Growing Your Business?

How many times have we talked within our companies about growing our business … Revenue, Profit, and/or Market Share?  But do we actively pursue these goals?  With a strong plan?  That the entire team embraces?

I know, lots of question but what are the answers?

In my career with Large Multi-National Companies through Family-Owned Businesses, I have found THE PLAN frequently is not fully embraced … or missing.  The desire to grow is there, but they just don’t know how or are unwilling to invest the effort.  So, let’s look at the “W”s!!

WHY? … To Survive

Are you truly planning for the future?  Are you addressing Threats & Opportunities?  Are you meeting your stakeholder’s needs?  If you are not moving forward, you can bet your competition is.  Are you competing in a growing market?  Is your share of that market growing?

The number one goal of every company is survival!!  Are you ensuring that future survival through increasing your customer base, increasing your market presence, increasing your profitability?

WHAT?... Have a Plan

If you do not know where you are going, any road will take you there.

Having a plan keeps you focused.  Having a plan helps you know when you are on- … or off-track.  Processes must be documented, followed, and continuously improved.

WHO?… Everybody

Our plan needs to address all people aspects of our business …. Internal & external …. Customers and Suppliers … Sales & Operations … Leadership & Employees!!  You accomplish what you accomplish through and with other people. You need them on board.  They need a vision.  Then need to see the path to be taken … and their role.  They need to work as a cohesive team.

THE JOB of EVERY CEO is to DEVELOP the VISION and BUILD the TEAM to get your there!!  You need to focus on that every day.  

WHERE?... Through All Areas of Your Company & Other Stakeholders

Our plan needs to address all areas of our business, internal & external.  At Boeing when we developed the 777 (and all future models) we brought together our employees, our customers, and our suppliers to determine the best possible option for all stakeholders.  What were our capabilities and capacities?  Where could suppliers help?  What were our customers’ need?  

This is not a top-down decree. It is not optimizing Silos. It is a culture change that has everyone marching arm-in-arm towards the same goals

WHEN?... Now

There is a question about when is the best time to plant a tree.  The answer … yesterday.  Same with developing and implementing our plan!!  If you did not start yesterday, they start today!!

Is it best to do this when our company is slow and not meeting any goals … or … Is it best to do this when things are booming?  The answer is YES. 

HOW… Follow Your Plan

In The Art of War, Sun Tzu said to know the outcome of any battle we need to know ourselves, the enemy, the terrain of the battlefield, and the weather the day of the battle. Is it not the same in our businesses? Do we truly know our capabilities, capacity, and limitations?  Do we know our competition and their products?  Do we know the Market where we do business?  And … Do we know the economic climate?  

You may know your business better than anyone else, but sometimes it is difficult to see the forest for the trees … and to address all the above points  Sometimes it makes good business sense to bring in help, whether that be an internal person who can step up and lead the charge or someone from outside your company who has the experience and expertise to guide you to your goals. 

So, in conclusion, now is the time, everyone needs to be involved, and we need the metrics to ensure we are on track.  

And remember …. Facts And Data Set You Free