Barriers to Business Growth

As any business grows there are certain building blocks that need to be in place to ensure a smooth growth profile. Getting these in place is essential to help your business grow. The Barriers section of Venturefest is all about identifying the key issues that hold businesses back and communicating key tips and advice to break through those barriers, or to prevent them from becoming barriers in the first place.

  • Recruitment – Getting the right people on board and the right team in place is the most fundamental thing for any business. The founding team are key, however as the business grows, often “what got me here, won’t get me there”, and new senior managers need to be recruited. Getting the recruitment and assessment process is key for any business.
  • People and team development – Once you have recruited the right people they need to be developed individually and as part of a team. Understanding the natural personality traits of each team member, and their natural situational responses and responses to their fellow team mates is key to team dynamics, team efficiency and team production.
  • Marketing and social media – Getting the right message to your potential customer through traditional and social media channels is key to driving the sales engine for any product or service. What are the best ways to get the right message seen and heard by the key decision makers in your sector. What budgets should be allocated and how do you spend your marketing monies for best return on investment.
  • Technology – Having the right product to deliver optimum value for your customer is key.  It is one thing to be able to sell the benefits of a product but then the product itself has to deliver and to truly differentiate itself in a crowded market place. Learn how one company identified a need and then set about developing cutting edge technology to deliver that need.
  • Sales and business development – What am I selling to who from what emotional perspective? Why should somebody buy from you as opposed to your competition? What makes you and your product different and how do you go about promoting and selling your product or service? Understand the key sales processes for products and services. How do you go about selling to the “big boys” if you are a smaller organisation.
  • Planning and forecasting – If you fail to plan you plan to fail. What are some of the key planning and forecasting tools that you can use to accurately forecast the opportunities for your business and to then define a plan which can be executed. Following a defined roadmap is far more likely to result in you getting where you want to go. Determine how some of the best known tools can benefit your business.
  • Intrapreneurship – People working in the business are the best placed to come up with ideas on how to improve the business. How do we develop Intrapreneurs who can use innovative and entrepreneurial thinking to benefit your organisation.  Learn from a major organisation that has changed and developed its service offering by utilising the skills of its workforce, and remain one of the leading organisations in Wales.