Before you get too excited about big ideas for growing your business, ask
yourself whether you need to grow, or simply want to grow. The difference
between want and need could mean the difference between success and
failure.
“There’s a big difference between what people want and need in life, and the
same principle applies to business”, says author and trainer, John Lees. “For
instance, although most people want to be fit, look good and stay in shape, by
far the majority do not possess these attributes. This is because they only
have a weak desire, or a want (based on media images), rather than a
serious reason, or a need (they must be fit and in shape)”, he
adds.
So while many businesses might want growth, most have not cultivated a need
for growth. “To want growth usually means wanting more money, more power, to be
perceived by others to be successful”, says Lees.
“To need growth is to have a product or service of value that you
desire more customers to experience. Or it might be that you have good staff
who need more responsibility and a higher challenge, or perhaps you need to
block a competitor from taking a position that could erode your business. And,
of course, if you have such needs then it is natural that you would privately
hope to make more money and be more successful”, he says.
Tips to achieve growth
To achieve growth you need to attend to a number of key issues:
- Stand back from the day-to-day running of the business and discuss growth
moves with one or more quality thinkers.
- Organise research to confirm the levels of opportunity you have
identified.
- Make a plan for growth that is realistic and achievable, in terms of
numbers and time involvement.
- Take calculated risks. Growth cannot be realised except through foresight,
planning, flexibility and determination to succeed.
- Prepare to put in more total effort in order to ensure short term results
stay healthy, while planning for new moves.
Lees’ own example
In Lees’ own business, he’s at the point where aiming for growth is an
important issue.
“Revenue is not the problem”, he says, “not that I wouldn’t welcome greater
income. It is simply a case of needing to spread my wings. As a speaker,
consultant and trainer, I have created valuable educational concepts and
business development systems. So I am investigating how I can attract good
quality trainers and consultants who can work with more clients in more
markets, with my services.”
“This is not just a question of finding good people. I also have to consider
the time needed to train them properly, and I have to determine how we promote
our ‘new’ services. All of this is a serious and challenging need for
our company, and not just a wish for more money and a bigger business.”
No gain without pain
Implementing growth plans is an exciting and worrying time, so prepare for
problems and changes. And commit to a more demanding role in future, for growth
means more effort and responsibility.
“This brings into question again the point of need, with the emphasis on the
personal side this time. Are you ready to put in more time and effort, and you
are happy and indeed capable of contributing at a higher level?” asks Lees.
With growth come growing pains for both the business and the individuals in
it, especially the owner. “But this can be forecast as easily as new parents
accepting that their lives will never be the same again”, he adds.
New habits will be needed, in both a personal and business sense. “On the
personal side it is imperative that you make time to enjoy recreational
pursuits, otherwise the growth achieved will be resented”, says Lees.
Positive delegation
So, let’s assume that you determine that growth is a need. You will need to
learn to work in different and more efficient ways, and delegate
effectively.
“Here is the background to positive delegation”, says Lees. “There are three
forms of work: generative, regenerative and degenerative. Generative work
involves stretching yourself in new areas of business thinking and
contribution. This kind of work is exhilarating and forms the basis of creative
effort. Regenerative work involves important tasks that you have done before
and must do again on a regular basis. This kind of work must be continuously
improved. Degenerative work involves tasks that you shouldn’t perform, and this
work should be delegated to people who can probably perform the tasks better
than you. Regenerative work can perhaps be shared, but degenerative work must
be delegated within or outsourced, otherwise it will detract from your more
serious tasks”, he says.
Because growth can be tough, some small businesses fail to achieve it and
they either go out of business or they regress to their smaller operations.
Lees makes some final points to consider. “The cause [for growth failure] is
that too many people start businesses for the wrong reasons, most of which
relate to making more money or doing less work. The definition of ‘winning’ is
progress through struggle, and the greatest struggle for any small
company is not external conditions, but internal motivation and commitment. If
you have a product or service of value, and you are continuously improving the
product or service, then enjoy the struggle of achieving growth.”
Why don’t you make a Business
Review appointment today to discuss your plans for growth?
