Have you ever wondered why it’s so hard to breakthrough from one level of success to the next? Your business grows to a point and then stops dead in its tracks. It’s beyond frustrating.
Your first thought is to beef-up your company’s marketing efforts. You hire outside consultants. You build a new website. You invest in expensive brochures. You spend a fortune of money and still you can’t breakthrough.
Your expensive consultants shrug their shoulders and move on to their next victim. Meanwhile, you pay their bills and wonder what went wrong.
Why can't you break through??
The answer is simple:
Business growth is self limiting –
and, the limiting factor is your time.
You can’t breakthrough because you have run out of time.
Think about your company’s last significant growth spurt. To take advantage of that growth, you needed to coordinate all the moving parts of your business. You needed to sell your prospective customers, take orders, answer their questions and correct problems.
As you work with new customers, what happens to your older relationships? Well, you’re only human, and you only have so much time. Odds are, you banked on the loyalty of established relationships, and freed up time – at your older customer’s expense — to nurture your new relationships.
For the most part, your strategy works because your customers love you. However, you upset just enough older relationships to offset your new business growth. On top of that, you may experience normal attrition – a customer might move, go out of business or merge with a different organization. In the end, you may experience a net sales loss.
Your circumstances may be a little different but the results are the same. You’re stuck in neutral. No matter how hard you gun your marketing engine – no matter how hard you work – you are going nowhere.
Now, at least you can understand why – because business growth is self limiting. You’re working so hard "in your business" that you don’t have the time you need to work "on your business."
What’s the solution?
The answer is simple: You need to build a solid business foundation that allows you to responsibly delegate your work to an empowered team.
The key phrase is "responsibly delegate." Sure you can hire employees and fob your work off on them, but this will only provide a temporary fix. In the long run, this strategy makes you too dependent on employees who can quit with a moments notice.
Think about the key employees you rely on, right now, in your business. What kind of stress would you experience if just one key member of your company suddenly quit or had an unexpected leave of absence? Now multiply your aggravation and imagine if two key employees quit at the same time.
Can you see how dangerous it is to become too dependent on employees?
A permanent solution is to build a solid business foundation that standardizes your company’s day-to-day operations including an effective leadership routine. Your objective is to make yourself irrelevant to day-to-day operations and to make your employees "plug-and-play."
Imagine the benefits of transforming your company into a business that runs itself:
* Your stress levels will melt away.
* Your business can grow quickly without losing older customers.
* The value of your business skyrockets because prospective buyers are attracted to growing company’s that are easy to manage.
* You can take a long vacation without worry.
* You improve customer service, innovation, productivity, employee morale, etc.
Creating a solid business foundation is a prerequisite to achieving your company’s breakthrough to unlimited growth and success.
What do you think? Have I convinced you to build your manangement foundation first? If so, let me know. I'll lead you to more information on the topic.
If not, write a comment and we can disucuss your point-of-view.
Mike Kramer, CEO