Whether you're starting a business or have been around for a while, one key to success is getting your business moving.
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An overlooked ingredient for successful organizations and leaders is the ability to generate and sustain momentum. Businesses and executives need to both build and maintain momentum in order to increase sales and improve market penetration. J.C. Larreche, Professor of Marketing at INSEAD Business School, answers this question in his book The Momentum Effect: How to Ignite Exceptional Growth. According to the author's study, "momentum-driven companies have delivered 80% more shareholder value than their slower competitors," he writes. "Momentum leaders are out of luck – they are smart. They discovered the source of momentum, and with it." Beginning of a smarter path to extraordinary growth. "
The momentum model for business success
Momentum is key to a company's success and can often be elusive. This is why it is so important to know how to build a momentum model.
A momentum model
Step 1: find your message. Clarity is king in building dynamics. When the leader becomes clear, everything and everyone in the business becomes clear. A company should be able to formulate its company's message in a maximum of four words. The right words create momentum.
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Becoming clear about what you are doing and how you are doing it is a step towards clarity. Clarity creates momentum. Clarity can often be a differentiator in the market leading to increased market share. Every successful company has an important message. The differentiator between successful and average companies is that successful companies know and stick to their message.
Step 2: share your message. Once a message has been selected, it is important to find people to carry the message. Loyal followers make a bold and courageous decision to accept and accept the message in order to bring it to the market field.
Find the right sales channel or channels to use energy and resources effectively. Many companies make the mistake of looking for customers or companies where their customers don't exist. Marketing alone will never produce results. Marketing to the right leads with the right message always leads to results.
Step 3: connect your message. A key step in building a momentum model is to let the team and customers know about the company message so they can get your message across to their networks. Buying in from others brings momentum. A company that works with Well Done will consider how it can attract others to its products and services.
Loyalty to a message is not always easy. Changing a message is often easy, but it's often the worst thing a company can do in need of momentum. An authentic and transforming message can be developed in difficult times. When in difficulty, leaders discover the authenticity of the message.
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The more people deliver your message, the more likely they are to deliver your message. Successful companies want to work with customers, vendors, and team members to improve their company's message and have a better way of making an impact in the marketplace.
Step 4: expand your message. When a company's message can be repeated and shared with others, it creates an impetus for success. Because of this, connecting your message with your customer is critical to the success of your business. When a lot of people start communicating about a product, service, or company, those things start to add value and brand awareness.
Step 5: replicate your message. If a company can replicate its message through the power of referrals, that company will expand and gain momentum. Many companies never think about how to reward their current customers in helping a company find their next customers. Every business should have a proven referral process to encourage and reward client advocates who help share their brand and message with others.
Step 6: improve your message. New customers offer new opportunities. The right team always helps build a better message and momentum. Never stop improving your message in the marketplace. Companies that stay up to date with their message will attract new customers who are not in line with the previous message. If you discover a more impactful message, don't be afraid to reinvent your message.
Whether you are starting a business or starting your business again, the key to your business success is gaining momentum. Any business can build momentum, and the best companies will do everything in their power to build their momentum. Just follow the steps outlined in this article and you will be well on your way to discovering your momentum and building your business.