Growing the business is arguably one of a leader’s biggest challenges. But the real challenge is doing it cost effectively without losing key talent. At the same time, it is critical to rally the organization’s stakeholders around the vision even it seems that the company will come undone by the pace of change. Here are 5 things that you should beware of as your company grows rapidly:
- First of all, and counter to your intuition and perhaps the desperation you may be feeling as your company begins to grow rapidly, adding people will not solve your problems and miraculously handle your workload. If anything, the more people you add to the firm, the more complexity you bring in. Plus it can be expensive and add to the chaos.
- Don’t assume that because you have a brilliant strategy that you are home free. As the old cliché says, “culture eats strategy for lunch.” If you are not managing culture and don’t have the right team, your strategy is not worth the paper it is written on.
- Don’t get so busy working in the business that you don’t work on the business. Are you letting important issues slides simply because you don’t have time to discuss them with your team, let alone take the time to resolve them? This is a case of “pay me now, or pay me later.” You can handle issues before they become crises or spend your whole time battling those crises.
- Make sure that in your haste to get more sales, you don’t neglect your people or your processes. Talented people and solid processes will keep your business successful and help you grow.
- Last, but not least, make sure that you have the leadership skills and competencies to continue to lead your company into its bigger future. Just as you need to develop your business, you must continuously learn and grow your capabilities.
In the midst of managing the day-to-day business, consider these questions as you work on your business.
How well do you feel you as a leader:
- Have a common, compelling vision?
- Are able to effectively execute and implement the vision?
- Have a practical plan to grow the organization in a cost effective manner?
- Are able to identify critical issues before they become screaming emergencies?
- Are able to make decisions quickly and effectively?
- Are able to drive projects, while engaging and developing people and improving processes?
- Have a strategic plan that engages every single employee in the company?
- Have leaders who are able to adapt to the needs of the organization as it grows?
- Have the ability to surface and discuss difficult issues?
- Are completely satisfied with your current strategic plan?
These questions will provide insight on where you might want to continue to work on the business while you work in the business.
What if you as a leader could grow your organization or business cost effectively and with less, turnover and chaos. What if you were able to engage and rally all your employees around your vision for the organization and execute on your strategy? Jean Ann Larson & associates help individuals, leadership teams and organizations successfully transform themselves while growing their businesses. Executive, team and employee development are our areas of specialization. We use cutting edge diagnostic tools and facilitation methods to deliver effective results and improved outcomes. Contact us today at 800-823-4330 to learn how you can grow your organization while improving your business results.