28 Feb I Get It – I Actually Got It! Learn from my mistakes!
I Get It – I had to make some mistakes and overcome some challenges but you can learn from my mistakes. Do you often find yourself saying that you need more time, cash, good people, and sales?
I get it! Every business owner has hundreds of issues and things going on every day. It’s hard to figure out where to start developing long-term solutions while you keep on fighting fires and trying to stay afloat through it all.
I know this because I myself experienced this not too long ago. I remember going to the office daily, working long hours, hoping my staff would show up and taking on all facets of the business as my own. I spent time making sales, handling general operations, managing projects and just about everything else.
As I devoted my energy to addressing all of these basic tasks, I would also find myself abruptly changing course to seek out a new solution or idea that might address my needs. I call this the “shiny object syndrome” that I often suffer from because of my visionary qualities. Unfortunately, this often yielded no real solutions and made my problems worse, not better.
Deep down I knew that something had to change, but I didn’t know what that something was. After running my business for about 20 years, I wanted it to grow from being a one-man operation that occasionally used consultants to a larger company hitting our first million dollars in sales. It turns out reaching those goals wasn’t as simple as I thought it was going to be.
I learned that my business had been successful when it was small, but was not as profitable after adding more people and clients. I took a step back and looked at the differences between then and now. I asked myself, “What was working for me in the past, and why is it not working now?”
I engaged a coach, who helped me push the business through to the next level and worked with me to dig deep down into my personal motivations and pursuits. These conversations cut through all the clutter and distractions, allowing me to focus on my actual core values. After some serious soul-searching, I was able to articulate my fundamental “WHY”.
Once I had a firm grasp on my personal core values, I was prepared to formulate the company’s mission and vision. I began evaluating every action, process and project based on these values. I kept them in mind during every business decision, whether it was a simple conversation with a client or selecting an applicant to fill a vacant position.
This practice transformed a business that had hit its ceiling into a thriving one that could function on its own. Now, I don’t even need to show up to know that everything will be okay. The employees are able to run the operations completely on their own!
I was only able to do this by empowering and coaching my team. Once I had the right people working in the business, I was able to step back and work on the business in the six key areas (outlined below). This is what truly fueled our growth.
Since overcoming the obstacles that hampered my efforts, I have shifted my focus and passion over to a new mission: showing clients how to do the same thing. I advise other business leaders so they can reach the same position I am in now – where they can live and achieve their vision and mission.
I now help companies move forward by breaking down their business and sorting it into six components. This type of goal-alignment allows leaders to maintain their course towards important milestones, even when taking relatively small actions.
As business leaders, it is our responsibility to understand our own values and goals so that we can completely express the company’s vision. We need to determine and focus on the major things, like building a team of loyal and dedicated team members.
We must accept responsibility for our present position and for articulating where we want to be. (And always do our best to resist the temptation to chase shiny objects!)
If you want to build a truly strong business, then you need all of your team completely fixated on the same result. If your employees are fully aligned, well-led and genuinely motivated to reach the goal, then there is nothing that can stop you from succeeding.
The 6 Key Components of Business
Out of the hundreds of issues and ideas, you may have, focus on these 6 as we did:
- Vision: Know your core values, your big goals and your “Why?” statement.
- People: Find the right people for your company and put them in the right seats. This may be a challenging task, but is well worth the effort.
- Data: Have a simple 13-week scorecard to gauge your progress in sales, AR, AP, connections, etc. If you see negative changes, stop them before they become trends. The score card system allows you to make changes before it’s too late.
- Issues: Identify the critical issues you face so you can discuss them and find solutions. Simply creating a list of key issues can be very therapeutic.
- Process: Don’t get caught up on documenting 100% of your process. We recommend recording 20% of your main processes, including HR, sales, customer interactions, and accounting. All team members need to follow the same process and not deviate in order for this to work.
- Traction: Set your 90-day must do’s and get your team aligned to those objectives. Have weekly meetings to make sure everyone is on track.
If you are going through what I went through, I want you reach your goals quicker. Please connect with me and I would be happy to share some tools and more about my findings with you.
To learn more about how we solved our pain points watch this webinar: