Is your business ready for growth?
How do you know if you could benefit from working with somebody like me?
Is your company ready for growth? This is such an important question and it’s one of the key areas that I address when working with new clients. If you don’t have the below things in place, you’re likely to have rollercoaster results and you could run out of cash.
- Control of your cash
- Planning execution
- The right people
- Competent leadership
This video will talk you through how to avoid riding the rollercoaster and how to ensure that your business is ready fro growth
Cash is one of the most important things that you need to understand in your company, and that’s because growth sucks cash. You need cash for additional people and infrastructure, and you need more working capital to support your growth. If your business is not throwing off enough cash, or the cash is getting stuck in places where it shouldn’t be, then that will constrain your growth, which will lead to you either having to put money into your business or sourcing external finance.
Some businesses are chaotic and if you scale chaos, then you’re likely to run into problems and your customer experience will suffer. What you want is a business that has a specific way of doing things, where the right thing is done in the right way at the right time. By not identifying key processes you’re not going to have a smooth growth journey and your team members may leave.
So many businesses suck at being able to deliver on their business plans and often this is because the business plan is confined to the ‘business planning drawer’. You want a methodology to be able to create meaningful plans which you can then execute with a regular planning rhythm.
Your business will grow through people and your ability to build and lead a high performance team A critical part of your business foundations will be making sure you’ve got the right bums on the right seats and that you have a clear recruitment plan to support your growth journey.
As the leader, you need to be able to manage your business growth. You need to understand your growth plan properly and anticipate the challenges that you might face. If you don’t get the foundations right then you risk falling into chaos, having rollercoaster results and ultimately not fulfilling your potential as a business.