So many of the business leaders I work with are struggling with the same challenges when it comes to achieving their goals – whether that be increased profitability, more clients or market share.
Under pressure to meet growth expectations or just to keep the ship afloat, I have found that there are some consistent themes and behaviours at play that actually make the
For those with their own business, some of the common issues are that:
- The business is growing faster than cash flow can keep up;
- There is a reluctance to spend more money because cash flow is already tight;
- The founder is trying to do everything themselves to save money and maximise opportunities.
Whilst for those leading big teams in big businesses, the stressors aren’t that dissimilar:
- The business is growing fast but at a small or non-existent margin;
- There is a reluctance to spend money because budgets are tight and it’s ‘easier’ to cut costs; and
- The leader is trying to be everywhere at once and coming under increasing pressure to meet deadlines and budget forecasts
Whether you are a corporate leader or an entrepreneur, whilst caught up in this daily struggle it gets harder and harder to see the proverbial forest for the trees.
Forget strategic decision making and big picture vision - whilst in this state of mind most business leaders default to trying lots of different things and hoping that one of those will generate more results.
Of course it never really happens that way.
The more you try to do everything, using a scatter-gun approach, the more exhausted and reactive you get. This is bad on a number of levels, and actually has the effect of putting the business further and further behind where you need to be. Think split focus, a burnt out team, a goal that becomes less and less clear and an increasing sense of desperation and short-term focus – none of these are conducive to great results.
Working with a client recently, I was reminded yet again how easy it is to lose sight of some really simple strategies that businesses can employ to maximise sales, profitability and customer satisfaction – regardless of how big or small you are.
In this particular case, my client could see a myriad of opportunities in their industry and was trying to frantically take on all of them.
This split their focus, put the team and cashflow under more pressure, and didn't actually result in them being able to pick up any new business.
The key here is coming back to what your core offer is.
Under pressure to get results, the tendency is to throw more and more things at an offer.
The trouble is, by doing that, you get further and further away from what the core speciality of the business is. What is it that you do really well that you are known for and customers will pay for?
Under pressure, our ego rears its head. We want to believe that we can add more and more bells and whistles, more product types, more offers. We want to believe that we can ‘build it ourselves’ and ‘save money’ by not outsourcing to someone else or partnering.
Of course, this never ends in success, for reasons outlined above.
An alternative approach is to create trusted relationships with other specialists in the industry who are already providing services aligned to, but different from your core offer.
If you do this in the right way, you can not only meet the needs of your clients, but build up a powerful reciprocal partnership model in the process – AND stick to what you do really well.
If you want to grow your business profitably and sustainably, without exhausting your team and burning time, energy and money, go back to basics and define your core offer – then find a great group of partners to add the rest.
I help time poor business leaders to create more time, more energy and more impact.
Most business leaders are so busy trying to do it all that they end up tired, frustrated and spread way too thin. So I’ve created a program that helps them get rid of the noise and zero in on the stuff that gets results, so they can grow their business AND take time off.
After working with me, they reduce hours spent on reactive tasks by 80% and halve the time it takes to reach their goals.
Sound like something you want to explore? Then let’s chat – click here to arrange a complimentary chat.