How to grow your business without DOING more
One growth trap I have seen is that bigger does not always mean better. Be careful that growth for growths sake make not be a mistake. The problem is that structural weaknesses in your business may mean growth will outpace your strategy. Progress can turn i to stress for you and all your staff as systems start to buckle.
The goal should be planned strategic growth, the kind that makes you more profitable but also more free, not busier. There are levels of business stature, which one are you?
- The Grinder. This is where you are doing everything, and none of it very well. If the business stopped for 48 hours, it would collapse. You do not have a clue what is working and what is not working. Its not really a business yet, it’s a job, with all the business worries.
What you need is leverage. Systems, automation and people.
- The Operator. You have hired some staff and have some momentum, but you are stuck. You cannot go away for a few days without the wheels falling off. You have some things working well but you are not sure why. You have bottlenecks and every decision is made by you alone.
What you need is real delegation. Creating frameworks for your team can operate without you.
- The CEO. Now you are running a real business, and you are scaling smart, not hard. You can focus on vision, leadership and strategy and you know what things are working well and why. If you are still getting down “in the weeds” on small matters, you are leaving a lot of lost profit on the table.
What you need is profit optimisation. Every minute of your time should now be spent on high leverage activities. List all your tasks and see if you can delegate 50% of them.
- The Investor. This is where the real money and freedom is. The business is now a machine that you own that builds your wealth and you have plans to exit one day. The business will have multiple revenue streams and is run mainly by your staff.
What you may need is a capital strategy to shift your focus from working IN the business to working ON the business, while multiplying your wealth outside the business.
A lot of business owners think growth means doing more. The real path to growth is doing less, better and smarter.
In the next 60 days do the following:
Remember if I can be of any help to your business simply email at info@tappadvisory.com.au or ring me on 0411111588 and I will be happy to assist, at no cost to you.
Warren Tapp
Tapp Advisory, Business Consulting Gold Coast.
Business Profits Made Easy.
Resources from the Tapp Advisory Store:
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Board Basics – Hard Copy – A simple introduction to the roles and responsibilities of Directors on Boards. It is a non- technical book you can use as a handy reference guide if you report to a Board, or you are appointed to one in Australia. It is a 68- page paperback.
Questions for Company Directors – Hard Copy
The book ‘Questions for Company Directors’ is a simple handbook to inform directors about the questions they need to put to management as part of their oversight role.
Directors should keep this book handy at all times – and keep asking those questions!
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Club Board Training to improve your Club Governance
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Does your Organisation’s Board, Committee and each of the Directors know how to do their jobs?
Now there is a solution to ensuring your Board or Committee know how to do their job and protect your Organisation!
Club Governance Online Training Program is for all Board and Committee Members
Does your Organisation’s Board, Committee and each of the Directors know how to do their jobs?
Now there is a solution to ensuring your Board or Committee know how to do their job and protect your Organisation!
Got a question? Or need a hand?
Please contact me for an obligation free chat.
