Check out strategies to improve your company’s results and become a successful entrepreneur

If you want to be a successful entrepreneur, at some point you will have to face a barrier called business growth. This is one of the main objectives for anyone who wants to maintain their own business. However, it can be a very difficult plan to get off the ground.

I say this because a Sebrae survey, published in 2023, found that individual microentrepreneurs (MEI) are those who suffer most to remain in the small business market, with 29% of companies closing after five years of activity. Commerce is the most affected sector, with 30% of companies closing their activities during this period.

It’s true that no one has the desire to see the enterprise fail; But how do you put business growth into practice? I apologize for the disappointment: there is no “magic formula” that will make your business boost overnight. We’re not talking about luxury or glamor – a lot of hard work and research goes into the process.

Growth is not magic; It’s strategic work, it’s hard work, it’s work from sunrise to sunset. If you want to grow in the market, get your hands dirty and stop thinking that the competition will wait for you. You need to create your momentum and seek out your customers. While I can’t make your business grow, I can at least contribute tips that have helped me throughout my career. Let’s go?

Studying your market should be a daily routine. In-depth knowledge about your segment is essential to avoid unpleasant surprises. Remember: relying solely on experience can be a mistake. I myself opened a company and earned more than R$1.5 million, but I ended up failing in the same segment I worked in for more than a decade, for the simple fact that I neglected a lot of things, especially market analysis.

The customer must be at the center of all your strategies. Treating them with respect and attention will make them feel valued and loyal to your brand. A satisfied customer is an invaluable asset.

Technology is a powerful ally in growth. Instead of seeing it as an obstacle, try to use tools that can optimize your processes and expand your market presence. Be open to learning and adapting.

Strong leadership is essential. Investing in training leaders within your company improves the organizational climate and prepares your team to face challenges. Inspiring leaders can transform the dynamics of an organization.

Relying on a single product or service can be risky. Explore new opportunities within your niche to diversify your revenue sources. Diversification helps ensure the company’s financial stability.

Mastery over finances is extremely important. Ignoring the numbers can lead your company down a path of no return. Understanding financial reports and having a clear view of cash flow will allow you to make more assertive decisions.

The market is constantly evolving. Adapt quickly to changes so you don’t get left behind. Being willing to innovate and reinvent themselves is a characteristic of companies that prosper.

Founder and CEO of InMerc Escola de Negócios, CEO of VDPrev Advocacia and professional with 20 years of leadership experience.