- Define your business objectives and mission statement: A clear understanding of your objectives and mission statement helps you make informed decisions and stay focused on your goals. They are blueprints for you and your team members.
- Conduct market research: Understanding your target market and competitors is essential to developing a successful business strategy. Conduct market research to identify market trends, customer needs and preferences, and your competition’s strengths and weaknesses.
- Develop a business plan: A business plan is the roadmap for your business that helps you communicate your vision and holds you and your team accountable. It includes an executive summary, market analysis, sales and marketing strategy, operational plan, and financial projections.
- Build a strong brand: our brand is the face of your business and reflects your mission, vision, and values. Invest in a strong brand image and identity that appeals to your target market and sets you apart from your competitors.
- Assemble a talented team: Building a strong group of team members is essential to achieving your business objectives. Hire people with the passion, skills, and experience to help you reach your goals.
These steps empower you to build a solid business foundation that supports its growth and success. Building a business takes time and effort, but the rewards of having a solid foundation are exponential.
Competitive Advantage
A competitive advantage is what makes potential customers choose you over the hundreds or even thousands of options in the marketplace. The competitive landscape is littered with companies that have innovative products or services which failed because they could not establish their advantage or evolve their advantage to the marketplace. Your current competitive advantage has enabled you to get to where you are but will not necessarily get you to where you need to go.
As a former professional athlete, multi time successful entrepreneur, and father of 4 aspiring athletes Adam House is an expert winner because he hates to lose.
To create a competitive advantage, you’ve must to be clear about the following:
- Target Market: What customers are the best fit for your offering? What problem does it solve for them? You must know exactly who buys from you and how you can make their life better. That’s how you create demand which is the driver of success in business.
- Competition. Identifying your competition and how you compete is one of the first steps to rapid growth. Most businesses stop at the first step but fail at understanding the competitive landscape and what makes their business unique. This prevents them from having a laser-focused vision on communicating that advantage to the marketplace.
- Value: What is the real benefit your product provides? Is it something your customers need to have or is it something they can live without? You must know your product’s features, its advantages, and how they benefit your customers.
Have you identified your target market, studied your competition and identified how you will win, and have a clear way to articulate your value to the marketplace?
Accelerate Growth
Scaling your business is very difficult and trying to do it at a pace that aligns with the expectations of your investors is even harder. It takes relentless effort, laser focus, and most businesses fail trying to do it. Each level of growth requires a different skill set and are you able to evolve to the type of leadership your business needs? Adam has a proven track record in multiple industries of taking ideas from a napkin, turning them into reality, scaling, and leading them to successful exits. Adam is now using these same principles as an Acceleration Expert to empower founders and business leaders to scale their companies.
More With Less
More is not always more, and this rule almost always applies when running a company. Sure, you can hire more sales people, spend more on marketing, more automation, and adding new features to your product but this is almost never the problem and can create long term and expansive damage to your organization. Many CEO’s and business leaders are the most susceptible to “shiny objects” they think will accelerate growth and ultimately make their lives easier. Adam is an expert in helping businesses become more efficient from the ground up by helping raise the acceptable standard, creating accountability, and establishing freedom through consistent discipline
Increasing Enterprise Value
The competitive landscape, customer satisfaction, and employee “buy in” are the main drivers of enterprise value. Often times companies will focus on the short-term bottom line rather than making some initial profit concessions for the long-term value of the company. Increasing value requires an honest review of where the business has been, where it is, and what needs to be done to get it where you want it to go. One of the hardest parts of running a business is admitting you made decisions that didn’t work. Over the past 18 years, Adam has created tremendous value in a relatively short amount of time which has generated significant profits to his shareholders and employees.
