This article is about growing, which sounds like a very basic subject. After all, growing is part of our lives.
Let’s take the children as an example. One of the basic things we expect from children is that they grow. We expect them to grow physically. Some kids grow slow and others a bit quicker, but we do expect our children to grow and get taller.
We also expect our children to grow in knowledge. We expect them to progress. And so, all we do in primary school, is getting them prepared for secondary school. And at secondary school, we prepare them for college. And at college we prepare them for the job market. Then something fascinating happens! 18-22 years of fast growing from walking and talking to the job market and then it suddenly stops.
Ok, they get an induction, but how long is the average induction in a company? Five minutes? A Day?
Some may have dropped out of school earlier, starting their own business and quickly realising it is very difficult to keep up. Some of us have experienced that first hand.
Well, we are now in 2014 and the economy is looking up and we need to be ready!
1. Is your business ready for growth?
2. Are you, as a Business Owner ready for growth?
3. Is your team ready for growth?
Is your business ready for growth?
When you started your business a number of years ago, maybe it was so small that you started to work from home. You sent your invoices from a nice Microsoft template and kept a spreadsheet in Excel.
But then the business started to grow. Your accountant started to ask for detailed numbers. You got some staff to help you, and what happened then? You didn’t fit in the garage anymore and suddenly you had to deal with Payroll and VAT.
Or, you have a business that is running for a number of years, you started growing and as an owner, you can’t control everything anymore. You want to oversee all the aspects of the business, but now you are dependent on others, who are, of course, not as good as you.
This is where you must ensure you are continually ‘Setting out the Stall’. (See Ray Moore’s- The Levels’)
It is key that you review regularly on how your business is doing. And you need to put things in place that support the growth.
Think- Are your premises big enough to cope with 25% growth?
Is your accountancy package up for handling more invoices and VAT reporting?
Do you have enough engineers or sales people to support an increase in demand?
Which brings me to my second point.
Are you, as a Business Owner, personally ready for growth?
Because so often we start our businesses and we forget that we need to develop ourselves.
We just get going and we see whatever happens. We have all felt like busy fools at some point.
Ask yourself these questions:
When was the last time I read a business book?
When was the last time I watched a training video on YouTube?
Spent just 10minutes thinking about what you want to achieve this year?
You might say, “I do not have time for that”.
Great, carry on. Fact is though that there is normally no end to a treadmill. You keep running and running. Until you are completely exhausted or bored.
Just small changes in your day could have big results- how much time do you spend traveling? How many audiobooks on growing your business could you listen to?
Einstein said: Insanity is doing the same thing over and over again and expecting a different result.
And lastly, are you preparing your team for growth?
You might have heard the conversation before between a MD and his Finance Manager
The Finance Manager is complaining that the company is spending so much money on inductions, training and development. And when people are trained, they leave and go work for other companies. To which the MD says, but what if we don’t train them, and they STAY!
So, how about your company?
And this question is not just for the Business Owners here. If you are a member of staff, what are you doing to develop yourself further? Don’t wait for the company. If they don’t want to invest in your development, make sure you do yourself.
And, if you are growing as an owner or director, make sure that your team is growing with you. Otherwise you run the risk that the gap between you and your team is widening, which will not help your business.
So, when the economy is going to kick off this year.
Is your business ready?
Are you as an owner ready?
Is your team ready?
I wish you all well on your journey!