A previous post I shared was on what your marketing in the foundation stage needs to strategically focus on. With breakeven systematically achieved, it’s time to focus on profitability which is the goal of the self-sustainability stage of the growth cycle.
Marketing’s primary objective here will be to generate leads. Often this is a struggle for small business owners, but it doesn’t have to be.
Consistent profitability is the goal of the survival stage. So, your operational focus needs to be increasing efficiency and productivity.
If you can do what you do faster, you can improve cash flow which in turn helps profitability. But, that means you already know exactly what you are doing so you can refine and fine tune!
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. Here I want to focus on how you actually do it.
First, the process is pretty simple:
- Do It
- Document It
- Test It
- Train It
- Delegate It
Sounds simple enough, so why do so many business owners struggle with completing it?
I talk about a creating self-sustaining business all the time. In fact, it’s the core of the Business Growth Simplified business philosophy!
Assist small business owners in growing a self-sustaining business.
But, what does a self-sustaining business really look like? And, how do you know that you’ve created one?
The test to determine if you have a self-sustaining business is a pretty easy one.
A great family and friends, beautiful home, nice cars, regular vacations, all the material things you could ever want. Your life is a dream. Sound familiar or like what you want for your life?
I meet small business owners all the time that live this lifestyle. The problem frequently is they don’t realize how close their supposed dream is to a tragic nightmare because what they believe is business success is really only business survival!
The Employee Scenarios Defined
Several events recently occurred with client businesses that have made me take a step back and really try to understand why business owners make some of the decisions that they do! For nearly a year I have been advising one client to put better employee systems in place. Well, it’s finally hit the fan!