Take a step back to step forward
Is it really possible to achieve business growth on your terms? Can you be healthy, happy, do good and make money?
I’d argue that balance and fun are essential rather than desirable elements in the process but you may need a little help to make it happen.
If you’re stuck, it’s time to call in some expert help and here’s why.
In order to grow, we pause
What does growth mean to you? Before you can review where you are or plan a way forward, you need to think about what your reaction to this question is. We like to think that we make business decisions based on logic but is that the case? Are they based on feelings more than we’d like to admit?
Very often people come to me and ask for help to make more money but they come back and thank me later for helping them to experience less stress, more time and more fun. So on the road to achieving what we think we want, we may find what we need.
Deciding what your priorities are, what you’d like to achieve, what you have now and what you need to get to where you’re going starts with putting things in context. Purpose helps you to start it rolling and gives you the momentum to keep going.
Balance is also key. If you’re spending your time in your business rather than on your business, then you won’t be making time to invest in the future. You could even be struggling with things that you should find easy and enjoyable.
So we’re going to look at why purpose is so powerful in business growth and practical ways to achieve balance.
We’re also going to discuss the value of getting a little outside help.
Seeing the label from outside the jar
You can’t see the label from inside the jar, the saying goes. When you’re on the inside looking out, caught up in the everyday busyness of running a business, it can be impossible to see the transformative opportunities, efficiencies and mindset shifts open to you.
Periodical review is essential for any business but sometimes an independent collaborator can add the incendiary element needed to lift it to the next level.
Take time management, for example. If we’ve all been on the courses and read the books, why aren’t we all better at it? The answer is that sometimes we’re not aligned with what we’re trying to achieve and not enjoying what we’re doing.
This is when a professional outsider who cares about your outcomes can help you sift through to notice what’s relevant for you and pick up on the things that have lost their shine. Together you’ll develop and agree on a plan and then you’ll get the support you need to execute it.
Naturally, your personal desires, principles and commitments are as much a part of the process as your business goals because these are the root of your momentum. They’re also a vital point of alignment for the people who work with you and for you.
How full is your cup?
Imagine your business as a cup. One way to generate more revenue is to increase its size. This may involve more people or more machines to increase output or productivity, requiring investment from you or from outside sources.
Sometimes clearing away inefficiencies will free up capacity for growth. The cup is the same size, only now more of it is usable space. We can choose to shift our market position, review pricing, develop our offering, develop the market or establish new collaborations.
These rely on the principle of running everything as close to 100% capacity as possible but have you stopped to think about whether this is a good thing for long-term growth?
A controlled degree of latency is good. It allows contingency space and more importantly, it allows vital room for development and balance.
Levelling up
If you find yourself flying low in the weeds, it’s likely that you’re inadvertently caught up in the everyday pursuits that keep your business going. This can rob you of your joy (particularly if you find yourself regularly firefighting) and mean that you can’t see far enough ahead to enjoy the journey.
Or plan the next steps.
So ask yourself:
- What choices can I make?
- What choices would I like to make?
To take this further, when I develop a one-page personal or business plan with a client we look at their needs and desires around:
- Friends
- Family
- Faith
- Fitness
- Finance
- Fun
Does your business success really have to come at the expense of these? I would argue that these are essential for healthy, sustainable development. It’s entirely possible to make money and find balance.
Bringing everything together – with purpose
Whether we’re working on strategies, balance or priorities, everything is underpinned by purpose. Why? Because as we mentioned earlier, it gives you focus and ensures those working alongside you give their best too. You’re more likely to work with the right client base, access the resources you need and spot the opportunities.
It’s not just about resonance. When things get tough, it can be easy for despondency to set in. Keeping your why front and centre can be just the antidote you need to keep going.
A trusted coach will guide you through this process. It can take some time to distil your ideas but if making money while doing good is important to you, there is no reason why one should take priority over the other.
Don’t take my word for it. A study in the Harvard Business Review found that many of the high–growth companies they studied:
‘had moved purpose from the periphery of their strategy to its core — where, with committed leadership and financial investment, they had used it to generate sustained profitable growth, stay relevant in a rapidly changing world, and deepen ties with their stakeholders.’
It goes on to explain that working from purpose empowers a business to:
- Unify the organisation
- Motivate stakeholders
- Broaden impact
This is a powerful case for making sure you know what your purpose is and then putting it at the core of your strategy.
How does this show up in real life?
If you’re struggling but you have bright aspirations for your business, a good business coach will work with you to:
- Assess your abilities, skills and knowledge – where are the gaps, what resources do you need and what mindset shifts would have the most impact?
- Craft your purpose and culture – so that you find the people and resources you need to create outcomes that benefit everyone.
- Take stock of what you have in place – to sift through what’s valuable, what you can delegate and what you can let go of.
- Work towards where you want to go – by developing an actionable strategy, providing scaffolding if necessary and keeping you accountable.
This is about more than just taking a pause for thought. It is about digging deep, finding answers and then using them to forge a way forward. By doing this, you make your well-being a priority because that of your business depends on it.
Specialist help is at hand
If anything in this article resonates with you, then now’s the time to take the first steps to change. I’ve helped countless businesses and the people behind them to grow using my Scaling UP methodology, along with the spectrum of other tools from my toolkit.
The process starts with discovery – about where you are now and where you’d like to be, so call or send me an email and let’s get started today.