What’s Holding Your Business Back?
You started your business and it grew pretty well in the first couple of years or so. It may still only be in the research and development phase and not yet producing income. But it’s still grown from a seed of an idea to something that exists in reality and not just in your head. So you might be asking yourself what’s holding your business back?
You’ve reached a roadblock, a brick wall, an inflection point. Whatever you want to call it, something is happening that means your business has stalled. You are getting increasingly frustrated with the lack of progress and you’ve been looking into the reasons for it.
So far, you’ve come up with a few ideas of your own around lacklustre sales, poor branding or positioning. Maybe you’re not charging enough or charging too little for your products or services. You might even be thinking that if you have staff, they might not be the right people.
What’s clear to you though, is that something needs to change.
What’s interesting about business is that this ‘stuck’ feeling or inflection point can happen at the early stages and to really mature businesses with large revenues. I spoke to a £72 million turnover business that wanted to get to £150m and wasn’t quite sure how to get there. They’d been stuck around £72m for several years and were very frustrated.
You might think that’s a nice problem to have, but rest assured, a business that is stuck somewhere is going backwards, no matter how large or how big the revenues are.
So, what’s the answer if you feel something is holding your business back?
In our experience, we know there are some really simple things you can do to move your business forward in a sustainable way that brings you the growth you’re seeking.
In fact, we’ve got it down to such a fine art that we’ve created models and frameworks to guide you through the process of unsticking your business.
We reckon you ought to consider the Players on the Pitch first. Have you got the right people taking full accountability and responsibility for specific areas of your business in place?
Where to Next?
Then we believe you need to consider your Purpose, Vision, Mission and Values which tie into the culture of your business. Are these things clear? Do people understand what they’re aiming for and what the business does and doesn’t do for its customers and clients? We call it Culture as a Platform for Growth and assist companies to build sustainable cultures that promote rapid growth.
We then look at your Economic Engine. What’s happening in your revenue cycle and what isn’t happening. If sales are not coming through in the way you expect, then there’s something you’re not doing quite right in this cycle.
Our methods are tried and tested and they work. A media agency increased their revenues by 65% last year after implementing our know-how. And a construction company grew revenues from £2m to £3.5m in nine months. All because we worked with them using our expertise. They’d been stuck for almost five years!