Opportunity Knocks: Be Prepared to Answer the Door

Growth doesn’t just happen by itself. You have to be ready to seize opportunities when they arise. Here are three key strategies to make sure you’re ready.

Get Your Ducks in a Row

The first step is making sure you have all your planning documents. That means developing and keeping updated critical business documents like a business plan, budget, marketing strategy, profit and loss statement, cash flow statement, balance sheet, and any other financial documents relevant to your specific business. Having a clear picture of your current business operations and finances will enable you to make quick decisions and respond to opportunities promptly.

Don’t Be a One-Person Show

No matter how capable you are, there’s a limit to what one person can accomplish. If you try to do everything yourself, you’ll severely cap your potential for growth. As soon as you can afford it, start building out a team to support you. Your team doesn’t have to be made up of full-time employees. Start with a part-time employee or outsource tasks. Get others familiar with your business so they are already in place to support you when a new opportunity to grow your business presents itself.

Get Out There and Network 

You’ll never hear about potential opportunities if you’re operating in a vacuum. The more you can get out and about, attending industry events, networking gatherings, community meetings and the like, the more chances you’ll have to learn about needs you could meet. Be visible, sociable, and engaged. The person sitting next to you on an airplane may lead you to a new client.

Are you prepared to answer the door when opportunity knocks? Make a checklist of any tasks you need to complete to be prepared for new possibilities.

If you would like to discuss strategies to grow your business, let’s talk:

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