There are some key principles that can help you grow your business. These are insights our parents and many in our generation were not taught. I am not here to entertain or impress you; I am here for those willing to learn from someone who has walked this path before.
Some key principles/strategies to grow your business;
- The Power of Information
First and foremost, information is crucial. When you receive information, don’t just hear it—internalize it, analyze it, personalize it, and then act on it. Many people fail because they don’t properly process information. They may criticize or dismiss it without understanding its potential.
For example, when I learned about fracking, I internalized and analyzed its implications. Being from an oil-producing country, I realized that changes in the global oil market would affect our economy. I extrapolated that reduced oil prices would lead to lower government revenues, delayed salaries, and unpaid school fees. I personalized this information and decided not to increase school fees for my school, maintaining affordability while improving our facilities. This strategy attracted more students and ensured our stability during economic downturns.
- The Anaconda Principle
The Anaconda Principle involves a strategic approach to business growth:
- Attraction: Offer competitive pricing and high-quality services to attract customers.
- Addiction: Provide excellent discipline, facilities, results, and environment to keep customers coming back.
- Retention: Maintain high standards to retain customers and encourage them to bring others.
- Rejection: As demand grows, selectively admit customers to create exclusivity, making your business more desirable.
By following these steps, my school became highly sought after, even when others struggled. Our admissions process became like a marketplace, with everyone wanting to join.
- The Salami Principle
The Salami Principle is about gradual growth:
- Slice by Slice: Increase prices or expand services gradually, without overwhelming customers.
- Bit by Bit: Implement changes in manageable steps, ensuring steady progress and customer satisfaction.
By applying the Salami Principle, I was able to raise school fees and improve services without causing financial strain on parents. This approach allowed for sustainable growth and enhanced customer loyalty.
- Acting on Information
Successful business growth requires acting on valuable information. For example, when I learned about available properties, I invested in real estate. Anticipating future developments, such as new roads or factories, can yield significant returns. Knowing where to invest and when is crucial.
Like Zacchaeus in the Bible, who climbed a tree to see Jesus, you must position yourself strategically to seize opportunities. The Bible’s principles are practical and demonstrable when properly understood.
Remember, growth comes from informed actions and strategic planning. Embrace these principles, and watch your business flourish.
God bless you.
