ACCELERATING BUSINESS GROWTH
BY ROSE KELLY
Why growth comes to a screeching halt
I recently met with a business owner who told me she was ready to really frustrated. She had very definite plans to accelerate her business growth, but despite best intentions, the growth she had promised herself was continuing to elude her.
Whatever your motives or needs… realizing and reaching for your growth potential is such an exciting time and place for a business. So, if you feel like this business owner, it’s time to help you get started.
We’ve seen lots of businesses who are growing. It’s no surprise there are a bunch of common attributes in those businesses. There are others that have a real desire to grow but it just doesn’t happen. Often they don’t know why.
There are 3 big pieces in the ‘Getting Started on Growth’ path – they are Leadership, Strategy / Strategic Planning and Systemization.
Being clear about the type of growth you want and the reasons for the growth, then linking that back to your personal purpose is a fundamental starting point in building your business. The integral building block here is have a very clear understanding of your Purpose and Vision. Being able to articulate that purpose or as Simon Sinek frames it “Understanding your Why” is a pivotal point in both getting started and ongoing expansion. From here springs the strategy and plan which enables you to put all the other building blocks together and create your masterpiece Once you have your Strategy and Plan sorted, it is a simple case of execution and monitoring to keep on track. Sound simple? Actually, most of the time it isn’t.
Over time, we have unpacked the reasons why businesses get blocked in reaching their growth ambitions.
Most of the time it is because the business has got ‘stuck’ in SURVIVAL mode. They have grown enough and proven their service offering to the point where they can employ a team and with that comes some initial organic growth. However, at some point it stalls. Despite sales and revenue flowing, it is often sporadic and therefore results are unpredictable and random. A lot of this is due to the Leadership in the business, and the role of the business leader / owner. When the business is stuck in SURVIVAL, the business owner or a key person who is responsible for strategically growing the business is too often caught up in ‘doing’ the business. They are blocked at the stage of working ‘in’ the business rather than ‘on’. Sounds like a simple thing to overcome, but in reality it can be quite a hurdle.
Typically, at this point, the business results or achievements are limited to the personal efforts, energy, time and input of the business owner or key person. Despite an appetite and motivation for growth, the business stalls, and it stalls at a point where the energy and enthusiasm of the people who count are going to be sapped.
At this point the business owner is burdened with questions like:
- “How do I get out of this mess?”
- “Cracks are starting to appear”.
- “I keep employing more staff to deal with our issues but that is not working”
- “I’m working harder now than when I started, and I know that isn’t the answer but I don’t know how to move forward to that better place”.
This is where Systemisation fits in. In fact, it is this very list of questions that suggest to me that the business owner has failed to systemise so that they can leverage off the efforts of others in the business. I understand that Systems and System development can be boring. It takes time and effort but I also know that the pay-off for investing in this is huge. When a business is systemised, things happen despite people. Consistency and predictability abound and the business can deliver what it promises without the hurt experienced in a ‘Survival’ business. Once a business is fully systemised the efforts of the business owner are no longer required to monitor and guarantee quality control. This is when delegation is possible and leverage of the hours provided by employees gives the business the impetus to fly.
If you are stuck somewhere and trying to GROW, take some time out to review what your sticking point/s might be… lack of planning, leadership thwarted by working in, instead of on, or the lack of systems necessary to give you the power of effective delegation so you can move forward.
We are always here to help and if nothing else can quickly diagnose where you are on the journey and what your next sticking point might be.
If you would like to review the Stages in a Business Journey, click HERE for our complete breakdown. You will find out how to recognize what stage you are at and how to help you move forward faster.
I would love to hear how you progress.