Help! I’m Drowning in My Business….
Do you ever feel like you’re barely treading water? If so, take comfort in knowing that you’re not alone.
We hear all kinds of stories from our clients, and know that for every seemingly unique or complex or bizarre situation, there is yet another new one waiting around the corner. Here are some of the things that we have seen and heard:
- “We have a great idea for new business, but don’t know when we can possibly do anything about it. I can’t work more than 19 hours a day.”
- “My people accuse me of micro-managing. I just want to know what’s going on.”
- “I promoted my best salesperson to sales manager, and all of our sales people are ready to kill him.”
- “Everything has become so specialized and technical that’s it seems impossible to keep up with everything I need to know.”
- “Our competition today is completely different than it was a couple of years ago. We’re afraid that we’re losing ground.”
- “How can we increase sales today? There must be something that we can do now.”
- “It’s time to add a higher level of professional to our management team. This will be a big investment and we have to do it right.”
- “I haven’t had a vacation in years – it’s just impossible for me to get away.”
All businesses suffer growing pains. And this is a good thing (although it can be a pain to get through when you’re there). Think of it this way: if you don’t experience symptoms like these, then your business probably isn’t growing.
Managing a growing business requires you to change the way you look at the business strategy. Whether you nurtured the business from its infancy or you’re the first professional “hired gun” who is responsible for raising the bar, start looking at things differently.
Here are some issues that you need to address:
- Does the business have a real vision and strategy, or is it growing based on whoever will buy your products or services?
- Or, perhaps the original business strategy no longer makes sense. Have you taken time to think it through and, in effect, re-vision the business?
- Are you hiring the right level of professional to do the best possible job at the level of standards that you want to uphold?
- If you’re not hiring (or outsourcing) at the right level, do you know what’s holding you back?
- Have you established relationships with financial partners who are committed to your growth?
- Is your professional support team (attorneys, CPAs, insurance brokers, consultants) at the right level for your growth? (Hint: perhaps you’ve outgrown some of them.)
- Are you falling into the trap of workaholic who can’t easily take a day off and replenish?
- Are you spending too much time working in the business instead of on the business (and do you know the consequences of this)?
This list could go on, but you get the picture. If you’re not satisfied by the way you answered some of these questions, you need to determine your priorities and decide how you can have a fresh approach to your business strategy.
Sometimes it’s hard to prioritize, but doing so will be infinitely better than being overwhelmed by your business. We provide a variety of solutions, based on your specific situation.
If we’ve touched a nerve (or two) and you’d like some advice, we’ll be happy to give you a complementary telephone consultation. Please contact us, and then let’s roll up our sleeves and see what needs to be done.
© 2016 Lisa M. Aldisert