Introduction to the Series:
I have been thinking about you; your goals, ambitions, and challenges. I felt it was appropriate to provide several concepts related to expanding your business. I know that expansion is probably the furthest thing from your mind; it just seems to me that you have worked yourself into a corner. Expansion may be your way out of work and back into your life. I know this may seem paradoxical, but trust me.
At this point it's unfathomable for your business not to need you. You may even cringe at the thought of taking some time away from your organization; I'm sure the thoughts that follow are fairly disastrous. How would you ever stay afloat if you stopped working for a week, a month, and god forbid a year? What would your life be like if you could see life beyond your business?
One thing I have learned in my years of running multiple businesses is that we really have to find a way to let go of the concepts that may be holding us back, and at the very least challenge our assumptions.
Instead of your business needing you perhaps this is a case of you needing your business. Maybe you are in love with the meaning it contributes to your life, the financial rewards, the deep emotional satisfaction when things are going well, the feeling of triumph when you move forward in spite of challenging times. In any case I'm sure your life amounts to much more than running a profitable small business.
A Paradigm Shift
You are not meant to focus on your business in the way that you do. Your business is an instrument, not the destination. Please keep in mind that life is about fulfilling a purpose beyond fiduciary responsibilities. What is your purpose? Can you look beyond the obvious to see how your occupation can be used to elevate your life's meaning?
The Practice of Business Development
Before you begin recruiting executives for your small business expansion, you must be crystal clear about your organizational needs. For you to assume that the most important things in your business are identified by the pressures you feel, is an error in judgment. The very fact that you feel an inordinate amount of stress could mean that you are focusing in the wrong areas.
Think Twice
Instead of quickly turning to your experience, mentally dissect your business. Your goal in dissecting is to identify departmental roles, responsibilities, and objectives. By doing this you will soon understand what you are neglecting to do altogether. After you are finished with the description for each department ask yourself: are you ensuring that appropriate attention is given toward each responsibility? Write down what areas you need to improve on and the areas you are neglecting. The more honest you are with yourself the more insight you will gather in this process.
The Organization Of 'It' All
For all intents and purposes I listed a few segments below to get you started; these segments deserve your attention. If I have neglected something in your business please feel free to add it to the list. When you are finished you should have every detail of your business written down i.e. every process or protocol, departmental functions and objectives, areas that deserve more attention, and areas that you are neglecting altogether. You should end up with a business document that you can revisit, add to, and change over time as your business develops and grows.
Marketing
Market Research
Branding
Lead Generation
Sales/Account Management
Operations
Customer Service
Support
R&D
Quality Assurance
Finances
Accounts Receivable
Accounts Payable
MIS
Human Resources
Talent Acquisition
Benefits
Training and Development
Closing Thoughts
The reason for this type of thinking is for you to understand the health of your small business. If you have an unhealthy business and choose to expand it you will expand the disfunction of the business. If you invest in an unhealthy business; without prior knowledge on how to get it on track, you are simply making your challenges bigger and more expensive.
What is The Health of Your Business Costing You?
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