Every business owner wants to grow revenue. That’s a given. My question to you today is, “Why do you want to grow?”
Your reason for being in business needs to be about more than profit. Yes, there are personal dreams and motivations, but in order to hit your personal goals, you need to have a bigger vision.
My “why” behind Revenue Growth Engine is to help 10,000 great businesses double revenue so they can create meaningful jobs and give back to their community. I developed this “why” through 18 years of service on non-profit boards. I saw that the largest donations, the ones that really moved the needle, were coming from successful and generous business people. I want to help these companies grow!
What’s the “why” behind your business? If you want to grow, you need a meaningful answer to this question. I believe this is true for three reasons:
1. Because It Will Take Hard Work
Growth takes work. As I say in the introduction to Revenue Growth Engine, there is no magic bullet. “Building your Revenue Growth engine takes work. It requires leadership and vision to drive organizational change. The change is worth it.”
To grow your company, you and your team are going to have to work hard. It will require extra hours and effort to build and coach to create systems that drive growth. In order to sustain this effort, you need a purpose.
2. Because Your Clients and Prospects Want To Know
What makes you different from your competition. Unless you are one of the lucky companies that truly lives in a Blue Ocean with no competition, you regularly go up against companies that offer alternatives to what you sell.
You also go up against the biggest competitor: Status Quo, Inc.
How do you motivate buyers to choose you and clients to stick with you? All things equal, they will gravitate to a company that has a bigger vision.
Let’s say you have a choice of spending your personal money between two companies. They both have a similar product and service. One of the companies publicly invests a percentage of their profits in a local nonprofit that makes the world a better place. Which one will you choose?
3. Because Your Employees Want To Know
Your team needs a purpose. The great collection of Hebrew wisdom recorded in Proverbs 29:18 says, “Where there is no vision, the people perish.” Without a vision, your team will die on the vine. They may work for a paycheck, but they won’t work with passion. Plus, they will be sitting ducks for the recruiters of companies that know their “why”.
What’s your “why”? What lights your fire? What cause could your company get behind in 2021?