Successfully growing a business is much more than just selling more stuff. You must also prepare yourself and your business for a larger more complex world.
Yogi Berra is quoted as saying “If you don’t know where you are going you will end up somewhere else”. Business objectives specify where you are going; they are your destination. They give you direction to drive your company’s growth.
Successful business growth is not a miracle. It is the result of business owners directing all their talents and energies to the single purpose of building a bigger business.
The world’s oldest form of business partnership is alive and well. In fact it is thriving and growing. It is the business partnership of two people who live together; they are called copreneurs.
“A business without a vision is directionless. It lacks purpose,” writes Michael Gerber in his latest book E-Myth Mastery. You cannot plan the future of your business if you do not have a vision.
David was a very ambitious and proud man, who was desperate to be very rich. To this end he traveled the globe, spending years away from home searching for a diamond mine. He knew that once he owned a diamond mine his dream of riches would come true.
The implication that success will automatically follow a plan is misleading. While plans are extremely important, they are only half the battle. The plan will give you the road map but you must still manage your business. Unfortunately, few of us have had any serious training in the management of a business and the trial-and-error approach of learning is fraught with danger.
Do you know the purpose of your business? Do you clearly understand why you started your business? Have you communicated this purpose to all those who work with you? Have you documented the purpose? If the answer to any of these is ‘no’ then you are probably finding it difficult to stay on course as you are bombarded by the day-to-day surprises lurking in your future. The solution lies in the Power of Purpose.
One of the common attributes of successful people, whether they are athletes, entertainers, or business leaders, is their ability to focus. They are able to concentrate all of their attention and energy on the right things in the right way. They are focus gurus.
How hard it is sometimes to stay focused; to put in that extra effort to achieve the business results we want. How easy it is to be wooed by the warm day to play a round of golf when we should be making sales calls. How easy it is to rationalize that taking the afternoon off will be made up for next week. This is especially true when there is no one to hold us accountable; ah the freedoms of business ownership!
Are you finding it difficult to stay focused on the “important” things because there are too many “urgent” things needing your immediate attention? Do you start each day determined to achieve your goals but end the day with important work undone? To add misery to this confusion are you working harder and harder and getting absolutely nowhere? Are you failing to make any progress despite your efforts? These are all indications that you are stuck on the Fragmented Focus Treadmill.
Cholesterol is often described as the silent killer. High cholesterol is bad for us and yet there are no symptoms. There is no pain; there is no nausea; there is no shortness of breath. That is why doctors regularly check our cholesterol.
The book Good to Great by Jim Collins was first published in 2001 and immediately caused a sensation. Its findings and conclusions about the attributes of truly great companies opened the eyes of many business strategists and the lessons learnt from it were applied in numerous organizations.
Growing a business is a risky business. In fact there are more risks associated with growing a business than there are with starting a business. Four of the most common hurdles preventing business growth are:
- The business owner is too busy to work on growth activities.
- There is not enough money to finance the growth.
- The business owner has gaps in knowledge and experience
- There is no growth plan.
One of the major barriers to business success is not having a coherent well thought out strategic action plan. Once this hurdle is overcome the business owner faces another equally debilitating barrier. They don’t have the time and/or resources to execute the plan.