Milk or Wine?

Dear Business Owner,

How are you doing?

I’m sure you’re wondering what kind of question I’m asking you this morning.

Well before we get to that, how was your week?

My week was full of a lot of different moving parts but I’m very thankful for progress through it all.

February is here – love month, right?

Valentine's is just around the corner, and it got me thinking not just about matters of the heart but about the heartbeat of your business.

This led me to today's conversation:

Picture this:

"Milk sours with time, but wine just gets better."

This got me pondering, and I thought, why not share this thought with you as we kick off the week?

So, here's a question for your Monday morning reflection: Are you building a Milk-based (quick gulp) business or a Wine (ages like a fine piece of art) business?

Let’s do a little 'taste' test:

Milk-Based (Short-Term / Shallow):

1. No clear business structures/processes: It's like attempting to bake without a recipe – a recipe for confusion (when you're not a baker).
2. No clear growth plan/succession: Imagine a long trip without Google Maps – the chances of getting lost are pretty high!
3. Unintentional recruitment/staffing: Building your team is one of the most crucial aspects of your business, get it wrong you're in for some challenges.
4. Poor client management system (Poor customer service): Treating clients poorly, without regard will mean no or low return clients and referrals
5. No proper financial planning for the business: Navigating your business finances without a plan is like driving through a very cloudy morning – unclear and risky.

Wine (Visionary / Long-serving):

1. Built to last (Corporate Governance): Your business is a well-built structure, resilient and enduring.
2. Planning to execute: Each business move is a deliberate note, not a random beat – more symphony, less chaos.
3. Very clear client management and support system: Your clients aren't just customers; they're a carefully composed melody – intentional and harmonious.
4. Financial plans and investment for the business: Your finances age like a fine wine, growing richer with time – a strategic investment, not a gamble.
5. Clear succession / Growth plan: Your business growth plan is a roadmap to the future, not a dead-end street – filled with exciting stops and opportunities.

Now, where do you find yourself on this business tasting menu?

Maybe you're somewhere in between or feeling ready to transition from Milk to Wine. Great, especially if you're going to take small, consistent steps.

Here are a few things to do this week to get you started:

• Start documenting the processes: Think of it as writing down the recipe for your secret sauce.
• Conduct a staff audit and project your team's growth: Evaluate your current team and start documenting what growth. will look like.
• Document your finances - income and expenditure: Print out your bank statements, align your invoices and expenditures - and be clear on where your business stands.

Remember, this is your legacy, and you don't have to do it alone – we can make it great together.

Here's to crafting a business that ages like a fine wine, getting better with every note.

Have a great week ahead!

- Nkechi