How NOT to Reach the Next Level!
Jun 30, 2016 01:57PM
By Melanie Heisinger
What stops us from taking our businesses to the next level in growth and success? For too many, actually having a definition of what the next level is can be an obstacle. As the saying goes, “if you don’t know where you are going, any road will take you there”.
The reasons are numerous. I requested feedback via a LinkedIn group post recently on this topic, and here is what I received:
- Failing to recognize what stage of growth we are in, and what key elements are needed to get it to the next stage
- Having the wrong strategy
- Having the right strategy but implementing it incorrectly.
- Poor strategy and poor execution.
- Not enough action is taken.
- Non-specific results and benchmarks
- Incomplete planning and execution of the plan by when one says it will happen.
- Short sightedness
- Wrong personnel
- Inadequate drive to accomplish objective and goals.
- Cash flow
- Too much thinking and not enough doing
- Not having a business plan that is designed for sustainability and growth
- Not executing the plan
- Reaching our level of competency and failing to reach out for help to bridge the gap
- Failure to establish an advisory committee of outside perspectives
- Inability to manage employees.
- Don’t make necessary changes for fear of rocking the boat
- Don’t redo/update the business plan.
- No succession plan.
There are several themes in this list:
1) No clear plan
2) Poor execution
3) Dealing with change
Creating a Vision and Mission for your business is a critical first step. This includes defining success in measurable terms so that you can see progress (or lack of). Developing a clear roadmap of steps that must be taken to achieve the end result is next (a clear Business Plan), which includes strategies, target dates, and responsible parties. Do you have the ability to build such a plan? If not, get the help you need! Your dreams are worth it!
No plan is worth its salt if it isn’t executive effectively. You must ask yourself: Do I have the ability to pull this off? Am I organized enough? Do I have the management skills required to make the necessary decisions? If not, get the help you need! Your dreams are worth it!
Moving your business from where you are now to where you want it to be will require changes. Some changes will be difficult, and you will be reluctant to make them. This will involve changing the way you think, the way your business operates, the kind of talent you will need, your business model, the use of technology, your target market, and so on. You will need objective perspectives to keep you on track. You may find that you need to bring on talent and delegate this to them. Recognize your own limitations and be willing to step to the side when necessary. Your dreams are worth it!
Recognize that you will be a limiting factor. You can’t know it all, do it all, touch it all, and decide it all. There is only so much of you to go around. As long as you seek to make yourself the center of the business, the business can only get as big as you are! The real payoff comes from building something that will grow beyond you.
It all starts with a plan….
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