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Hall of Fame football coach Lou Holtz is credited with saying, “In this world, you’re either growing or dying.” While he was likely talking to the athletes in his charge when he finished this statement by requesting that they “get in motion and grow,” the reality is that this advice also applies to the world of business.
In other words, if your company isn’t constantly getting bigger, then it is going to become smaller in comparison to competitors that have figured out what it takes to increase in size. Additionally, while some business experts feel that this lack of growth is caused by poor customer insight, not having enough funds, and inefficient leadership, one successful entrepreneur suggests that fear may be the real culprit when it comes to failing to attract new leads.
The Connection Between Fear and Stalled Business Growth “If you can’t attract the right clients into your business, you’re in fear,” says business growth expert Russell Ruffino . Ruffino is the founder and CEO of Clients on Demand, a company that made Inc. Magazine’s 500 fastest-growing companies in America based on its own growth while teaching entrepreneurs how to effectively attract more quality clientele and meet their desired goals.
Clients on Demand’s founder and CEO Russell Ruffino
Ruffino goes on to explain that fear created by a “feast or famine” mentality often results in spending too much time being worried, an emotion that inhibits many business owners from making an actual plan to attract new leads. So, how do you overcome this fear? By creating a plan.
Developing a Business Growth Plan Have you ever had a health concern bother you for weeks (or months), only to feel better the instant you make a doctor’s appointment? If so, then you’ve already experienced the value behind using a plan to dispel fear.
While Ruffino helps clients develop an effective online advertising plan and system that “puts clients first,” the U.S. Small Business Administration (SBA) adds that there are two options for creating a complete business plan that can help your company grow.
The first is a traditional business plan, which is a comprehensive plan that includes nine extremely detailed sections:
Executive summary Company description Market analysis Organizational structure Service and/or products Marketing and sales Funding needs Financial projections Appendix
If this feels overwhelming, your other option is to do a lean startup plan. The SBA shares that this type of plan is faster to write in that it provides a bigger picture of your business versus going more in depth.
The nine elements of this plan are:
Key partnerships Key activities Key resources Value proposition Customer relationships Customer segments Channels Cost structure Revenue streams
Whether you decide to create a traditional or lean startup plan, going through the process can help put your fears at ease. This will make it easier to grow your business, while also keeping it from dying way too soon.
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