Rules Of The Road Can Keep Business Owners Ahead Of Growth Curves-www.haole55.com

Rules Of The Road Can Keep Business Owners Ahead Of Growth Curves-www.haole55.com

Most entrepreneurs rebel against following rules. It’s that go-for-broke attitude that has started many successful ventures and those ventures didn’t start out by observing rules. However, a thorough understanding of what stage of growth your company is in will provide a business owner with critical rules of the road that help business owners, with fewer than 500 employees, focus on critical aspects of their company. As the President of a $12 million company that grew beyond my expectations, I struggled to find ways to engage employees in understanding what was needed to manage that growth. And I struggled against the overwhelming feeling of frustration in trying to manage all the challenges being thrown our way every day. Once I began to understand the stages of growth and could articulate the rules of the road for our current stage of growth, those challenges became easier to manage. Why? Because I was talking a language each employee in my company could understand and I could carve out three or four areas of focus instead of 20 or 30. It was getting focused on the critical rules of the road for my company when the dot-com blowup of March 2000 took out 30% of my staff that saved us from the brink of bankruptcy. I’ve outlined two of the five critical rules of the road for each stage of growth. As you read them and identify your stage of growth, simply add these two critical areas to your current strategic plan and watch your focus get laser-sharp and your productivity rise. Stage 1: 1 to 10 employees — Generate, track and preserve cash — Focus 80% of your resources on selling the 2 to 3 offerings with the best margins Stage 2: 11 to 19 employees — Sell absolutely every day — Develop, without fail, three employees to be responsible, accountable and proactive Stage 3: 20 to 34 employees — Without fail, clarify and strengthen any and all communication with your employees — Delegate responsibility and authority to capable supervisors and meet with them regularly Stage 4: 35 to 57 employees — Hire and effectively train professional department managers who are responsible and accountable — Establish a strict company project management template One rule that you may not want to know about says: What you don’t get done in your current stage of growth will not just go away. The rules in each stage of growth need to be addressed and if they aren’t, you will face them again as you move to the next stage of growth. Stage 5: 58 to 95 employees — Integrate the management team into an inter-dependent, executive-focused leadership unit — Establish a fully integrated living budget by revenue group and by department Stage 6: 96 to 160 employees: — Without fail, establish a two to three day new staff orientation — Without fail, secure regular one-on-one supervisor/employee meetings Stage 7: 161 to 500 employees: — Overhaul the business model to optimize direction and margins — Set up an enterprise management/leadership succession system. Growing a business demands every minute of your energy, resources and brain power. The good news is you don’t have to reinvent the wheel. By understanding your stage of growth, by knowing what the rules of the road are for each stage of growth, you will have headlights to help you navigate the curves and get ahead of the obstacles. About the Author: Laurie Taylor is a business growth specialist. Laurie specializes in a unique growth model ‘The 7 Stages of Growth’ and helps business owners successfully navigate their own growth curve. Learn more about the 7 Stages of Growth at http://www.igniteyourbiz.com. Article Published On: http://www.articlesnatch.com – UnCategorized 相关的主题文章: