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Tag: Growth without chaos

Unlocking Business Growth: Navigating Stagnation, Stuckness, and Chaos

Unlocking Business Growth: Navigating Stagnation, Stuckness, and Chaos

Written by Lindokuhle Ntombela on . Posted in Asset of Value, Grow & Exit, Insights, Mindset, Positioning, Scale & Grow.

In the world of business, growth isn’t always a straightforward path. Many business owners, regardless of their experience, encounter three common growth challenges that can leave them feeling frustrated and exhausted. Let’s delve into these challenges and explore strategies for overcoming them.

1. Stagnation: When Growth Hits a Wall

Stagnation in business is like running on a treadmill—you’re expending energy, but you’re not getting anywhere. Business owners often attribute this to external factors, like market conditions or economic fluctuations. However, it’s crucial to recognize that stagnant growth often reflects an inward-looking, passive approach.

The solution? Start by re-evaluating your business mindset. Instead of dwelling on external factors, shift your focus to what you can control. Embrace change, be proactive, and actively seek out growth opportunities. Blaming external factors won’t drive progress, but a change in attitude and approach can.

2. Stuck Growth: Spinning Your Wheels

Stuck growth is akin to trying to move a car out of the mud—you’re putting in effort, but the wheels keep spinning. In this scenario, your business might be making deliberate efforts to expand, but the outcomes remain disappointing.

To break free from this situation, it’s necessary to reconsider your approach and actions. Understand that what worked in the past may no longer be effective in the current business landscape. Re-evaluate your strategies, investments, and operations. Seek expert guidance if required. Don’t persist with the same methods if they’re not yielding results.

3. Chaotic Growth: Thriving Amid Turbulence

Chaotic growth can be both exhilarating and overwhelming. Your business is expanding, but it feels like you’re constantly putting out fires. Daily operations become increasingly complex, and you’re pulled in every direction.

To regain control during chaotic growth, focus on establishing a robust foundation. Reorganize your business structure and operational processes. Simplify workflows, delegate responsibilities, and introduce systems that can handle growth efficiently. Building a structured foundation will prevent you from getting bogged down by the daily whirlwind.

Regardless of the growth challenge you’re facing, it all begins with a shift in attitude and approach. Recognize that your business and the business environment are in a constant state of evolution. What worked in the past might not be effective today. Embrace change, take control of your business’s destiny, and adapt to the evolving landscape.

In the words of Thomas Edison, “Opportunity is missed by most people because it is dressed in overalls and looks like work.” Don’t let these challenges deter you; instead, view them as opportunities to evolve and thrive in the ever-changing business world. Unlock your business’s growth potential by adopting the right mindset and strategies.

To listen to the full discussion from the show:

https://omny.fm/shows/the-money-show/small-business-focus-how-to-solve-the-three-domi-1

chassis

Build a chassis that can support your business’s growth

Written by pippa@aurik.com on . Posted in Leadership, Operational systems, Positioning, Scale & Grow.

Business growth increases complexity: More customers, more locations, more employees, more suppliers, more money, more inventory and….more risk.

Where does risk come from?

  1. You start to doubt whether you have the skills to run a complex business. That seed of doubt can fester and become self-fulfilling
  2. The business you loved becomes demanding, a nightmare, all the excitement you felt when you started it – goes away. And you think that you do not want growth as it’s too hard, But if you aren’t growing… you’re dying.

Is there an analogy we could use to understand it better? 

Listen to Pavlo discuss a couple of analogies in this episode of The Money Show:

 

 

Pavlo argues that using the idea of the chassis of a car – the framework that bears the weight of the vehicle, is a strong analogy for building the framework of your business to support increasing complexity.

In a business, the chassis is everything that is needed to consistently deliver to their customers, to solve their problems. It is all of the systems and processes that you need to fulfil your promises to customers. Your business chassis needs to be strengthened to prepare for the growth that is coming so fulfilment is not compromised as you get more and more customers and orders.

Another way to think of it is how human beings grow: When you’re born, until 20 or so, you grow in spurts. A baby is born, then it grows in height, then there’s a filling out phase, then more growth, and so on. As we grow in height, all the energy in our bodies is going into making our bones taller. Then there’s a lull but during this time the muscles and tissues are building to hold up the next spurt of bone mass. It’s preparing the body for the next phase of growth.

When we find our business in chaos, we need to pause growth to build the muscle to support the growth. Get your systems in order.

 How do you get it right to grow without the risk spoiling it all?

 Choose a sport that you want to excel in – let’s take shotputter and a long jumper.

The two will be very different to look at. The shotputter will be solid and heavy and strong. The long jumper will be lean and long and flexible.

Figuring out which sport you’re in is the same as positioning your business… it determines every decision from then on.

What they both have the same is internal organs: lungs, kidneys, liver etc. In business these are your business systems. Procurement, finance, HR, operations etc – they are consistent across all businesses.

To take these athletes to Olympic heights, you have to ensure the organs are healthy and functioning optimally. Regardless of their particular sport. And then build the muscles needed to be a shotputter.

Finally – measure that performance to check constantly what is responding well, what is working and what needs work.

This data, both in terms of what is coming down the pipe, and the capacity of the business to deliver on it, will be critical to maintain your growth rate.