Author: PPM Academy

What Goal Setting Implies In Strategic Management

Post author By PPM Academy
Post date November 21, 2022

844 Views

Goals are one of the most important growth strategies in management. Businesses benefit from setting goals in many different ways. Keep in mind that creating effective goals takes time. Also, setting them is a minimal part of what will need to be done to reach them.

Why Goal Setting is Important

Strategic goal setting gives a business and its workers objectives that bring them together. These goals should inspire workers and keep everyone heading down the right path.

In a business, managers should help employees coordinate their tasks. If employees share goals, it will help you keep several projects moving toward completion. When a business uses goal-setting strategies, it may inspire workers to perform at a higher level. Be sure to set goals that are challenging but not overwhelming.

Growth strategies will help you make sure that your staff completes their work on time. This will ensure that your company:

• Meets its deadlines
• Makes the most of market opportunities
• Provides high-quality customer service

How to Set Goals

To set goals, ask questions like:

• What customer need is the company attempting to meet?
• Why is the company attempting to meet the need?
• How is the company going to meet the need?
• What are the company’s risks, strengths, opportunities, and weaknesses?

Use these questions to develop realistic goals. Goals are more than wishful thinking. They are specific objectives that are realistic, quantifiable, and on a timeline. Think of goals like stair steps that lead to a particular mission. Goals turn into the link that brings your mission to fruition.

Be flexible with your goals to modify them in real time. Goals should not be stagnant. Instead, keep them dynamic and developing.

Types of Strategic Goals

Goal-setting strategies may consist of short-term, medium-term, and long-term goals. You can direct them toward various objectives. For instance, you may need to set a financial goal to reach particular monthly, quarterly, or yearly profits.

You might want to set human resource goals like improving team connections or increasing awareness of team diversity. Public relations goals may be something like increasing brand recognition or improving goodwill in certain communities.

When you set goals, it could help you assess the performance of your staff. Consider developing employee goals that support your company’s objectives. You can then measure the performance of your employees against the individual goals that you’ve established.

How the Brain Reacts to Goal Setting

The section of the human brain that needs optimal processing conditions is the prefrontal cortex. This part of the brain takes care of complex problem-solving. It is also the area that learns. The prefrontal cortex recognizes the value of taking action.

When you set goals, your brain is assessing which ones to prioritize. For instance, you might give a list of tasks to one of your employees, but if one task is for the CEO, then the employee is likely to prioritize that task. You can use this to reach your objectives.

Help with Goal Setting in Strategic Management

Goal setting in strategic management will help you keep your team focused and inspired. If you need help, contact me at the Productivity Intelligence Institute.

Reduce Stress

How To Reduce Stress Without Medication

Post author By PPM Academy
Post date November 18, 2022

1,050 Views

Most of us experience anxiety during new or stressful situations. This may include public speaking engagements, during job interviews or when you’re on a first date. This is situational anxiety that fades as soon as you’re out of the situation. If you experience feelings of worry, dread or fear that never leaves you, then you’re likely one of the country’s 40 million adults who have an anxiety disorder.

The great news is that you don’t have to continue experiencing the feelings of anxiety. The less great news is that your doctor may want to treat your anxiety with medication. If you don’t want to take medication for your anxiety, try one or more of these three ways to reduce stress without medication.

1. Begin a Regular Exercise Routine

When you exercise regularly, it can manage anxiety symptoms. In fact, for some people, it could take the place of other types of treatment. Exercise releases endorphins. It also improves your confidence and helps you feel more comfortable in social situations.

You don’t have to workout every day to experience the anxiety reducing benefits of exercise. However, if you decide to try exercise to treat your anxiety, be sure to workout at least five times a week.

2. Change Your Diet

Diet changes may decrease your anxiety. Consider decreasing your intake of caffeine. Avoid ingesting caffeine later in the day or right before going to bed. Caffeine is a stimulator, which means that it speeds up the activity that’s happening in the brain and in the body, causing anxiety.

Drink less alcohol. People sometimes self-medicate their anxiety by drinking alcohol. Some drinkers confirm that they experience fewer anxiety symptoms by reducing their intake of alcohol.

Track your diet to determine if your anxiety is higher after you eat particular foods. According to a study performed in 2019, participants who had more sugar and saturated fat in their diet experienced more anxiety.

While money doesn’t buy happiness, studies show that happiness attracts money!

3. Practice Deep Breathing

Breathing exercises are often helpful for anxiety sufferers. They can be especially beneficial if you hyperventilate when you feel anxious. Try exercises like:

• Square breathing
• Lengthened breathing
• One nostril breathing

For square breathing, exhale. Then, inhale for a count of four. Hold your breath for a count of four and pause for a count of four. Repeat these steps five times.

Lengthened breathing involves counting your regular breath to see how long it is, and then, lengthening it by breathing in for additional counts. Try lengthened breathing for about 10 minutes.

With nostril breathing, plug one side of your nose while inhaling, and then, plug that side and exhale out of the other nostril. Continue by breathing in through the nostril that you just exhaled through and exhaling out of the one you plugged first. Repeat these steps five or 10 times.

Anxiety has a useful purpose for humans, which is to protect us from harm. Since humans are no longer animal prey, we experience anxiety from things like being left out of a friend gathering or failing at a work task.

Reduce Stress Without Medication

You may have to experiment with a few different techniques to reduce stress without medication. Exercise, diet changes and focused breathing are a few ways to eliminate stress naturally.

Increase Productivity

Productivity Secrets of Elon Musk

Post author By PPM Academy
Post date November 17, 2022

1,068 Views

The New Owner of Twitter

Elon Musk recently bought Twitter for $44 billion, and while the buyout has stoked some controversy among the platform’s users, nobody can deny that this is an impressive accomplishment. If you’re like many onlookers, then you probably wonder how Elon Musk could have become so successful that he could afford such a massive purchase. Although Elon Musk comes from a relatively affluent family, he wouldn’t be a multi-billionaire if he didn’t understand the fundamentals of productivity. Like most entrepreneurs, you probably want to emulate Elon Musk’s success, so you need to check out this quick guide to unlock his five most effective secrets to increase productivity.

Address Important Work Early in the Day

A person’s energy gradually declines throughout the day. This is why Elon Musk takes care of the most challenging tasks as soon as he enters the workplace. If you start your day with the easiest tasks, then you simply won’t have the energy necessary to tackle the hardest work at the end of your shift.

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Have Fewer Meetings

When team members attend meetings, they cannot focus on other tasks. With that in mind, you should only schedule a meeting if you’re covering new ground or relaying time-sensitive information. Cutting down on workplace meetings will give your employees more time to fulfill their roles in the company. When employees have more time to complete their work, they can relax, which makes them happier and more productive in the long run.

Maintain Consistent Communication

Everyone in an organization should be aware of the latest strategies and developments that could affect their daily operations. This doesn’t necessarily mean that you should waste your employees’ time with more meetings. Instead, your company’s managers should be more proactive about making calls and sending concise emails to relevant parties as soon as they have something important to communicate.

Write Plainly

According to Elon Musk, fancy business jargon and made-up acronyms only serve to confuse employees and hinder effective workplace communication. When you send emails and post memos, you want everyone to understand what you’re trying to say. Thus, you should make it a workplace policy to write all written communications as plainly and directly as possible to avoid costly misunderstandings.

Know When To Take a Break

It’s okay to step back, relax, and admit that your work is stressing you out. Burnout will severely impact your mental health and bring down the quality of your work, so it’s better to take a break and look for ways to make your job easier. If you or other members of your organization constantly feel overwhelmed, then you should take a close look at your processes, redistribute tasks, and consider hiring more employees to lighten the workload for everyone.

Unlock Greater Productivity Today

Seeing Elon Musk’s success in a wide array of industries, you cannot deny the effectiveness of his productivity secrets. Although you may not agree with everything Elon Musk does or says, his methods are still worth trying out. If you want to increase productivity in your organization, then you need to take a look at our other entrepreneur analyses and productivity hacks today.

Actionable Insights

How To Get Actionable Insights From Data

Post author By PPM Academy
Post date November 16, 2022

780 Views

These days, the most successful businesses don’t make decisions without consulting relevant data. After all, why should managers put the company’s time, funds, and reputation at stake to make decisions that they can’t back up with verified information? You can’t afford to waste your company’s resources on ineffective strategies, so check out this guide on gaining actionable insights from data to improve your organization.

Understand Your Organization’s Goals

Data isn’t very useful on its own. How will employees have any notion of how to use data if they don’t know what the company expects from them? Before you can make the most out of data, your company must have high-quality goals. Setting a target to increase the sales numbers of a certain product by 15% by the end of the quarter is an example of a useful goal. This goal is effective because it’s quantifiable, achievable, and specific. With this goal in mind, sales managers and marketers can analyze sales data, identify common factors among people who use the product, and adjust their marketing strategy accordingly. If your company doesn’t currently have any concrete goals, then you should meet with your most important stakeholders to figure out your organization’s direction as soon as possible.

**The Success Principles**
How to get from where you are to where you want to be.

Know Your Audience

By understanding your audience’s preferences, demographic information, spending habits, and moral values, your organization’s leaders can tailor effective strategies to appeal to them. On top of gathering data based on sales and research, you should also find other ways to collect information about your audience. Do your customers spend a lot of time on a specific social media platform that you could extract data from? Will they respond to email surveys or fill out in-store customer feedback surveys? Which links do they click on your email newsletter? Does your typical customer hate phone calls? You don’t want to engage with your audience in an ineffective or offensive way, so these are all important questions to ask when figuring out how to gather useful data from your customers.

Promote an Evidence-Driven Culture

In daily life, people are used to making decisions primarily based on whims and gut feelings. This way of thinking is fine when someone’s deciding what to do eat for lunch, but the stakes are too high in your company to make decisions without data. Thus, it’s important to place a high value on data in your company’s culture. When team members propose strategies during meetings, they should know to back up their arguments with some kind of evidence. You’ll find that, once evidence-based thinking becomes a cultural norm in your organization, employees at all levels will operate more efficiently and make better decisions.

Data Will Help Your Organization Succeed

Your organization’s leaders can’t base importance decisions on faith alone. For your organization to thrive, you need to know how to set goals, analyze your customers, and use relevant data to craft effective strategies. You’re always looking for new ways to help your company succeed, so take a look at our other helpful articles about gaining actionable insights to bring your company to the next level.

Effective Decision Making — Learn to engage stakeholders at all levels of the organization and execute a comprehensive communication strategy.

Agile Leadership

Why Agile Leadership Is Important

Post author By PPM Academy
Post date November 15, 2022

763 Views

Agile management came about due to the realization that middle management was holding workers back more than helping them succeed. What is agile leadership? It is a style of leadership that aims to make employees more productive.

The Benefits of Agile Management

Agile management encourages better business results. It does this while wasting less resources and time. The leadership model empowers teams, helping them tap into their workforce’s complete power.

Companies that operate under this type of leadership are more able to respond to outside factors. An agile approach lets companies visualize ways to improve their business model. It does this by allowing workers to experiment using enhanced products.

Agile management helps leaders be more responsive at every level. It also supports better communication and increases worker confidence. Under an agile management mindset, there are opportunities for continued learning. Employees will also enjoy more autonomy.

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The Principles of Agile Leadership

The principles of agile management include:

• Working toward better overall engagement levels
• System improvements
• Working to please every client
• Managing the company’s system instead of workers
• Collaboration

How to Develop an Agile Mindset

One of the most important features of an agile mindset is to realize that there is no black and white. Every decision is based on context. When you are facing uncertainty and changing conditions, you won’t find answers in a leadership book.

It’s important to form a mindset that will direct you toward making decisions that align with your personal values and principles. Agile values inspire managers to collaborate with their teams and empower them to make decisions. As an agile leader, you’ll need to consider failures as chances to learn. You’ll also want to nurture trust and mental security in your company.

Welcome an Agile Company Culture

A company’s culture begins at the top. Leaders are not exempt from the corporate culture. Be the model for your company’s agile culture.

A major part of becoming an agile manager is to develop a positive culture. Make sure that culture invests in the people who operate the company.

Determine What Makes Your Company’s Culture Unique

Companies like Google and Apple have cultures that are unique to them. Other companies are unable to recreate their dynamic because every culture is different.

To ensure that your company’s culture thrives, focus on the people, quality, development and values. Agile managers ask their workers to help them create and build the company’s culture. Ask your workers questions like:

• What does the company value?
• What is the best way to make decisions?
• What is the purpose of the company?

Agile managers develop high-performing teams. These teams are successful in complex and unknown environments. As an agile leader, you’ll need to embrace flexible principles to increase competitiveness.

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A High Priority

Many companies are turning to agile leadership. This management model can help a company’s leadership team form fresh mindsets. Agile managers help companies move quicker, push innovation and adapt to a changing atmosphere. For guidance on developing your agile management skills, contact me at the Productivity Intelligence Institute.

Digital Transformation

What Does Digital Transformation Really Mean for Your Company?

Post author By PPM Academy
Post date November 14, 2022

785 Views

Digital access is integral to everyday life in the 21st century. Almost everyone in the world walks around with a computer in their pocket that can connect them with billions of users across the globe at the swipe of a finger. As a consequence of this, customers expect greater speed and efficiency from businesses than ever before. A lack of digital integration will slow your business down and drive potential customers away, so you need to adopt a policy of digital transformation to modernize your organization before it’s too late.

What Digital Transformation Is

Digital transformation is simply the process of integrating digital technologies into your business to solve problems. Because each company has unique needs, the goals and implementation of digital integration will vary widely between organizations. Thus, to avoid wasting time and resources on unnecessary technologies, companies must set out to adopt digital systems with careful planning and consideration.

How Digital Technologies Can Benefit Your Business

Digital technologies have the potential to reduce human error, improve customer service, simplify logistics, and increase productivity for all kinds of businesses. For example, a solar panel installation service’s maintenance department could greatly streamline its processes by adopting the right digital field service management software. Without a digital solution, the department would take much longer to fix a client’s faulty solar panel.

First, a dispatcher would have to call a technician and give them the client’s address. Then, the technician would have to manually enter the address into their GPS, arrive at the location, and check in with the dispatcher. After that, the technician would have to diagnose the problem and call the dispatcher to inform them about a broken component. The dispatcher would then have to order a replacement component or update the inventory if the company already has the right component. Once they’re sure that they have the right part, the dispatcher would have to manually schedule another appointment and repeat the process until the problem is resolved.

A lot could go wrong with this process. The dispatcher could easily order the wrong part or forget to schedule a follow-up appointment. On top of that, the client could grow impatient if the technician has to spend a considerable chunk of their visit on the phone with the dispatcher. A field service management program would diminish the likelihood of human error and significantly speed up the process.

Once the client schedules an appointment, the program will automatically generate a ticket, assign technicians to the job, and give them precise directions to the worksite. Upon arrival, the technician can check in on an app on their phone or tablet, schedule a follow-up appointment, and automatically order the right replacement parts by submitting a basic report from the field. A good field service management program can save a lot of time for everyone in this scenario. The client will be happier, and the technician will be able to help more people during their shift. While your business might not have anything to do with solar panels, this example should provide some insight into how a business can greatly benefit from new digital technologies.

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How To Effectively Adopt Digital Solutions

Before integrating new technology into your business, you must conduct a thorough cost-benefit analysis. Your accounting department, operations managers, and other relative department heads should come together to weigh the pros and cons of any new technology. Don’t just settle for the first solution that you come across. After finding a promising digital technology, you should extensively examine the competition to find the product with the best functionality relative to price for your organization.

Bring Your Company Into the Digital Age

More and more businesses are adopting useful digital technologies to serve their customers and increase productivity. If your organization doesn’t use effective digital technologies, then it will eventually fall behind the competition. You want your organization to stay ahead of the pack, so don’t forget to take a look at our other articles on digital integration to find out how to get the most out of new technologies.

Streamline Processes

Why Streamlining Processes Can Increase Your Performance and Profits

Post author By PPM Academy
Post date November 11, 2022

795 Views

The business world operates at a faster pace than ever before. For this reason, it’s important to ensure that every team, department, and worker in your organization can operate as efficiently as possible. Unfortunately, complex processes can hamper your employees’ efforts and slow your business down. Your company will eventually fall behind if it sticks with the same old ways of doing business, so check out these five important reasons to streamline complex processes.

Fewer Mistakes

Convoluted processes and systems are very prone to human error. The slightest mistake can cost thousands of dollars, put people in danger, and significantly affect your organization’s reputation. By streamlining complex processes as much as possible, you decrease the likelihood of human error in your organization, which leads to higher productivity and more consistent results.

Easy Onboarding

Training a new employee can be a very costly and time-consuming endeavor. This is especially true if your organization has a confusing workflow. Simplifying your company’s processes will allow new team members to hit the ground running, and all employees will have less difficulty helping each other and adopting new roles on the fly.

Adaptability

Crucial aspects of your business can change at a moment’s notice. While your organization’s processes may work well enough in the present, your organization must quickly adapt to sudden market shifts in order to compete. Simple processes are easy to modify and scale, so your company can always adjust to new conditions when managers strive to streamline complex processes.

Happier Workers

Complicated processes waste a lot of time and can be incredibly demoralizing. A happy workforce is a productive workforce, so it’s important to understand your employees’ frustrations with your organization’s current rules and methods. When you simplify an employee’s workflow, they feel less stress, so they’re more willing to put in the extra effort to help your organization succeed. On top of that, employees who enjoy their work are much less likely to search for another job.

While money doesn’t buy happiness, studies show that happiness attracts money! In the Happiness Generator workshop, you’ll learn seven steps to quickly raise your level of happiness that can help make it easier to manifest your every desire.

Better Customer Experience

Streamlined processes tend to result in higher-quality products and quicker deliveries than complex workflows. In turn, customers are more likely to leave high ratings and use your products or services again. If you find that your company has trouble with quality control or customer satisfaction, then you must take a close look at their biggest grievances and simplify your company’s processes accordingly.

Don’t Be Afraid To Modify Your Organization’s Processes

A competitive organization’s processes are never set in stone. To succeed in the modern market, your company must be willing to constantly adapt to new conditions. Change can be scary, but the right adjustments to your organization’s processes can make things easier and less stressful for managers and employees alike. You want to get the most out of your company’s limited resources, so check out our other informative guides on streamlining processes to increase efficiency.

Projects Programs and Portfolios

What is the Relationship Between Projects Programs and Portfolios?

Post author By PPM Academy
Post date November 10, 2022

1,004 Views

Project management has three P’s, which are projects programs and portfolios. What is the relationship between the three P’s? There are significant differences between project, program and portfolio management. However, they must align with or be compelled by a company’s strategies. The three P’s provide different options for reaching goals.

About Portfolio Management

A portfolio contains a collection of projects formed to reach a company’s goals. An organization’s project collection can be created for the whole company or for one of a company’s divisions.

Projects are temporary ventures that feature a start period and an end date. A project is the development of a new service or a product. An example of a project would be a car company developing a new vehicle model. In this case, vehicle designers would be tasked with developing the look of the vehicle while the mechanics would need to develop the engine.

About Program Management

A program is several projects that are related to one another or similar. Program managers oversee these projects in a way that’s coordinated to reach a particular goal.

Program management requires managers to assess and oversee different projects. They do this to determine the best strategy for their organization. Program managers must be comfortable making changes when needed.

Program management gives companies the ability to bring several projects together. They do this to combine costs, optimize the schedule and operate more efficiently.

Managers should be able to determine the best approach for overseeing projects. Program management features tasks like handling resource problems that may impact several projects. They must also align the organization’s strategic direction.

About Project Management

A project is a temporary venture that a project manager oversees to develop a product, result or service. Companies generally have several projects happening simultaneously. Along with this, projects have different needs and goals.

Project management is applying the proper processes, skills, tools and techniques to successfully complete assigned goals. Practices for overseeing a project include:

• Identifying a project’s scope and objectives
• Determining the project’s deliverables
• Planning
• Communicating with team members and other departments
• Keeping track and providing information on a project’s progress
• Change management
• Managing risks

If you follow these project management practices, you are not guaranteed success, but they will help you achieve it.

Working Together

Project managers oversee various tasks in a project. Program managers coordinate the projects that are connected in a program. Portfolio managers handle all, or several, programs for a company. It is up to them to make sure that every program is heading toward the organization’s objectives.

The Relationship Between Project, Program and Portfolio Management

For an organization to work effectively, it’s important for the managers of projects programs and portfolios to understand what everyone’s tasks are. When managers don’t have this understanding, an organization may suffer from miscommunications and confusion. This may cause an initiative to fail. If you need help with the relationship between the three P’s, contact me at the Productivity Intelligence Institute.

This course is designed for Project and Program Managers, PMO Executives, Decision Makers, Consultants, Executives, and project team members who have been tasked with oversight, implementation, and the operations of their organization’s projects and portfolios.

Mastermind

Why Mastermind Groups Work

Post author By PPM Academy
Post date November 9, 2022

845 Views

A mastermind group is a group of people who meet to support one another and learn from each other. And they create better ideas and insight far superior than one person could develop on their on. Great groups include remarkable leaders who are successful and motivated. When group members meet, they work together to solve problems, offer advice and encourage one another to seek their own successes.

How to Start a Group

If you’re interested in beginning this type of group, start the process by making a list of people who you would like in the group. Consider what you’re looking for in the group. Your list can include people who work in different career fields than you or individuals from your same industry.

A group of people from different career specialties offer you insight about other industries while those who work in the same industry as you offer inside knowledge. If you decide to start a group with people in your same industry, avoid inviting direct competitors to your group. It’s important for group members to feel comfortable speaking their mind.

Regardless of the type of people that you choose for your group, invite individuals who offer the most diversity. This will make your group more valuable and help everyone grow.

Select group members carefully. Be sure to vet everyone. That way, you can avoid “firing” a group member who isn’t good for the group. It’s okay to consider people you don’t know very well for the group but get to know them first.

Establish rules for the group. Make sure that group members know what to expect. State what the goals and values of the group are to let potential members make an informed decision about participating.

Possible rules may include:

• Confidentiality
• No fees for referrals
• Honoring group commitments

Confidentiality will ensure that group members feel comfortable sharing information. It’s important to avoid charging referral fees if one member sends business to another member. By not charging fees, members will keep group relationships personal instead of transactional. If you commit something to a group member, be sure to keep it.

What a Group Will Do for You

When you become a member of this type of group, you can expect more:

• Accountability
• Professional feedback
• Collaboration

These types of groups typically end meetings with a plan of action and goals to complete before you meet again. Your group will expect you to reach these goals. When you’re being held accountable, you’ll be more likely to follow through.

Feedback can be tough to receive, but keep in mind that when people in your group give you feedback, it’s coming from successful individuals who you respect. This type of feedback provides enhanced learning, and it will help you grow.

Your group is sure to include people who have unique talents, connections and experiences. When you interact and share the challenges that you’re facing, another group member will probably have advice for you on how to deal with it.

Why Mastermind Groups Work

These groups work because they help members reach their goals. If you need help starting your group, contact me at the Productivity Intelligence Institute.

Growth Strategies

What Are Growth Strategies In Business?

Post author By PPM Academy
Post date November 8, 2022

976 Views

Once small businesses start seeing profits, they usually attempt to increase their sales. Keep in mind that there are techniques that small businesses can use to bring about growth. The technique that a company chooses to use for expansion will be based on its financial standing. You’ll also want to consider the competition and government regulations. Common growth strategies include diversification, product expansion, market infiltration, and acquisition.

Diversification

Diversification is a common growth plan for small businesses. When small companies develop new products for new markets, they are diversifying. This type of strategy is a risky one. If your company decides to go this route, then the development team will need to plan cautiously.

Advertising research is vital under a diversification growth plan. The reason for this is that your company will need to figure out if customers in the new market want to buy your products.

When you’re considering a strategy, you should also consider your company’s culture. Make sure that your company can develop value for its customers. You’ll also need to know what expertise is needed to provide the value and how well your company’s products deliver that value.

Product Expansion

When small businesses decide to expand, they’ll be entering into a market development phase. This phase involves introducing their current product line into a new market. Why do businesses decide to expand? They expand when the competition is squeezing them too tight to grow in their current market.

If a company cannot find a new market, it will not be able to grow. Small businesses may also embrace market expansion if they discover new ways for consumers to use their products. For instance, a small water bottle distributor that typically sells its product to sports teams may find that gyms also use its product.

Market Infiltration

A popular growth strategy for small businesses is market infiltration. When a small business selects market infiltration, it will market more of its current products in its current market. The way that a company can grow using its current product line and market is by increasing its market share.

Market share refers to the percentage of dollar and unit sales that a business contains in a market compared to its competitors. A common strategy for increasing market share is for a company to decrease how much it’s charging for its products.

When you’re beginning a new growth strategy, you’ll want to make sure that your company features a strong culture. This will decrease your turnover rate and lower employee stress levels.

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Acquisition

Some small businesses decide to grow by acquiring another company. When a company chooses the acquisition route, they buy another company to increase its operations. Small businesses use this kind of strategy to increase their product line and break into new markets.

Selecting Growth Strategies

Once you select a growth strategy, follow the steps to obtain new customers and help your company reach its goals. Keep in mind that you may need to combine several growth strategies for expansion. If you need direction or support, contact me at the Productivity Intelligence Institute.