The secret to growing a successful business (and having financial peace)
Updated: Dec 23, 2022
To grow a gigantic prize-winning pumpkin, you have to have a prize-winning seed. It’s not something you can go to your local farm or seed store, buy a pack of seeds, sprinkle a few in your garden, and get a gigantic pumpkin. Even if you do everything right: planting, watering, and nurturing, your little pumpkin plan still won’t become a gigantic pumpkin.
It’s the same with your business. You need to have an underlying business strategy that can grow into a successful business. Your special seed for business is your sweet spot.
Your Sweet Spot
This is the Sweet Spot Diagram. It’s a visual representation of the Sweet Spot concept from the book, The Pumpkin Plan.
There are three critical elements of your business that intersect for your Sweet Spot. To figure out your sweet spot, you look at your top customers, your unique offering, and the systemization (systems & processes) in your business. These three elements must be present and aligned with each other to grow your business.
If you can find the Sweet Spot and have laser focus on increasing that, you’re going to have the seed you need to grow a giant pumpkin (aka gigantic, successful business!)
Your Top Customers
The first circle in our Sweet Spot diagram is your top clients (aka customers). These are the people (or niche) that are your ideal customers. They are the ones you want to focus on and pay attention to.
They are the customers that you love to serve and want to clone a million times over. They buy from you frequently, are profitable, and you love serving them.
Your Unique Offering
The next circle is your unique offering. This is what you sell, how you sell it, how you deliver it, and what makes you stand out from the competition. It’s the difference between what you offer and what everyone else in the quilt shop world offers.
It includes your vision and mission statement, your immutable laws, and the actual product or service that you provide.
For example: if you do Long Arm Quilting services, that is one of your unique offerings, and if your top clients hire you for that, you will experience high demand in the market.
Systems and Processes
The third circle is systems and your processes. These are the things that create scalability in your business. It gives you the ability to grow beyond what you can offer by yourself. It is to increase the production and delivery of your unique offering exponentially, without dependence on the business owner.
This is often the most challenging part of the diagram for those businesses that founded their company based on a specific ability or talent.
You may believe that no one else can create that product or deliver that service in the same way you do, but that limits your ability to grow your business beyond what you can produce yourself.
Some business models aren’t scalable because the business owner is the only one that can deliver. But other times, the offering just needs to be tweaked to make it scalable. This is often done through automation or outsourcing.
You may be looking at these three elements wondering what the next step is. Maybe you have one or two of the elements, but not all three. Having all three is the key to organic growth and your gigantic pumpkin.
It’s crucial to have a Sweet Spot business strategy that can grow into a successful business.
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