Raymond Taggart at raceway | Featured image for small business growth tips.

I recently had the pleasure of doing a Hot lap with Craig Lowndes in a finely tuned V8 Supercar. Flying round the circuit at 298kph in a vehicle with 7500rpm and an estimated 640 bhp was an amazing experience that definitely got the adrenaline pumping!

It also got me thinking about the similarities with running a small business. In racing, ultimately, it’s not just about having the best driver behind the wheel in the competition. It’s just as important to have the right pit crew and management team behind you.

Not only that but it’s vital that you understand and can respond to the vehicle telemetry as well as selecting a strategy that will deliver peak performance and winning results.

The analogies with running a business are quite striking. While a good leader at the helm is important, having the backup of a strong management team is also vital. What’s more, having a carefully selected strategy in place and keeping a close eye on your numbers are imperative to grow your business profitably. I therefore have 3 key small business growth tips for driving your business forward.

3 Small Business Growth Tips

  1. Take a look under the hood of your business, review your balance sheet and profit and loss statements monthly to really understand your numbers.
  2. Surround yourself with a winning team.
  3. Design an action strategy that is going to drive your business to future growth and increased profitability.

If you need any assistance with any aspect of getting your business across the line in first place, don’t hesitate to give me a call on 07 3391 1188 or email me: raymond@taggartandpartners.com.au

Want to learn more?

If you’d like more small business growth tips to help drive your business forward and to profitability, don’t hesitate to give our business accountants a call on 07 3391 1188 or email info@taggartandpartners.com.au today.

*** This publication is for guidance only, and professional advice should be obtained before acting on any information contained herein. Neither the publishers nor the distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication. Publication date November 2016

Updated 21 December 2020