SCALEYOUR BUSINESS
Past Its Plateau
While business owners love constant growth and the excitement of success, the defining moment for every business is how it gets through its plateau, when growth stagnates.A company only has two places to go from this point. It can rise to find new success, or it can crash and burn. Here are three strategies to keep growing after you’ve reached your plateau. Innovation
make may not be in line with the original mission of your company, but they can push your company through its plateau. Many business owners look at a plateau and don’t see the stagnation as a threat. But there is nothing more defining for your business than this moment. While these three strategies can help, if you find your business plateauing, you should immediately call a meeting to define a personalized plan of a personalized plan of attack that works for you and your team.
excellence is developed. It applies to athletes and performers, but it also applies to business. Deliberate practice is a focused methodology of applying directed attention to your issue. Rather than just going through the motions or mindless repetitions, commit to applying yourself to your task. Focus on the quality of what you’re doing, not the quantity — this is key for stagnating companies. By committing to quality work and deliberate practice, your business can create a better product and have a more substantial impact. Revamp Your Business Model In some instances, businesses need to adapt to what is in front of them.This is often referred to as a pivot.You can find new revenue streams by shifting your business strategies.The changes you
Sheer will and work ethic can only take you so far. When you need to push through a plateau, one of the most pivotal qualities is innovation. Finding creative solutions to your company’s issues will help keep your employees energized and open new opportunities. By developing new and exciting ideas, your company will find a whole new frontier of possibilities.The key is understanding which ideas to pursue and which ideas to let go. Not every innovation is going to be great, but by committing yourself to the pursuit of creativity, you can find solutions to transform your business. Deliberate Practice This concept was brought to light by Anders Ericsson. Deliberate practice defines how human
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