5 Lessons I've learnt transforming my business

As business leaders we are all looking for that elusive seam of gold – the path to sustainable growth. I’ve been helping clients pan for gold for the past 30 years, and, as an outsider, it’s relatively easy to bring a fresh perspective to a Client’s challenge – to shift perspectives beyond their own ‘default thinking’.

But over the past few months I decided that I needed to devote some brainpower to my own business – which up til now has been a one man consulting operation – not exactly stellar growth for a consultant who says he’s a growth strategy specialist. And as we all know, growing our own opportunities is much harder than helping other people to unlock theirs.

As with all growth journeys the path has not been linear, it’s been painful, and it’s been full of learning opportunites. So I thought I’d share the key lessons I’ve learnt here.

1. Mindset really matters. 

As a consultant I compete with everyone from the Bain’s, BCG’s and McKinsey’s to research agencies, marketing agencies and a myriad of one man bands. The big guys have more people, more resources, more clients and more money. Until now I’ve struggled to believe I can compete and win against them. But I’ve come to realise that they stand for everything, but ultimately stand for nothing; they have more people, but less experience; they have massive overheads, and so have to charge higher prices. If I do one thing well, if I stand for something; if I offer great value, then yes, I believe I can compete and win.

“Whether you believe you can, or whether you believe you can’t, you’re right”

“Your thoughts become words; your words become actions; your actions become habits, your habits become character, your character becomes your destiny.”

Is your mindset holding you back or propelling you forward

2. It’s not what you sell, it’s what you stand for. 

All consultants sell advice. I’ve spent 30 years advising clients. But I’ve spent little time thinking what about what I stand for. I’ve taken on projects in many industries to solve many challenges. A true Swiss Army Knife of capability. 

Some projects have paid the bills, others, as Heineken would say,’ have refreshed the parts that other projects have not reached.’ Those magical projects have been the growth projects, the ones that require creativity and analysis; the ones that turn paradigms on their heads and ultimately improve the quality of life and standard of living for all a client’s stakeholders. 

So I’ve decided to hang my hat so to speak, to find my strategic sweet spot, to stand for something. And that hat is to be a ‘Growth Strategy Specialist.’ It’s what I do better than anyone else, it’s what I’m passionate about, and with grit, perseverance and a good shaking of luck it should drive my economic engine (and that of my clients).

What’s the strategic sweet spot for your business (as defined by David Collis)? “What do your customers want (Your Purpose) that you can provide (Your Mission) that competitors do not provide?”

Our Purpose (what our client’s want) is to ‘Grow Your Market, Grow Your Share and Grow Your Business.’

3. Be Distinct, not Different. 

We’re all different, but often in only superficial ways. I like acoustic, you like jazz. I row, you run. I use PC, you use Mac. My logo’s dark blue, yours is green. Few brand and businesses are truly distinct. IKEA is; ALDI is; Mini is; Steinlager Pure is. 

It’s a question that’s been bugging me for years on my own business. What makes my offer distinct to other providers? Most large consultancies and agencies have big teams, want to do more research and charge eye-watering prices. 

But I’ve rarely found a shortage of information, and I’ve often observed resistance when outsiders proclaim they know better than a Client's leadership team.

So our Mission, our Distinctiveness is to take your data and look at it with experienced, but fresh, eyes. We give you the outsider’s perspective on your growth options (brands you can grow more effectively, brands you could reposition and new products/services you could bring to market) so you can design your strategy by choice (take the best of your ideas and the best of ours) and not by default (just your own thinking). 

We’re not smarter than you, we’re not better than you, we just have the advantage of not living in your business day to day. We have a fresh perspective.

What makes you distinct, not just different? What should you say 'Yes' to and what ought you say 'No' to.

4. You have to engage potential customers – you have to market and sell. 

For years I’ve sourced work from people I know. But you don’t grow your business by staying in your comfort zone, waiting for customers to come to you. When you know you can add value to others you gain the confidence to go out and offer that value. Not in a pushy, salesy kind of way, but with respect and humility. Everyone does the best they can with the knowledge and skills they have. But the benefit of living in today’s connected world is that we can find and hire specialised skills that deliver outcomes that neither party could achieve on their own.

So rather than being invisible to the world I’ve chosen to stand for something (growth strategy specialist), share my knowledge and engage with a broader audience who might benefit from some of the insights I’ve gained over the years – and from whom I can learn in return.

Are you being truly effective in engaging with, and growing, your customer base?

5. Business is about discipline and process. 

Doing work is one thing; building a business is another. Building a system that engages customers, having a process to do the work, understanding what you value and where you are going are all critical elements of building a business that are quite different to doing the work. They are all activities I’ve advised on but had not built for myself. The journey has been challenging and tough, but enlightening and fulfilling. My website will be up and running next week (1st October 2017) and I’m in the process of building my network.

Building a business is quite different to managing one, but it is where all the growth and happiness come from.

Do you have a clear Business Model to bring your value to life in the market?

As Socrates said 'Focus on building the new'

As Socrates said so long ago “The secret of change is to focus all of your energy, not on fighting the old, but on building the new.” The world may appear so different today, but the principles that drive it remain unchanged.

Wishing you every success in your transformation and growth journey.

Tim Sargeant. Market Maverick. Growth Strategy Specialist