{"id":39834,"date":"2021-12-06T10:16:57","date_gmt":"2021-12-06T10:16:57","guid":{"rendered":"https:\/\/act.com\/?page_id=39834"},"modified":"2023-01-04T10:04:28","modified_gmt":"2023-01-04T17:04:28","slug":"business-growth","status":"publish","type":"page","link":"https:\/\/products.act.com\/en-gb\/business-growth\/","title":{"rendered":"Business growth"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"39834\" class=\"elementor elementor-39834\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6be04570 topSctGlb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6be04570\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2ad47872\" data-id=\"2ad47872\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d3dab05 elementor-widget elementor-widget-heading\" data-id=\"1d3dab05\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">What is business growth and why is it <br>important?<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-633b8f41 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"633b8f41\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-18f27ba3\" data-id=\"18f27ba3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7d45cc95 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d45cc95\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-54414a3a\" data-id=\"54414a3a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-798e08b elementor-widget elementor-widget-text-editor\" data-id=\"798e08b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<div class=\"sfContentBlock\"><p><strong>Growth is often good for a business<\/strong>. An expanding company will usually be increasing sales and strengthening its position in the market. However, growth isn\u2019t a strictly defined concept. In this article, we\u2019ll explore what business growth is as well as why it is important for small businesses.<\/p><h4><strong>What is business growth?<\/strong><\/h4><p>A growing business is one that is expanding in one or more ways. There is no single metric used to\u00a0<a href=\"https:\/\/www.act.com\/en-gb\/measuring-business-growth\/\">measure growth<\/a>. Instead, several data points can be highlighted to show a company is growing. These include:<\/p><ul><li>Revenue<\/li><li>Sales<\/li><li>Company value<\/li><li>Profits<\/li><li>Number of employees<\/li><li>Number of customers<\/li><\/ul><p>Companies can grow in some of these metrics but not in others. For example, revenue can grow without an increase in customers if the gains are caused by existing clients buying more. It\u2019s even possible for one metric to increase while another decreases; if sales growth is brought about by a reduction in product price, a business\u2019s overall revenue could still go down.<\/p><p>This means defining growth can be difficult. Those looking to grow their business should look at their business goals to establish the growth metrics they find important.<\/p><p>For some ambitious start-ups, this could mean doing everything they can to increase the total number of customers, even if they make a huge loss in early phases of growth. However, other businesses will benefit from slowly increasing revenue and sales to ensure money is coming in to help cover costs.<\/p><h4><strong>Why is business growth important for a small business?<\/strong><\/h4><p>It\u2019s important that all companies experience growth. However, the type of growth required will depend on the\u00a0<a href=\"https:\/\/www.act.com\/en-gb\/business-growth-stages\/\">stage of growth<\/a>\u00a0the business is in.<\/p><p>Start-ups usually need to grow in order to cement their position in the market and quickly get to a size that is large enough to bring in enough revenue to cover costs and begin to make a profit.<\/p><p>Mature companies don\u2019t need to grow quite as fast. However, they may still want to ensure their metrics are going in the correct direction. An increase in profitability, brought about by sales process efficiencies, could help a stable business build liquidity to protect against future risk; even if revenue and sales stays the same.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5af7437 elementor-widget elementor-widget-shortcode\" data-id=\"5af7437\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">\t\t<div data-elementor-type=\"section\" data-elementor-id=\"62983\" class=\"elementor elementor-62983\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-45418d4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45418d4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-8182646\" data-id=\"8182646\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2fac0049 elementor-widget elementor-widget-heading\" data-id=\"2fac0049\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Start Creating More Meaningful Relationships With Act!<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34339b3c elementor-widget elementor-widget-text-editor\" data-id=\"34339b3c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tStart your 14 day free trial today. No download or credit card required.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-62a725b7 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"62a725b7\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.act.com\/en-gb\/trial\/act\/\" id=\"free-trial-speedbump-button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Start Free Trial<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b2460e elementor-widget elementor-widget-text-editor\" data-id=\"2b2460e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"sfContentBlock\"><p><strong style=\"font-size: 18px;\">What are the main business growth drivers?<\/strong><\/p><p>Businesses don\u2019t grow by themselves. If a company is looking to achieve organic growth, it will need to put in place systems to drive the growth. Here are the factors that can help a business grow.<\/p><h4><strong>1. People with the motivation and ability to drive growth<\/strong><\/h4><p>The most important factor is having people intent on growing at the head of the business. A growth focused owner can be the driving force behind the company\u2019s expansion. Additionally, other managers and employees need both the motivation and the expertise to push a company to expand.<\/p><h4><strong>2. A strategy that prioritises growth<\/strong><\/h4><p>While people are the driving force behind growth, there needs to be a strategy in place that can push the business forward. This could revolve around bringing in new customers, releasing more products, or entering new markets.<\/p><h4><strong>3. Processes and infrastructure required to facilitate growth<\/strong><\/h4><p>Once the company has people who want to grow and a strategy that prioritises growth, processes need to be put in place to facilitate the expansion. This can include implementing automation software that makes processes more efficient or ensuring warehouses are large enough to store the stock that will be required as a company expands.<\/p><h4><strong>4. Enough funding to make the above possible<\/strong><\/h4><p>The above factors all have one thing in common, they require funding to implement. If an owner doesn\u2019t have the money required to make the right hires, invest in the product, or implement processes, they\u2019ll struggle to achieve growth.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ee0ece elementor-widget elementor-widget-text-editor\" data-id=\"3ee0ece\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h4><strong>Learn more about Business Growth:<\/strong><\/h4><ul><li><a href=\"https:\/\/www.act.com\/en-gb\/measuring-business-growth\/\">How to measure business growth<\/a><\/li><li><a href=\"https:\/\/www.act.com\/en-gb\/business-growth-stages\/\">What are the business growth stages<\/a><\/li><li><a href=\"https:\/\/www.act.com\/en-gb\/marketing-tools-for-business-growth\/\">Marketing tools for business growth<\/a><\/li><li><a href=\"https:\/\/www.act.com\/en-gb\/business-growth-strategies\/\">6 powerful business growth strategies for small businesses<\/a><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-263b60ec elementor-widget elementor-widget-image\" data-id=\"263b60ec\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.act.com\/en-gb\/guides\/best-crm-software\/\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"241\" src=\"https:\/\/products.act.com\/wp-content\/uploads\/2021\/11\/how-to-choose-the-best-crm.jpg\" class=\"attachment-large size-large wp-image-36600\" alt=\"\" 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data-id=\"14fcb440\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Ready to grow your business with Act!?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-2bdfb2b2\" data-id=\"2bdfb2b2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22fbdd05 elementor-widget elementor-widget-text-editor\" data-id=\"22fbdd05\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Book an online demo with a CRM consultant.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column 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data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-32e690fb\" data-id=\"32e690fb\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5bf94b02 elementor-widget elementor-widget-heading\" data-id=\"5bf94b02\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Big results. 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Growth is often good for a business. An expanding company will usually be increasing sales and strengthening its position in the market. However, growth isn\u2019t a strictly defined concept. In this article, we\u2019ll explore what business growth is as well as why it is important for [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[],"tags":[],"folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v22.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Business Growth and Why It Is Important | Act! CRM<\/title>\n<meta name=\"description\" content=\"Business growth can be hard to define. 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