly. It’s a strategic effort that demands clear goals, adaptability, and most importantly, focus.

Verne Harnish’s Scaling Up method emphasises the importance of selecting the right tasks for business growth. By analysing this method, we can see that well-defined priorities are essential for any business to grow in a healthy manner.

Business Growth: 6 Keys To Understanding Priorities

1. The Four Vital Choices in the Scaling Up Method

The Scaling Up method is based on four crucial choices: People, Strategy, Execution, and Cash. These choices are interrelated:

People:

To achieve your goals, you must have the right team. By focusing on acquiring and retaining skilled individuals, they will help turn your vision into reality.

Strategy:

Having a clear plan is critical. A well-defined plan tells you where to allocate your time and resources. Without it, a business may attempt to do too many things and fail to succeed in any of them.

Execution:

Once you have a plan, you must execute it. Ensuring that you do things correctly is just as important as having a plan in the first place.

Cash:

Cash flow is essential to maintain a business. Knowing how to utilize it wisely to aid business growth is crucial.

2. The Importance of Paying Close Attention

Although there are numerous opportunities, attempting to seize them all can overwhelm a business. By focusing on a few tasks and excelling at them, a company can become an expert and stand out.

3. The One-Page Plan

The One-Page Strategic Plan is more than just a tool; it’s a mindset. The concept is to condense a business’s primary goals and plans onto one page. This helps eliminate distractions and concentrate on what’s most important.

4. Regular Check-Ins Keep You on Track

Consistency is vital for growth. The Scaling Up method recommends regular check-ins on a daily, weekly, and quarterly basis. These meetings aren’t just routine; they’re an opportunity to ensure that everyone is on the same page and working towards the same goals.

5. Using Data Effectively

Today we have access to vast amounts of data, but it’s not always clear how to utilise it. The Scaling Up method recommends focusing on a few critical numbers. This way, data can be used to make informed decisions instead of being just a collection of numbers.

6. Discipline Is Essential

No amount of tools or plans will be effective without discipline. Discipline entails adhering to what’s important once you’ve decided on it. In the Scaling Up method, discipline is what keeps a business on track.

In conclusion, there’s a saying: “If everything is a priority, then nothing is.”

The Scaling Up method emphasises this by demonstrating that focus and selecting the right tasks are essential for business growth. As businesses expand, this method serves as a reminder to avoid distractions and concentrate on what truly matters.

If you want the help of a Scaling Up coach at any stage of your business growth goals, book a 20-minute Discovery call with Glenn Marvin to find out what you can do to propel your company towards success.

And if you need some insights on where to start, you can take the Full Scaling Up Assessment, which usually has a cost of $1500, but you can get it for FREE only through the button below.