Tony Hulbert, CEO of HorsePower Brands, emphasizes the value of a systematic approach to solving challenges:
“Every time we identified an issue, Bloom Growth found a solution that would work within the franchisor and franchisee space.”
Whether you’re a small business owner or leading a growing enterprise, these 8 actionable strategies can help you achieve sustainable growth.
1. Create or update your business plan
Every growth journey starts with a solid roadmap. A comprehensive business plan provides clarity, structure, and a way to align your team around shared objectives.
For HorsePower Brands, their growth story began with a detailed and adaptive plan. They envisioned scaling within the franchising model and built a strategy that addressed key areas like market analysis, financial projections, and operational frameworks.
Action steps:
- Identify measurable goals aligned with your business vision.
- Regularly revisit your plan to adapt to evolving market conditions.
2. Master your metrics
Metrics are the compass that guides your business decisions. As Peter Drucker famously said:
“If you don’t measure it, you can’t improve it.”
Define your key performance indicators (KPIs) and track them consistently. Metrics provide valuable insights into financial performance, team productivity, and customer satisfaction.
Real-world example: HorsePower Brands used data-driven decision-making to measure the effectiveness of their strategies and remain agile in a competitive market.
Action steps:
- Set KPIs that align with your growth goals.
- Use analytics tools to monitor and evaluate your progress regularly.
3. Build a culture of accountability
Accountability isn’t just about enforcing rules; it’s about creating clarity and ownership at every level of your organization.
At HorsePower Brands, accountability was critical in fostering collaboration between franchisors and franchisees. Dial in your approach by focusing on these three areas:
- Org charts: Clearly define roles and responsibilities to avoid confusion.
- Processes: Ensure consistency by creating accessible, up-to-date workflows.
- Task management: Assign tasks with specific owners and deadlines to ensure completion.
Action steps:
- Audit your organization’s accountability systems and identify gaps.
- Foster a culture where individuals take ownership of outcomes.
4. Commit to weekly meetings
Weekly meetings provide the rhythm needed for effective team alignment. They’re an opportunity to discuss priorities, tackle issues, and review progress on key metrics. However, unstructured meetings can waste time and frustrate your team. Ensure every meeting has a clear agenda and defined outcomes.
5. Build strong client relationships
Customer satisfaction isn’t just a box to check—it’s a growth multiplier. When you prioritize client needs, you build trust and loyalty, paving the way for repeat business and referrals.
- Ask for feedback: Use client feedback loops to understand needs better—and act on their suggestions.
- Offer white-glove support: Leverage your team’s strengths to provide exceptional customer service. This is an edge AI can’t compete with.
- Invest in community: Create opportunities for engagement through social media groups, meetups, or events.
- Maintain transparency: Share your goals and progress with clients to build trust. Continuous discovery interviews are a great place to start!
6. Empower your team with development opportunities
Your team is your most valuable asset. Investing in their growth enhances productivity, innovation, and morale. HorsePower Brands prioritized skill-building and personal development for their employees, creating a motivated workforce aligned with their goals.
Action steps:
- Offer training programs, workshops, and mentorship opportunities.
- Encourage employees to pursue certifications or courses that benefit their roles.
7. Stay aligned with technology trends
Technology is the engine of modern business growth. Keeping up with trends ensures you’re staying competitive, efficient, and innovative.
Action steps:
- Regularly review emerging tools and software in your industry.
- Foster a culture of experimentation to adopt relevant technologies quickly.
8. Build strategic partnerships
Collaborations amplify growth. Align with partners that complement your strengths and expand your reach. This could mean forming alliances with other businesses, co-marketing with complementary brands, or working with sales and marketing specialists.
Action steps:
- Identify opportunities to collaborate with industry leaders.
- Create win-win partnerships that benefit all stakeholders.
Bringing it all together
The journey to sustainable growth is complex, but it doesn’t have to be overwhelming. By learning from the strategies implemented by HorsePower Brands and Bloom Growth, you can build a growth framework tailored to your business.
Focus on:
- Measurable metrics and clear goals.
- Building accountability and fostering innovation.
- Prioritizing client satisfaction and team development.
If your business is uncovering gaps or struggling to scale, it may be time to consider implementing a business operating system—a proven method to streamline operations and set your team up for success.