 Today's show completes Discipline #3 on how to Professionalize the Business . The last 2 weeks we covered the Rules of Leadership, and the Rules Of Management. This week we complete the circle of Professionalizing the Business by discussing a logical process for sustainable growth.
PROFIT RADIO - "A Network of Entrepreneurs for Entrepreneurs" Introduction We introduced the 5.15.80 Model at the beginning of the Season. It was a combination of research into small business performance and our practical experience from the last 2 decades. You could go to any area around the global with a market based economy and randomly select 1,000 companies, here is the distribution you would find: 5% or 50 companies that own their markets, 15% or 150 companies that are making money, and 80% or 800 companies that are barely surviving. This series is about how to move from one level up and our concern in this series is the 80%, not how you get here - that story would be too ugly. The focus now is how to create a long-term future for the business and join the 15%. LISTEN > ENGAGE > APPLY Show Objectives We are going to cover the 3 Phases of Growth that is fast and sustainable, then breaking down each into the respective stages. What we are covering today is not something you will find anywhere. Disciplines to Date
Key Issues - Owner Perspective:
What You Need to Know Starting with the end in mind, the focus of this segment is not about business perfection, which is not possible beyond a fleeting moment. Living in a dynamic environment requires quick decisions under conditions of limited information - decisions that are less than perfect and have consequences known and unknown. Our research over the past 18 years and 5 start-ups demonstrated the growth process is dynamic and predictable, but not preordained. In general terms, all well managed businesses go through a minimum of 2 Phases; Performance and Profits, and depending on the owners long term goal – a 3rd Phase of Renewal. Each Phase has a set of Stages necessary to successfully complete the goals of each Phase. Our objective is to enable you to achieve a state of optimization where the assets of the company are best utilized to achieve its goals, and to follow through on your long-term plan – sell or reinvent the business. There is a third outcome, decay which is the result of not having clarity on the end game for the business. Since it is a result of poor growth leadership or procrastination, it warrants no further elaboration. My primary lesson after four decades of business consulting is each Growth Phase & Stage present a set of challenges that must be met and a series of failure points avoided. None of these challenges are positive or negative in the traditional sense. Instead the issues confronting the business owner should be viewed as “Normal” or “Abnormal” - are these challenges predictable for a specific stage or not? Every company, regardless of the economy can thrive - not just survive and achieve fast and sustainable growth. The difference is informed leadership and our Phases and Stages of Growth Report provides structure to those demands. What You Need to Do PHASES & STAGES OF FAST AND SUSTAINABLE GROWTH Performance Phase
Next Week - RESET to Break Even with IBGR
We are your single, one stop source for business success, period, end of story. Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.
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