How Do You Grow: Part 2 of the Traps of Scaling Business

How Do You Grow: Part 2 of the Traps of Scaling Business

Business Culture Leadership Profitability

In Part 1 of this blog, we introduced the scenario that many business owners face once they are through the initial start-up phase and are generating momentum… and that challenge is scaling business effectively and sustainably.

We’ve addressed the first two traps to scaling: neglecting profitability and neglecting culture.  Let’s look at the other 3 common pitfalls of the rapid growth phase of business.

Adjusting to Market Changes

The marketplace has changed since you successfully launched with your unique proposition. Customers are more savvy and demanding, and your customers have innovated to bring new features and services that rival yours. When Yellow Tail wine was introduced in 2001, it was the first blended wine to offer a more complex flavour experience that was still pleasing to most, an economical and everyday wine experience. It enjoyed tremendous success until competing products of equal value joined the offering, and Yellow Tail needed a new strategy to continue to compete.

Question to Action: What is your next move to reclaim your competitive advantage while meeting customers’ needs in a unique way?

Different Strengths are required from your Management Team

Your management team includes you, as the CEO and Founder, and one of the most common pitfalls of rapidly growing businesses is the loss of control.  As you build out your extended team in the business, you and your managers need different competencies and strengths than when you launched. You will need to be effective at delegating, coaching and holding accountability in order to ensure you are aware of action and progress, and your direct reports are clear on their responsibilities.  You will also need to increase your capacity for complexity, removing yourself from detailed hands on activity, and overseeing more diverse activity, and provide more of a visionary role in anticipating future needs and mobilizing resources to address these. You and your management team may grow with the business, or you may not.  It might be time to make changes in the team now so that management capacity will carry your business successfully into the future.

Question for Action: What leadership strength gap in you or your team is hurting the business right now?

Business Operations cannot handle the Volume or the Complexity

Operations and systems is what most people think of when thinking of scalability challenges. You may reach the limit of the capacity of your manufacturing equipment, or your labour hours, or your processes and IT systems cannot handle the load as business grows.  Perhaps you need to finance the purchase of new capital, or you need a larger facility, or your distribution channels need to be expanded.  Or possibly you need to do a hiring blitz, revamp the process flow of documents through the office, or make improvements for efficiency. You took great care in choosing your operating model before you launched, and it’s important to revisit that regularly to keep it working optimally.  Often the biggest problem is not knowing where the true problem lies.  You may need to call in the expert team such as an Advisory Board to troubleshoot for you and develop the best solutions. Talk to us to find out how our Expert Advisory & Implementation Team can help.

Questions for Action: What one thing, when resolved, would have the greatest impact on your business’ ability to grow?

There is nothing more rewarding than building a business from the nothing, into a thriving and profitable workplace, making a positive difference in the world. And we want you to be aware of the potential pitfalls so you can maximize your chances of success.

How are you navigating these scaling challenges in your business? We’d love to hear from you so leave us a comment below to join the dialogue.

Until next time, be free… and wild,

Sue

Which Fears are in Your Way?

Which Fears are in Your Way?

Business Leadership Personal Growth self development

In Part 1, the first blog in this series, I shared with you two ways to know if you are getting in our own way – one is recurring problems that are actually patterns for you, and the other is unconscious programming that is running your behaviour without you being aware of it.

Now let’s look at the third way to know if you’re getting in your own way.

3. Your doubts and fears are causing you to second guess yourself

Everyone has dragons to face. As a successful business owner, you’re no different.  In fact, most of us have become quite adept at masking those dragons with compensating or offsetting habits, rather than facing them head on.  But they are still there, those doubts and fears, in the deepest undercurrent of our being, and they are consuming valuable energy that would serve you much better if it were released!

A Harvard Business Review article exposes the top fears of CEO’s and it can make your hair curl. It’s both shocking and a relief to a) learn that high-powered executives are, after all human, and b) that we’re not the only one with dragons under our beds. Take a look at what CEO’s are most afraid of, in rank order below. I have added the limiting belief system that underlies each fear, and adapted the resulting effects from the HBR article, so that you can check-in with yourself to see which of these dragons is running your show.

FEAR

LIMITING

BELIEF

EFFECT

1

Being found out to be incompetent I am an imposter

Reduced confidence; undermine relationships; silo thinking

2

Underachieving I am a failure

Take bad risks; lack of ownership and follow-through

3

Appearing too vulnerable I am weak Avoid honest conversations; inauthentic; hiding parts of oneself

4

Being politically attached by colleagues I am not safe

Mistrustful and overcautious; too much political game-playing

5 Appearing foolish I am a fool

Avoid speaking up; avoid honest conversations; tolerating bad behaviour

Notice your inner reactions to the statements in the chart. Your conscious mind will attempt to argue with you that that fear or belief is not true, but deep down you will know that you know that it’s running at your core… you will feel the familiarity, feel the resonance, feel the truth of it.

Every single fear is driven by a limiting belief, which when changed, will eliminate the fear. Your natural state of being is love, not fear.  Fear is never truth. And it wreaks havoc with our confidence and self-esteem. So let’s release the veil of fear shall we?

Do some self reflection. List your greatest fears. Then let’s get together and transmute them into success-driving programming so you can get on with creating the success you dream of.  Now that’s Wildfire Alchemy!

So, are you getting in your own way?

If any of these scenarios is describing you, then it’s time to up-level your personal leadership mastery.  Contact me today to schedule a complimentary consultation.

Until next time, be free… and wild.

Sue

Are You Getting in Your Own Way?

Are You Getting in Your Own Way?

Business Leadership Personal Growth self development

It might be time to up-level your leadership development

There’s a common expression that is a great are-you-getting-in-your-own-way tool in the personal & professional mastery industry.  When we get caught up in the reasons and excuses about why we aren’t getting what we want in life and we start playing the blame-game (come on, you know what I’m talking about) then our colleague or coach will remind us that whenever we point our finger at someone or something, there are always 3 other fingers pointing back at us!

It’s a great time to laugh at ourselves. Because really, when we’re struggling and fighting with all these external things in our lives, we can step into the relief of realizing that it’s something within ourselves that needs to be addressed, and great news – that’s totally within our control! And that means it’s time for some inner leadership development.

Here are 3 ways to know if you are getting in your own way.

  1. You have a problem that keeps recurring

It’s sometimes difficult to see the forest for the trees, when you are in the thick of it.  But when you take a moment to pause and reflect on a challenge or issue, you will often see how it’s been repeating in your life.  It may be repeating within a certain area of your life, for example you realize that your staff is just not understanding what you expect from them, and your customers are misunderstanding the delivery process and your vendors are confused about the timelines… the common denominator is your communication.  At other times, it may be a recurring theme in different areas of your life, such as you tolerating your office manager being habitually late, and your friend reneging on their promise to help you paint the rec room, and your daughter always managing to squeeze that extra $20 out of you… the common theme is your lack of boundaries.

A recurring problem is always pointing to a pattern and it it’s a pattern in your life, then it’s all about you.  So resolve the pattern rather than a specific issue and you’ll clear out all the problems connected to that pattern.

  1. You’re using all your education and training and you’re still not getting the results you want

Knowledge and intellect are not the only factors in success. Whether you trained in B-school or the school of hard knocks, you likely have unconscious programming that is placing a ceiling on your success, and it’s completely out of your awareness.  Perhaps you are a sceptical kind of person, always considering the downside and risk, and planning contingencies. On the surface that sounds like a good business practice, however the negative possibilities need to be considered and handled swiftly, and preferably not by you as the business owner, so that you can get on with focusing positively on your future targets.

Your thoughts are best focused on your vision, your goals and the positive results you are in the process of creating.  There is scientific evidence to show that those who remain positively focused on their desired outcomes are more likely to succeed.  Leave the risk management to your right-hand guy or gal and be the visionary that you need to be in your business.

When you’re not getting the results you want, your first place to look is in the mirror. Here’s an amazing arrangement of Michael Jackson’s Man in the Mirror by PATAX and special guests.  Stay with it to the end for the wonderful latin-inspired jam. The lyrics are powerful too.

There are an unlimited number of unconscious programs like this that can overthrow the most brilliant leader.  And it usually takes an intimate conversation with a trained professional to identify and change them into success programs so you can get on with growing your business.

In Part 2 of this blog series, we reveal the third way that we get in our own way and some shocking insight into the top fears of the most senior leaders.

Until then, be free… and wild.

Sue