Growing a business feels like going to a candy store (on a budget) as a kid. Your first thought is to get one of each kind, but then you remember you’ve only got $2. Now, you need to think about how you’re going to satisfy your sweet tooth with the budget you’ve got.
It’s the same with your business. In order to grow, you need tools, systems, and maybe even someone to take the excess workload off your back. You also need education. Then, the candy store dilemma repeats itself: do you really need every single course and program out there in order to grow your business? Do you need to do everything that everyone else is doing? How do you grow while sticking to what’s most important?
To the kid at the beginning of the story, it was sticking to a budget. To you…when it comes to growing your business, the first thing you need to take into consideration is your business foundation.
In order to grow, you need to lay the groundwork. Understand the what, why, and how of your business. This will give you the clarity to recognize where you are in your business journey and where you want to go.
Luckily, that’s a simple task - it just requires you to take a moment, reflect upon your business and reverse engineer your business strategy. Have you heard about Reverse Engineering? If not, let me tell you - this technique will save your business. Below, you will find a straightforward guide on how to Reverse Engineer your business strategy - buckle up and get ready to have your mind blown.
Reverse Engineering my Business Strategy…What Does That Mean?
The term Reverse Engineering came from the - drumroll - engineering world. It involves taking a machine apart, looking at each of its bits and pieces, and putting it back together in a way that makes it work better.
In the business world, it means looking at your business foundation, then using that knowledge to reanalyze each and every category, system, and process that makes your business a reality. The steps I’ll show you below have helped my clients achieve profitable businesses, and I’m sure they’ll help you grow your business as well.
Time to grab your pen & paper and keep reading to unlock this life-changing business technique.
"The right business plan can transform your business. It can boost your sales and profits, and allow you to achieve the goals you had when you first launched or purchased your business. However, your business plan can only do this if you complete it properly. Most importantly, you must start with the end. You must dream big about what you'd like your business to achieve. Once you have that crystal-clear vision, you can begin planning and reverse engineering it." - Dave Lavinsky
Step 1 - Lay A Strong Foundation For Your Business
Mission, Vision, and Values. These are the 3 pillars that make the foundation of your business. They are the first step into Reverse Engineering your business strategy and are indispensable.
If you’re reading this, maybe having a Mission, Vision and Values never crossed your mind. Maybe you wrote yours a while ago, but you’ve never revisited them to see if they are still relevant.
The first step to growing a business is alignment with your business foundation. That’s why writing specific Mission, Vision, and Value statements matters. They will become the guide to all the business decisions you have to make moving forward. To help you with this first and most important task, I’ve made a free workbook to easily define your business foundation. You can download it here and get ready to start working on it after reading this article.
This first step is necessary, so don't skip it!
Step 2 - Reverse Engineer Your Business Strategy
Once you’ve laid your business foundation, it’s time to use it intentionally. First, divide the structure of your business into categories: smart goals, marketing, sales, customer nurturing & retention, systems, products/offers, etc (whatever makes sense for your business!). Write down what you’re currently doing in each of these categories.
Then, use your Mission, Vision, and Values to understand:
What you’re doing that’s aligned with your Mission, Vision, and Values
What you’re doing that’s not aligned
What’s currently working (and why)
What’s not working (and why + how you can improve)
Write all of that down, then look at it again. There are great chances that you’re failing to grow your business simply because the actions you’re taking are not aligned with your Mission, Vision, and Values.
Now that you’ve done this thorough audit of your business, the next step will be a breeze.
Step 3 - Pivot and reroute if needed
How can you move forward in a way that’s fully aligned with your Mission, Vision, and Values? That’s what this step is all about. You’ll take the audit you’ve performed before and do some decluttering.
In a very Marie Kondo fashion, let go of anything that’s not in tune with your business foundation. I mean it when I say anything. You don’t have to offer all of the services on the planet or sell 20 different courses. You don’t have to have an active Facebook page and spend time engaging in there if your vision is to improve the quality of life for 1000 Gen Zers 5 years from now.
It’s okay to let things go, even if you’ve spent a lot of time, energy, and money on it. Take it from me, I left my CEO position at a multi-million dollar company to sail on a boat with my husband and start my online business and I haven’t looked back since.
This is you after reverse engineering your business strategy
Be Consistent And Trust The Process
Now that you’ve got your new and improved business plan, it’s time to turn it into actionable steps. Define smart goals with comprehensible metrics you can track quarterly that aim towards your vision. In this blog post, I teach you how to use Smart Goals to grow your business.
If you’re on the grind to success, remember to make time for rest. Your goals and deadlines should be set in a way that allows you to take your time and do the things that help clear your mind.
Trust the process. I know you probably want your business to grow 3 months from now, but that’s probably not the case. If your actions are fully aligned with your business foundation, your business will get there. So do your best to achieve those smart goals you’ve set for yourself, analyze your wins and every failure, and trust that success is coming for you.
If you’re a nonconformist corporate expat ready to create your own impactful and profitable business, doors are open for the Discover Your Path 1:1 VIP Experience. It’s a 6-Week program in which you’ll get our 11+ years of business strategy expertise to design the blueprint for your profitable business. Each business is unique, so the entire process is customized to your business. You can find out more about the Discover Your Path 1:1 VIP Experience here.