We all try to do the right thing when it comes to business growth. Making sure everyone is clear on your core purpose and vision, that every decision is aligned with your values, taking excellent care of every employee, providing stellar customer service and growing leadership capabilities. But are you truly succeeding in all of these areas?
Many businesses fail to grow and become stagnant, maybe even failing altogether, because of these 4 barriers to business growth. If you want your business to scale up, avoid these 4 roadblocks that could be standing in your way.
4 Things That Can Put the Brakes on Business Growth
No Strategic Plan in Place
No clear strategic plan for your business and its growth can lead to well-meaning employees running in many different directions or create an environment where everyone feels stuck in one place and not moving forward. Clearly communicate where your business is headed and the vision of your dream and goals. Working together towards a common goal with a solid strategic plan in place will be the catalyst for growth.
Not Hiring Smart
Bringing in the wrong employees can backfire when it comes to business growth. Build a team that blends the right amount of experience and shared values and mission. Employees who don’t value the same things or have the same work ethic can be like taking a jackhammer to the foundation of your business.
Selling Price Over Value
Anyone can sell insurance on price alone. But you’re not like everyone else. Don’t sell price. Always sell value. You have the opportunity to rise high above those murky waters of playing the price game and, frankly, you may not always be able to quote them the lowest price. Selling value over price could be a game-changer in increasing your insurance sales.
Seeking the Bare Minimum with Customer Satisfaction
There’s a big difference between a satisfied customer and a loyal customer. A customer who is satisfied may simply be seduced by a lower price. Instead, work to build your customer’s loyalty. Respect your customers, be transparent and be available to service their individual insurance needs. Engaging and nurturing customers will work towards building lasting relationships, a solid foundation and ultimately loyal customers who will stick by your side.
The sole purpose of a business is to grow. These business growth stallers can make growth difficult but there are ways to avoid them. The key to success is knowing which things can inhibit your growth and being smart about overcoming them.
Pivot Your Insurance Agency Towards Sustainable Growth Are you an insurance agent who feels that your agency is stuck? Is your team grinding new leads each month yet your agency never seems to grow? Client Focus has worked with thousands of agents over the past 15 years just like you. Our purpose is to help your insurance agency pivot onto a path to sustainable growth.