Go fast or go slow?
How fast should you move
Remember my boat theory, how some companies are oil tankers and can’t move to save themselves and others are speed boats that can turn on a dime?
Am working with a client, very small, not even a speed boat yet (maybe a kayak), and they are getting ready to become a speedboat.
The first question that I ask these companies is: “are you ready for this?”.
Most small companies that are ready to grow “think” that they are ready, but, really don’t put everything together that needs to be done and what will happen when it starts.
So, ask the following questions before you “make the leap”:
1) Do you have enough product to meet supply and demand?
2) Do you have enough staff to meet the demand? (From sales calls to answering the phone.)
3) Do you have the facilities to meet the growth?
4) Do you have a business plan in place to steer you?
5) Do you have the money to meet the growth?
6) Do you have a plan in place to replace yourself? (To bring in a CEO or Business Manager.)
7) Do you have the time to make this happen?
This last one trips up a lot of my clients – because they have children, or have just bought a house, or want to travel the world. It comes down to – are you ready to make this happen or not? Starting a business requires allot of time, but, after it is up and running and you are ready to take it to the next level, you will lose all comfort levels and a lot of what you are working for and had.
What do I mean? After you have had your own business for five years, you have it pretty much down pat – where you can take three day vacation three times a year, you can have children, you can buy a new house, etc.
When you plan on taking your business to the next level, then, you will lose all those “comforts” that you have built to date.
It’s depressing to some degree, but, the pay-off is ten-fold.
Good luck.
