What Got You Here May Not Get You There
Many business owners start out with a high level of determination and optimism which helps them successfully launch and grow their business through the first phase. However, after a few years, this determination and optimism can begin to erode as the vision for your business is hit with the realities of flat sales, employee issues, and working too many hours.
If you’re ready to take your business to the next level, it’s time to step back to review your leadership, strategy, and advisors.
Leadership
You’ve likely worn many hats while growing your business. From CEO to marketing strategist to content creation and number-cruncher, most entrepreneurs know just enough about everything to get their business off the ground and through the first growth phase.
For the next level of business success, it’s time to evaluate whether you need more knowledge or expertise to drive the business forward. Maybe you’re weak on the numbers side and should hire a CFO. Maybe your marketing plans seem outdated and it’s time to seek an expert. Maybe you’re feeling burnt out and need someone who can lead the team. Take some time to analyze the leadership team you’ll need to take your business forward.
Strategy
When you first became an entrepreneur, you likely created some type of business plan. Then things got busy. You’ve been moving fast and furious to keep up with the demands of running a successful business, which means you rarely take time to update the plan or key strategies. Most business owners spend more than 90% of their time working in the day-to-day operations of the business and rarely take time to identify strategic growth opportunities or reassess their goals.
Even though it’s hard to find the time, updating your plan and creating a pathway to reach your goals is the key to taking your business to the next level. To find the time on your calendar, make a commitment to block out at least two hours of quiet planning time each week. Time set aside for planning and big-picture thinking creates space to come up with new ideas and goals for success.
“Time set aside for planning and big-picture thinking creates space to come up with new ideas and goals for success.”
Advisors
If you’re like most business owners, your advisors are providing services when you make a request or when you need a tax return or legal documents prepared. While these services are important, they aren’t usually driving your business forward.
Imagine how much faster you could take your business to the next level with advisors who are taking the time to learn about your goals and are working with you to develop and implement key strategies. Imagine the increase in profits you could experience if an advisor performed a full analysis of your business and created a plan for increased profitability.
At Wagner Business Consulting, our motto is front and center, “When you have the right people in your circle, everything is possible.” We begin with a deep-dive analysis of your business and create a strategic plan in alignment with your goals. Then, because it’s too easy to get busy and lose focus, we provide a six-month implementation process focusing on the key strategies to reach your goals.
We help businesses grow in a smart and strategic manner.
Taking a short pause to evaluate the timing and potential hurdles to growth will increase your odds of success.
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