Is your company experiencing true business growth? The way to determine that is by knowing the signs that your company is experiencing real growth and not just having a good week or month, for example. Here are some of the main signs to watch out for from Yair Hamami leadership:
- Profitable product lines
This is another key sign that your company is experiencing real business growth. It’s quite different from one product’s demand spiking, for example. Instead, it’s major if several products/product lines have high demand. In that case, it’s likely that there’s solid demand for your company’s products.
Again, it’s critical to consider how many products have high demand. If it’s one, then it’s not necessarily a sign of big demand and business growth. On the other hand, if one or more product lines are experiencing high demand then your company could be experiencing major demand spikes.
- Strong demand
This is one of the top signs that your company is experiencing genuine growth. It’s one thing if demand for your products/services spikes one month. However, if demand is steadily high, then it’s a telltale sign that your company is on the right track regarding demand.
Make sure to watch for sustained growth. Not only that, but consider how many products/services are experiencing high demand. If there are multiple ones with a high demand, then it’s a good sign that your company is experiencing high demand. On the other hand, if it’s just one product for one month then it’s not a sign of solid demand.
More specifically if your company is receiving outstanding feedback, then it’s a sign that your company is either experiencing solid business growth or is on the verge of doing that. It’s a sign that your company’s products and services are getting positive reviews and feedback from customers.
On the other hand, if your company isn’t getting mostly good reviews it’s probably a sign your company is experiencing average growth at best. The key is to get a consensus from the reviews. They’re probably not all negative or positive, so determine if the feedback is mostly negative or positive.
- Customer base
More specifically you should check if your company has a diverse customer base. If that’s the case, then it’s highly likely that your company is experiencing solid growth. On the other hand, if that’s not the case then it’s likely a sign that your company isn’t growing significantly.
If your company can survive tough economic times, then it’s also often a sign that your company is experiencing true business growth. This shows that your company is doing enough business to stay afloat even during tough economic times.
On the other hand, if your company plummets during tough economic times it’s often a sign that your company not only isn’t experiencing growth, but it might be having some serious problems.
These are some of the various signs that your company is experiencing business growth. Check if your company is experiencing one or all of them.