Posted: January 11, 2018 by Robert Craven
Most businesses grow by accident. The owner gets up early, goes to bed late and somehow the whole thing comes together as it discovers which are the open doors to push against. Business growth by fluke (despite what the owners and directors may claim about their strategic savviness). Typically, early growth is based on the “we’re cheaper and we try harder” mantra. This is not sustainable overall.
At some point, normally too late, the owners and directors need to decide what it is they really want and what it is that they don’t want. Usually they discover that they are plummeting down the side of a valley when it is too late to turn around. The sunk costs are too great and, after all, what are the alternatives?
Eventually, someone needs to take control and ask the board, “What is it that you really want?”. By definition, that will also tell you what you don’t want. Select your own list of attributes, my list might look something like this:
How many people do you want to employ?
What turnover/revenues and profitability are you chasing?
How hard do you want to work?
Is this a job for life or do you plan to exit and, if so, when and for how much?
What is the endpoint you are trying to get to?
Have you chosen the best route? Have you considered all the other potential routes?
If this has twanged a nerve, give me a call to discuss – 01225 851044. Robert.