Publication number: ELQ-20045-1
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How to Accelerate Your Business Growth
7 Force Multipliers Accelerate Your Business Growth
The military has long recognized that machine guns are force multipliers for rifles, but businesses have been slow to capitalize on this concept. Sometimes all the planning in the world isn’t enough for business survival, when things change as fast as they do today. Every business, especially startups, needs all guns blazing quickly on every opportunity or insight into the market.
This point was highlighted well in the classic book, “Disrupting Digital Business,” by R “Ray” Wang, CEO and Principal Analyst of Silicon Valley-based Constellation Research. I recommend that every entrepreneur and small business investigate and implement as many as possible of his seven new business force multipliers that I will paraphrase here:
- Step n°1 |
Information sharing through social media networks
The speed, interactivity, and sharing we can do today through the social media networks of Twitter, Facebook, and many others is a major force multiplier. Communications that traditionally could only be broadcast to all can now be done on a customized person-to-person level, interactively.
- Step n°2 |
Soliciting user-generated online feedback and reviews
User generated content that is immediately available to other users is another positive force multiplier. Of course, it can also be a negative force multiplier, if you are not paying attention as an entrepreneur, or choose to challenge your customer’s view of reality.