Building While You Fly: Achieving Sustainable Growth for Your Business
Introduction: Building a successful business is akin to our personal development journey. Just as we evolve from infancy to adulthood, our businesses must also adapt and grow to support their expanding needs. Relying on the same foundation that launched your business may hinder its potential for growth. To avoid adverse outcomes such as being trapped in the day-to-day operations, losing customers, team members, and suppliers, and stagnant growth, it is crucial to embrace the concept of building while you fly. In other words, as your business takes off, you must continuously improve and upgrade your infrastructure to soar higher and achieve sustainable growth.
- Evolving with the Right Chassis: Similar to our musculoskeletal system adapting to support our growth, your business needs a strong foundation that can accommodate its expanding size and ambitions. The chassis that served you well during the initial stages may not be suitable for long-term growth. By recognizing the need for a more robust infrastructure, you can build it out to operate independently of you and thrive beyond your individual efforts.
- Escaping the Life of Firefighting: Failing to build while you fly often leaves you in a never-ending cycle of firefighting. You find yourself constantly addressing urgent issues, unable to focus on strategic growth initiatives. By investing time and resources into building a solid foundation, you can release yourself from the daily operational challenges and gain the freedom to concentrate on driving your business forward.
- Safeguarding Customers, Teams, and Suppliers: If you don’t evolve your business, it can have detrimental effects on your relationships with customers, team members, and suppliers. As your competitors adapt to changing market demands, you risk losing customers who seek innovative solutions elsewhere. Additionally, without a scalable infrastructure, your team may become overwhelmed, leading to disengagement or turnover. Suppliers, too, may be hesitant to collaborate if they perceive your business as stagnant. Building while you fly ensures that you retain these crucial stakeholders and foster long-term relationships based on growth and mutual success.
- Embracing a Virtuous Cycle of Growth: Stagnant growth can create a negative feedback loop, draining your business of vitality and potential. On the other hand, building while you fly establishes a virtuous cycle of growth and confidence. By consistently investing in your business and upgrading its capabilities, you attract the right opportunities and talent, further fuelling your growth trajectory. This cycle fosters an environment of continuous improvement and optimism, empowering your business to reach new heights.
- The 9-5 Operation and 5-9 Investment: To successfully build while you fly, it is essential to strike a balance between day-to-day operations and investing in future growth. The traditional 9-5 work schedule may fulfil immediate responsibilities, but dedicating the 5-9 time slot to strategic planning, skill development, and innovation is equally crucial. By allocating time outside regular working hours to invest in your business, you can unlock numerous benefits.
Benefits of Building While You Fly:
Sustained Passion: By embracing the mindset of building while you fly, you remain enthusiastic about your business, constantly discovering new facets of yourself, your industry, and its potential.
Increased Efficiency: Investing time in growth-oriented activities allows you to optimize processes, improve productivity, and streamline operations, resulting in time saved that can be redirected toward expansion.
Competitive Advantage: Remaining proactive and forward-thinking positions your business on the front foot, ready to seize opportunities and adapt to industry shifts, enabling you to attract the right collaborators and stay ahead of the competition.
Sustainable Growth: Building while you fly propels your business toward sustained growth and success, as you continuously upgrade your infrastructure, attract new customers, nurture your team, and forge stronger partnerships. Building while you fly is a critical concept for achieving sustainable growth in your business. By acknowledging the need for ongoing evolution, you can avoid stagnation and unlock your business’s full potential. Escaping the life of firefighting, safeguarding valuable relationships, and fostering a cycle of growth and confidence are the rewards of investing time and resources into upgrading your infrastructure. Embrace the 9-5 operation and 5-9 investment approach, and you will witness your business soar to new heights, driven by continuous improvement and a passion for progress.
To listen to the full discussion from the show: