by Kent Covington
What is the single greatest limitation to the growth of your company? What is the single greatest thing that can fuel its growth? The answers to both of these questions are one in the same.
It’s not the economy. It’s not your staff. It’s not your competition. If you are the President of your company, the single greatest key to its success is...
YOU.
The decisions you make determine the course of your company. They determine whether it treads water or takes off, whether it survives or dies.
John Maxwell, author of The 21 Irrefutable Laws of Leadership calls this the “Law of the Lid”. It is the notion that the leader of any organization is ultimately the “lid” atop the organization. If–on a scale of 1 to 10–a leader is a “6”, the company he leads will never be a “7” or an “8”.
However, there is a flip side to this coin. If you are a “7”, on a leadership scale of 1 to 10, it is equally unlikely that your business will be limited to a “3” or a “4”. You are both the greatest limitation to your company and its single most important asset.
In short, as the leader of your company, it cannot grow in spite of you. It must grow BECAUSE of you! So, what exactly can you do to raise the “lid” and fuel the growth of your business?
WORK ON YOUR COMPANY... NOT JUST IN IT.
If you’re like most small business leaders, you spend the vast majority of your time managing day to day operations. It’s possible that you’re not only managing operations; you are performing them as well. You might spend a good bit of your time in the warehouse or behind the counter, serving customers.
There is something to be said for that, to an extent, but let’s think of your company as an NFL or MLB franchise for a moment. Can you imagine a sports team whose General Manager spends nearly all of his time handling coaching duties, or maybe even suiting up and taking the field? Can a team accomplish anything great without someone at the top, concentrating on the big picture, charting a course, and improving the team?
Many businesses struggle because the owner/leader spends more of his or her time in a coach’s or player’s uniform than in the General Manager’s chair. To put it another way, they spend more time working IN their business than they spend working ON it.
What am I suggesting? Should you detach yourself from the front line of your business, buy a fluffy cushion for your desk chair and sequester yourself in your office, popping your head out only on occasion to bark out orders from on high? Certainly NOT! It is very wise to remain in touch with every aspect of your company’s operations. However, the fact remains… if you are not concentrating on the big picture, no one else will. No one else can.
Just as a General Manager must continually work ON his team, and map out a plan to improve it… YOU are the person responsible for the growth of your company. You cannot allow yourself to be so preoccupied by working IN your business (handling day to day operations), that there is very little left of your time or energy to invest in improving the profitability of your company.
THE DRAWING BOARD
Ok, in very practical terms, what can you start doing differently to fuel growth?
First, beginning this week, delegate as many operational tasks as possible, and devote more time and attention to the long range health and growth of your business.
Second, read and challenge yourself as much as possible. Read whatever you can get your hands on that might give you new ideas to grow your company. Don’t be afraid to close an office door and spend some time reading pertinent books, articles, and blogs.
This might not feel quite right, at first. A little voice in your head may insist that you should be out working rather than at your desk reading. But remember, you are the only one who can lead your company forward. Whenever possible, let your staff turn the wrenches so you can concentrate on building a better engine.
Next, if you have the freedom to do so, take a few days away from the office to think about your store, your warehouse, and your customers’ needs. Get away. Seriously. We’ve all heard it said that getting away can help you clear your thoughts, but it’s just a trite notion, right? Would it hold up to scrutiny in an episode of Myth Busters?
Dr. Gregory Berns, who is a neuroscientist, psychiatrist, and the Distinguished Chair of Neuroeconomics at Emory University (in other words, a really, really smart dude) says the following in his book Iconoclast:
“Did you know that when you see the same thing over and over again, your brain uses less and less energy? Your mind already knows what it’s seeing, so it doesn’t make the effort to process the event again. Just putting yourself in new situations can make you see things differently and jump-start your creativity.” “The surest way to evoke the imagination is to confront the perceptual system with people, places and things it hasn’t seen before.”
It’s true… getting away from office can open up your mind to new possibilities. So do it!
OK, so you’ve got some time to think in a comfortable, outside (of the office) environment. Now what? Now, start thinking of new ways to improve your company in three areas: management, customer service, and marketing. This article would turn into a book if we tried to cover all of the considerations in each of these three areas, but here are a few things to think about and ask yourself as you ponder your action steps:
MANAGEMENT: How can you better reward employees for exceptional performance? How can you increase operational efficiencies?
CUSTOMER SERVICE: Frankly, good customer service is expected, so “good” is not good enough. You’ll know you’re on the right track when customers are genuinely surprised by your service. Literally… surprised. Blow them away with your service. Find out what all of your competitors offer, and make sure you are at least a level or two beyond them in terms of customer services. Your return policies, delivery… whatever it may be, make sure you offer more than your competitors.
MARKETING: In what way(s) do you offer a greater benefit to your clients than your competition? Be specific in your answer! “Our people make the difference” is not an acceptable answer to that question. The advantage you offer must be very specific and tangible, and it must be something your buyers truly care about. We’ll talk more about this in the December issue of the WinMarketing newsletter.
Figure out how you are tangibly different and better, and look for ways to communicate that difference. Also, consider how your marketing communications can focus on your customers needs more than your qualities. Use the words “you” and “yours” far more often than “we”, “us”, “our”, or your company name.
And one final note in regard to moving your company forward… Never, NEVER scale back your customer service or your marketing in a slow economy. These are the two most important factors in keeping your existing customers, and winning over new buyers. Marketing and customer service build market share, and in a recession, you need all the market share you can get. Stay on offense!
IN SUMMARY
1 – Delegate operational tasks to free up time to work ON your company, rather than just working IN it.
2 – Take time to read and challenge yourself as much as possible.
3 – Get away from the office and free your mind to find solutions.
4 – Consider how you can improve your company in terms of your management, customer service, and marketing. Remember, YOU are the single greatest key to the success of your company.
You can grow your company, even in a slow economy, if you stay on offense, and work ON your company more often than you work in it. Here’s to your growth!
