Connect with us

Entrepreneurs

3 Ways You Can Get Back to Basics While Accelerating Your Business Growth

Published

on

accelerating business growth
Image Credit: Unsplash

Young kids are a living, breathing, walking and talking reminder of how important the basics are. They usually underestimate simple everyday tasks and create new chaos in the process. This creates a real time reminder for themselves, and everyone around them, of how important getting back to the basics are. If you have ever watched a baby try to walk or eat, something you do every day, this is very clear.

A growing business is much like a growing child. Rapid growth during the first few years, independence and confidence as the idea grows into a profitable business, and eventually adolescent rebellion once the taste of success comes in. As a business grows, change becomes inevitable, and can very often be unmanageable and overwhelming.

A business can also experience growing pains. From adding staff, to something as simple as time management, the growth of a business can sometimes be more stressful than the death of a business. Success hinges on adaptability, but it is equally important to take time to recognize what got you started when the business was just an idea.

Here are some of the stages your business may be going through, and the way to adapt and grow effectively and efficiently:

1. The terrible twos

As your company grows, the expectations of it and you will change. You are no longer the new kid on the block with limitless potential. Sticking to your core values and adapting to change becomes a full-time balancing act. Very often this early onset of success allows you to hire more people and expand your reach. Especially in companies experiencing hockey stick growth, you may have forgot to create a corporate culture when it was just a few of you in a garage.

Even if you are in an early stage of your company it is important to document the work you are doing and create Standard Operating Procedures (SOPs) and expectations of every task you are completing alone. Once you hire someone, it will be much easier to train them if you can hand them a document telling them this is how you do it.

“Without continual growth and progress, such words as improvement and success have no meaning.” – Benjamin Franklin

2. The tween years

People can get so busy working in their business that they forget to work on it. Be sure to notice the borders of your company and plan how to broaden them. As a company now with profits, employees and resources, you’re keeping busier than ever, but not sure what is next. Much like a child still needs their parents for some of the basics like food and shelter, during this stage of business, coaches and mentors are so important. Be sure to surround yourself with people who are where you want to be and learn from them. This is the make or break point for many businesses so make sure you are working and surrounding yourself with the right people.

3. Entrepreneur adolescents

Many teenagers feel like an adult, because physically and mentally they feel like they are there, but socially and economically they are not even close in most cases. Success can be blinding and create this same false positive for a growing company. Success can create a comfortable bubble that can distract from further growth. The comfort can create slip-ups and mistakes. Be mindful, and don’t let progress slow you down.

During this stage of business, coaches and mentors are still a key factor to success. They may not be the same ones you had in earlier stages, but the great thing about today’s market place is you can find someone out there to get the advice and guidance you may need. In this phase it very well can be a peer or someone on the same level. 

So, what can you do about this day to day? Read below:

1. Back to the Future

Go back to old emails, files, photos, and reminisce. Every venture has a beginning. The photos and emails you have recorded and collected can be just as much an inspiration as your current goals and challenges. Make sure you have the TimeHop app on your phone, this will help jog your memory.

2. Get feedback

Talk to clients and get feedback. We get many chances to talk to new clients, but make sure you go back and question old clients to understand their perspective on your work and business. Ask them about the changes they have noticed and whether the same kind of qualities are still there when they started with you.

“No company can afford not to move forward. It may be at the top of the heap today but at the bottom of the heap tomorrow, if it doesn’t.” – James Cash Penney

3. The Social Network

Networking is key as well, both on and offline. Listen to new people and new customers. You will see plenty of new faces along your journey up, make sure you are receptive and accepting of the new kinds of ideas these people bring along with them. Rigidity can kill a business. Make sure you are networking with the right people online via social media. During all stages of growth, it is so important to be networking in person locally, and make sure you get on a plane and go to an event!

Remember, a business is run by people, and as a CEO and Entrepreneur, you are a person. Make sure you keep growing your business, because if you’re not growing your dying.

Mike Ficara is a business development consultant and the host of The Start Down Podcast. He has had the opportunity to work in a variety of industries over his career including Classroom Teacher, Technology Specialist, Director of Curriculum, and in Business Development. This vast experience provided the insight into how people learn, leadership and most importantly what motivates people to succeed. Given this knowledge and experience, today Mike spends his time coaching and consulting where he has the privilege of working with many successful business leaders as well as entrepreneurs. To learn more about Mike and his mission visit www.MikeFicara.com

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

How Today’s Successful Entrepreneurs Are Prioritizing Social Impact

By embracing these strategies, companies can boost their reputation, attract stakeholders, and foster long-term success

Published

on

social impact
Image Credit: Midjourney

Social impact strategies have gone from pure PR play to an important part of modern businesses’ corporate policies. These strategies let you create a positive footprint and align with customer expectations and employee values. (more…)

Continue Reading

Entrepreneurs

The Entrepreneur’s Guide to Biohacking: Leveraging Technology for Mental Edge

Biohacking is a way to enhance your health, optimize performance, and boost productivity all of which directly impact your success.

Published

on

biohacking for entrepreneurs
Image Credit: Midjourney

As an entrepreneur pushing to see your business succeed, you might feel like spending every bit of your free time grinding away even sacrificing sleep, is the only way to make things happen. While this may be true to an extent, the impact on your overall health and the long-term ramifications on your business might not be ideal. (more…)

Continue Reading

Entrepreneurs

How to Build an Unstoppable Leadership Team in Any Economy

By investing in talent leadership, organizations not only build a strong bench of leaders but also enhance overall productivity, competitiveness, and long-term sustainability.

Published

on

talent leadership
Image Credit: Midjourney

As the global economy recovers from recession, the competition for top talent has reignited. Companies that downsized during the economic downturn are now scrambling to rebuild their workforce. (more…)

Continue Reading

Entrepreneurs

The Smartest Way to Expand Your Business Without HR and Compliance Headaches

Scale your business efficiently with PEO services and smart hiring

Published

on

Professional Employer Organizations
Image Credit: Midjourney

Navigating the Modern Business Landscape

Our modern world is changing rapidly, and significant transformations are taking place, particularly in the global economy. Businesses are expanding at an unprecedented pace, making it crucial for company leaders to not only comply with local labor laws but also manage payroll and tax regulations. (more…)

Continue Reading

Trending