Are These 4 Things the Building Blocks for Business Growth?
“Building your network is a beautiful thing, and it’s not even just about business. You build a support group, a community, and a formal business network.”
We’ve grown this business and turned it from a single VA working in the gig economy to an actual, full-fledged, fully registered agency. About 95% or 98% of our business has been through referral and continues to grow till this day.
Sure, there’s a seasonality in our business - but almost every business does. So how do we manage to scale our business, not just by number of clients but by expanding our offerings? These four building blocks certainly helped!
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TDE Episode 15: Are These 4 Things the Building Blocks for Business Growth?
Carl: How many business ventures have we had in our almost 15 years of marriage?
Anne: We’ve had quite a few over the years, which is why we’re self-proclaimed serial entrepreneurs. But not all of those ventures were successful.
Carl: Yeah, in fact, we’ve had mild success on some of them, while others turned into a loss.
Anne: Loss of money or resources, yes. Loss of resources in terms of time, probably yes, and it’s the most valuable resource to protect, too, because you can’t have that time back anymore.
Carl: Yeah, which is why we came up with this list we’re about to talk about because in that time exchange of having a business but then that business not being successful, you did lose time and of course money, but what you gained were things that were more valuable, which are experience and perspective.
Anne: Which in turn became not just important lessons but an actual part of our core values.
Carl: Or philosophy that we applied in the next businesses we ventured in.
Due Diligence
Anne: That’s right. For instance, due diligence. That’s something that we weren’t aware of back when we were first-time entrepreneurs. But now, everything we do, even if it’s not business-related, we’ve become more meticulous. I know that’s your favorite thing to do.
Carl: Yeah, I like that I’m applying critical thinking and being more investigative or always doing a second, third, or even fourth layer of inspection or research just to make sure I’m making a really informed decision.
That’s the most satisfying thing for me - it’s that I know I’ve done my homework, I’ve exhausted all my efforts to know more than enough about something crucial or critical to my decision-making process. I can sleep soundly knowing I did the “pre-work” needed before the actual work.
Problem-Solving
Anne: Moving on to the second building block for business growth is problem-solving. Which is related to critical thinking that you mentioned earlier. Being in business, especially if you’re a small business owner, you’ll encounter challenges often, no matter how much you plan or structure your business. It’s just the way the landscape is. It’s ever-changing, so you have to be ready to problem-solve.
Carl: This is my favorite on the list. I can attest to how important it is to cultivate strong problem-solving abilities. You need to have foresight and be rational so you can find creative solutions. And this has been a huge contributing factor to our client’s success since Team Dklutr’s promise is to help clients streamline their workflow for efficiency and profitability. So problem-solving has been key to our agency’s success.
Anne: Yes, which is also why clients keep on referring us! We’ve grown this business and turned it from a single VA working in the gig economy to an actual, full-fledged, fully registered agency.
About 95% or 98% of our business has been on referral and we’ve managed to save a lot on marketing costs on account of it. And personally I love working with clients who have been referred because they’re already pre-vetted, they know the quality of work that we do, they know what they’re getting into with us, that we’re a little pesky haha because we really dog our clients with their deliverables, but rest assured we get the job done!
And this is the perfect lead-in to the third building block for business growth, which is networking!
Networking
Carl: I feel like throughout the years, networking, especially here in the Philippines, has gained somewhat of a negative reputation because there are business people who misused it and applied pyramid-type schemes or business models that simply only benefit the upline and not the people in their network.
Anne: Building your network is a beautiful thing, and it’s not even just about business. You build a support group, a community, and of course a formal business network.
You integrate yourself in different circles, and as long as you’re always upfront and transparent with your intentions, being able to clearly delineate business from personal, your networks will flourish.
Carl: There’s that saying that goes: Your network is your net worth. And it talks about your social capital, or your ability to build a network of authentic personal and professional relationships, not your financial capital, is the most important asset in your portfolio.
Building a strong professional network opens doors to opportunities. Especially connecting with like-minded professionals - which can lead to so much collaboration and personal growth. And as you said, our network of clients have complete trust in us and we always get referrals from them.
Celebrate your achievements
Anne: Another perfect lead into the last building block to growth that we’re highlighting: celebrating achievements!
And you know me, I’m all for celebrating success and milestones. I can justify any form of achievement worth celebrating! Whether big or small, let’s acknowledge that!
Carl: Especially if you’re in a team setting.
It’s very important to acknowledge and celebrate milestones as often as you can, big or small, that boosts motivation. Recognizing accomplishments fuels a sense of pride and encourages continuous improvement. You all can start the following day with that air of victory and winning in the atmosphere.
Anne: A winning atmosphere isn’t just about profit or closing clients. It’s about completing a task efficiently and creatively, staying true to your system and processes, and enjoying doing things together.
