Build Your Growth for Business Self-Sustainability
Business self-sustainability should be the goals of every business whatever your stage of growth. Growth without a purpose is a road that leads to nowhere. Business self-sustainability provides:
- Freedom from being tied to your business day-to-day.
- Financial independence by providing you with a passive income.
- Increases your business’ value by accelerating revenue, decreasing costs and risk, and increasing profitability.
- Assures your business is always ready for sale, as the market will dictate when it’s time to sell your business not you!
This blog is covers the topics which influence business growth and business self-sustainability a major way. Some of these topics you may familiar other, but you will see them from a very different perspective.
Others topics you may not have ever heard of before. We ask you to ask the question of why others that may be advising you have not told you about these things. It’s probably because they don’t understand the importance of these items to a business growth, or don’t have a necessary knowledge of how to build business self-sustainability.
Take a moment to browse some of the articles and let us know what you think. We’re sure that you will find something new that will challenge you to think about your business differently!
There is a lot here. If you’re not sure where to start might we suggest that you begin in the area which best represents you and your business’ current position on the growth cycle. Or, if take a look at our frequently asked questions. This may spark a direction that will lead you toward you original goal of independence and financial freedom which was your reason for taking the leap of faith when you started your business or as you begin the journey. We would be honored to join you along the way!
Just testing this for now!!!
This week we’ll look at the rapid growth stage of the small business growth cycle. I haven’t spent much time on this stage of the growth cycle because it represents the opposite of what most small businesses want in their professional life – big corporate structure.
Often the terms succession planning and exit planning get used interchangeably. However, there is a definitive difference between the two. It’s important as a business owner that you understand the difference.
Website or Blog?
We are often asked this question.
Right behind it is frequently, “What about Facebook for business?” “How can I use Twitter to help my business?” or “Is online video right for my business?” These are important questions for today’s increasingly socialized business climate.
Poor cash flow is a critical concept that many entrepreneurs don’t fully understand. I believe this is because they usually hear about it from accountants that try to explain it in accounting terms.
With the passing of Stephen Covey, of 7 Habits of Effective People fame, I have been in deep thought about the impact self-improvement has on leadership and business growth.
In a previous post titled Getting Beyond the “Survival Stage” of Growth in Your Business, I touched on the process by which you begin building systems which your business can operate on its own.