The 5 Pillars of growth
Grow A Small Business
Grow A Small Business with more confidence, less loneliness and (yes) more ease. Let's Get Into It!
From my 24 years of starting, buying and growing 15 small businesses with 30 different business partners in 3 countries I have succeeded and failed in many corners of a small business.?
In the last few years, as I started to pull together content for our ‘Business Transformation Program’ - all the advice I would give myself (if I could jump in the Delorean, like McFly), on day one of starting out (1 December 1999) - I summarised what I believe are the 5 Pillars to allow you to grow your small business, with ease.
They are:
As you will have heard me say many times on the podcast, “I believe people are the hardest thing in small business AND where the greatest value lies.”
People is where we focus around half of our teachings in the Program courses, and weekly one-on-one over the 18 weeks.
All things people - leadership, management, recruitment, onboarding, training, feedback, coaching and delegation.
The truism that “the right people are your most important asset” was borne out of an extensive six year study by Jim Collins, and published in one of my favourite books (listed below), in 1994.
Collins and the team wondered why the 18 visionary companies they studied (in business from 1926 through 1990), outperformed the general stock market by 15 times, and their comparison company 7.5 times (when the comparisons outperformed the market 2 times).
They went into the study thinking it was due to:
It was none of those.?
It was people, specifically, the right people.
Effective leadership, kick-ass management and most importantly - as Collins coined in his second book - “the right people”, comes from one of my favourite quotes
“First who...then what. We expected that good-to-great leaders would begin by setting a new vision and strategy. We found instead that they first got the right people on the bus, the wrong people off the bus, and the right people in the right seats - and then they figured out where to drive it. The old adage ‘people are your most important asset” turns out to be wrong. People are not your most important asset. The right people are.’”
Do you have the right people on your bus, and in the right seats?
Are 90% of them A-Players, who lift you and the business up, or drain your energy and create more work?
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One Tool or Professional Development Resource
I highly, highly, highly recommend any small business owner serious about growing their business read this classic, “Built to Last: Successful Habits of Visionary Companies”.
Then, read Collins’ second book “Good to Great”.
If you’re not investing at least 30 minutes a day, 2.5 hours a week, in your Professional Development (PD), build the habit - use dead time like driving or exercising and you will easily knock over a book a month.?
Expand your mind, pick up tips for growth and inspire yourself and your team with material from each of the many corners of a small business.?
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Podcasts Throwback
In mid-2018, at the age of 45, I launched Boma Global, a revenue-generating venture through program fees, sponsorships, and event ticket sales.
It offers programs, sponsorships, and events on topics such as innovation, leadership, and sustainability.
It adapted to the pandemic by moving online and expanding its team and reach.
Listen to episode 89 I did with Kaila in March 2021.
Regards,
Troy Trewin | Founder
P.S. If you’re not sure how to work through your #1 growth challenge at the moment (people, marketing, strategy, systems or funding), book a Growth Chat with me. In 20 minutes, I will recommend some resources to help.