Inc. magazine put out a story highlighting the decline of entrepreneurship over the past few years. Companies are slowing growth and the dwindling start-ups believe they can crack into Uber-like stardom on line and off line. Either way the issue is growth. Many companies are just trying to survive and not focused on growth. However, wisdom tells us that growing IS surviving. Lead generation and creative marketing are taking a more important role for growing companies for this very reason. The world is in a different place so it’s important to step back and take a look around to identify how companies calculate their next moves.  

"Change is the only constant" - Albert Einstein

Today’s economy is connected and online like never before. This is no secret but there’s a deeper identify for the marketplace that businesses need to comprehend. Let’s look at what the modern online economy looks like and then dissect what every business needs in order to win, succeed, and grow.

Internet is everywhere. 

Internet as we know it today has only existed for a very short period of time, and it has completely changed the game. Everything is connected, {or will be soon}. From Smart Homes to Smart Watches to Smart Glasses to Smart Cars, internet is connecting humans to the objects we interact with on a daily basis. Searching for information is unprecedented, Google gets 12 billion searches every month in the U.S. alone.

People are mobile

Think about this. There is no distance gap anymore. Planes, Trains, and Automobiles can take us anywhere, anytime, and at more affordable prices. Paired with the point above that internet is everywhere, there is no longer the tether to the desk or office in order to get work done. People are connected at all times and have discovered the beauty of mobility.

Time is currency

Technology is providing the ability to do more and more things easier and cheaper. Business used to be centered around people, now it’s hardware and software because people’s time has become too valuable. Lead generation is becoming automated to reach more customers faster. Email was invented to get more communication in less time. Websites can serve information 24/7/365 to customers everywhere around the world.

Technology can solve every problem {or will soon}

Need a ride? App. Need to learn coding? YouTube. Need to talk to partners across the globe? WebEx. From apps to how-to videos to better medicine to loneliness to building homes, technology is being leveraged to solve more and more problems every day. 

Manufacturing is Easy

People that made things have always been revered for their abilities and inventiveness. The Industrial Revolution brought the ability of scale and mass production. With technology and spread of machines, making things is no longer viewed as hard or thought of as an obstacle. Competition is high. People expect that anything they think up can be made functional in a matter of weeks. It’s no surprise either, 3D Printers in your living room can make prototypes, what took years can take hours.

5 Things A Company Needs to Grow

Now that you business owners, marketing directors, business development representatives, and entrepreneurs have a good base understanding of the current business environment it’s time to take a look at the 5 things your company needs in order to grow in today’s connected economy. 

#1 Consistency.

Consistency with messaging, communication, values is paramount to gaining credibility, buy-in, and ultimately trust. Remember that internet can share every message everywhere so it matters that’s it’s consistent. When building a team a best practice is always do what you say in order to establish familiarity and predictability. The same best practice applies when attracting customers and generating leads, stay consistent to the brand and your offering. Consistent procedures (see the following point) not only helps customers understand expectations but helps build a scaleable model for you business to grow. Read more about the Power of Consistency from Inc. Magazine as they spell out the 5 reasons why consistency matters.

#2 Automated Processes

With time as the new currency, this point is self explanatory. Automate as many processes as you can to save time for tweaking and higher level creativity. Let humans do what we can only do and let machines do what it does best. The first area of your business to start with and grow with is a Marketing and Sales Platform that is integrated and automated. This solves several problems with the buyer journey, consistent communication, and staying connected. This brings together two powerful roles for growing companies and makes growth happen efficiently. Automating processes uses time to your advantage and can be 24/7 when your people cannot. 

#3 Embrace Digital, Truly and Wholly

This statement is in your face everywhere. Everyone who’s anyone talks about this sea change. But the key to growth is not going digital, but going all in on digital. Back to the points about a connected world, mobile devices, and mobile people, you have to be a part of the new fabric of the modern online economy. I’m not suggesting getting on every social media platform or producing YouTube videos every day, I’m saying don’t half-ass the commitment.

 #4 Alliances

Find them and cultivate them. From mentors to partnering with other businesses everyone needs help. Growth companies leverage their network to grow their network. Sharing connections and identifying opportunities together to grow is powerful. Surround yourself with smart people then shut up and listen. The relationship must be two-way. Have something to offer. Don’t go into a meeting with a potential partner with nothing to provide, you won’t get far and most likely get heckled behind your back. Ask, receive, then give back. Understand what you have to offer, there are more valuable things than fists full of cash like contacts, referrals, and expertise that companies need. 

#5 Immersion

"As an entrepreneur, you love your business like a child, and you're taught to be laser-focused on the business." - Daymond John (Shark Tank)

A lot of entrepreneurs and business coaches will tell you success comes from finding connections and using imagination to find usefulness in the market for your skills and offerings. If you read their history or understand their success, you’ll learn that they are immersed in their business. Tony Robbins has built his legacy on this fact. The only way to continue to grow and succeed is to continue learning your industry, your customers, your market. This goes with the point about learning versus knowing. Those at the top do nothing but read, sleep, think, and talk about their business. Constantly looking for an edge, an opportunity, an innovation, something that will forward the business inch by inch until one day it starts growing mile by mile.

Summary

If you’ve started a business or are a part of a business that wants to grow, the hard part has yet to come. It’s hard to grow and scale a business and takes a lot of hard work. Understanding the current environment will provide context to the goals you’d like to accomplish and help refine the vision. The steps listed above are a great place to begin the process toward growth and someday maybe you’ll be on the cover of Inc. or Forbes.

// Zack

At Kpahi, we believe the internet is powerful. Let's use it.