The dog-walking enterprise
My son and a few of his friends decided to start a dog-walking business together.
We live in a suburban residential area where most households have a dog, so the market was there.
Their approach to developing business was to go door to door and ask if people would like their dog walked. It was a successful strategy, four charming 9-year-old boys, who could say no?
They managed to build up clientele in the streets within proximity to home. They’d knock on the door of those houses that had agreed to pay to have their dogs walked, they’d take the dog on a leash through the local parks, and then return at the agreed time (ost of the time).
The business was going well, they were all making money, they were getting exercise, and spending time outside.
Until things started to wobble a little.
There were unanswered questions:
I called a meeting with them when I could see that money was changing behaviour. The lure of that next big (or small) purchase with the takings started to cloud people’s judgment. We put all of the money on my desk, divided it equally four ways, and talked about the importance of people being paid for the work they put in, and that this was a partnership.
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A few days later there were more cracks forming as the list of questions above started to get longer and longer.
The good news is that they are learning so much, I am trying desperately to not over involve myself in their enterprise and let them navigate this important experience.
I am proud of them, what they are going through is exactly what 99% of new businesses go through, and sadly many fail because of it. Some overcome a few of the hurdles, others will tackle all of them, but most never reach their potential because they don’t prioritise clarity of accountability.
Knowing who is accountable for what is the foundation for any and every business.
Every business has three major functions, Sales, Operations, and Finance. You cannot afford to be weak in any of these if you want to have sustained success, and being strong in any of these three functions begins with knowing who is accountable for them.
If we all slowed down a little, sought clarity on what the major functions of our business were, and then who was accountable for them, we’d all be better off.
Perhaps that is why this is the first step in implementing the Entrepreneurial Operating System.
Slow down to speed up.
Have fun.
Coach | Speaker | Facilitator | Mindset | Relationships | Leadership | Entrepreneurship
2 年“If we all slowed down a little, sought clarity on what the major functions of our business were, and then who was accountable for them, we’d all be better off.” - ?? agree ????
The Lamb's Book of Life
2 年Beautiful.
Passionate about accelerating SME commercial growth | Fractional CFO | EOS Integrator | Advisory Board & Director Services | LeanIn Mentoring Coach
2 年Love this story and how much our kids teach us daily! Future EOS implementors in the making.
Speaker | Coach | Consultant
2 年Fantastic story of the boys journey and how relatable to business at “any age”. At the core…we really are all just “big kids” and lots of lessons for us to learn until we die! Thanks for sharing Dan.