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Four Characteristics of a “Growth Minded” Business

“If You Don’t Evolve, You will Die,” remains a well-known mantra of self-made millionaire and entrepreneurial savant, Marcus Lemonis. What Lemonis, and many other business icons over the years have tried to impress is – if you are not moving forwards, you’re moving backwards. Business owners effectively operating with this mindset will not only reach, but most often, exceed their goals and experience steady, consistent growth.

Is your business “growth minded”? Here are a few characteristics of a truly “growth minded” business culture.

Takes Calculated Risks

The only thing worse than taking a risk and failing, is never taking a risk at all. Businesses that are thriving, didn’t get that way from playing it safe. They are most likely always considering new, exciting ways to improve products, marketing, and messaging. The key to doing this successfully is making these risks calculated. Staying informed, using data and other quantifiable research will help businesses take smart risks, not blind ones.

Brainstorm Regularly

A brainstorm is just that – a storm of ideas whirling inside the brain, then they are tossed out in to the world to be considered and possibly executed. Businesses that are big on brainstorming are naturally then big on executing new, exciting ideas. The most effective brainstorming sessions are often those that take place in the midst of a mixed group of executives, management and entry-level employees. Each group comes to the table with a unique experience, offering another group a different dynamic to consider. It also helps to provide food!!

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Employees Before Customers

This concept is counter intuitive – Except it’s not. Taking care of employees is the best way to take care of customers, hands down. An employee that gets up, happy to come to work everyday, pleased with their general work environment, benefits and potential future with a company – will go above and beyond to care for customers like they were their own. Making employee health and wellness a priority by offering wellness programs and incentives can also add that extra boost of positivity to your employees’ overall experience.

Listen and Ask Experts

Whether it’s a disgruntled customer, an ex-employee or a fierce competitor – listen. Listen to everything everybody has to say and always at least consider the feedback you are being given before measuring its perceived validity. The humility involved in learning from leadership shortcomings is not only necessary, but invaluable if you ever have any chance at growing a business. It’s through trial and error that even the best of the best have learned to be successful.

Nobody embarks on the journey of entrepreneurship with the intention to fail. But in order to truly succeed, they have to be prepared to think outside the box and work outside their comfort zone.

   

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