EPISODE E3.002 Creating and Implementing Growth Foundation Plan

Introduction
New week, same perspective with greater conviction.

After being attentive to the weekend news about the continued arbitrary government response to COVID19, there is only one course for the business owner - ignore their word salad of concern and work around it. 

Being passive and waiting for the right decision will put you out of business. There are only two ‘people’ who have that right - you and the customer.

IBGR is committed to your success and our programming is for legal aggression (OK, I’ll make it nicer - assertiveness) to open, stay open, and be profitable.

Unlike the rest of society - we have your back.

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Show Objectives
Stage III, what is there to say. You have proven the business idea (Stage II) and now its time to move into a more structured operation. Unstructured worked up to now because there were too many unknowns to carve anything in stone. That argument ends now.

The way to look at Stage III is as a transition from Stage II to Stage IV where you take the lessons learned and grow the company into its full potential - as resourced today. Your focus is on both the Failure Points of Stages III and IV, and the opportunity for hockey stick growth in front of you.

Key Issues - ​Owner Perspective:

1. Planning and budgeting have moved from informal to formal,
2. Compile a list of lessons learned from Stage II,
3. Determine the total capacity of the operation,
4. Identify the gaps between current operations and full capacity,
5. Build/upgrade financial processes, production processes, back office operations, marketing and sales processes - to close the gap.

What You Need to Know
Failure Points Stage III

• Owner Trap - Owner unable to transition from direct supervision to delegation; bringing in another level of management with role specific expertise to manage day to day.
• Unmanaged conflict between "new hires" and "old timers". 

​Failure Points Stage IV

• Unbalanced mix of new sales vs. production while servicing existing accounts;
• Destruction of working capital due to uncontrolled growth;
• Insufficient infrastructure: over promise and under deliver caused by failing to build capacity in Stage III. 

Background

• EPISODE E4.001 FAST GROWTH FAILURE POINTS
• EPISODE B.029 BENCHMARK ANALYTICS
• EPISODE B.018 YOUR FIRST REAL BUDGET
• EPISODE A.021 THE OPERATIONS ELEMENT
• EPISODE A.010 PRICING STRATEGIES & METHODS

What You Need to Do

1. Lessons learned in Stage II - products & services, marketing & sales, back office
2. Determine the full capacity of the operation - the 100% or full potential of the business
3. Determine the gaps between today and full capacity
4. Build infrastructure to close the gaps and deal with failure points
5. Plan a Soft Launch to test everything with best accounts
6. Make adjustments from lessons learned
7. PR and Marketing Campaign prior to Hard Launch
8. Hard Launch = Stage IV

Shows

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