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?
No Right Answers; Just Right Questions
Let's say through your courting process and your smooth business presentations you manage to recruit an executive or two. You should know enough about them and how they work together and individually to answer the following questions. Document your answers to the following:
What are they going to be responsible for?
What are your underlining expectations toward productivity?
What are you going to settle for?
How will you measure their success?
How will you measure whether this is a right role for them?
How will you measure whether this is the right person for you business?
What type of business experience does each team member have?
What are they contributing to the business?
Is your team capable of growing the business? If so How?
What are the challenges your team is currently facing? How will you address them?
For each team member provide examples of strategic thinking in past situations?
Have your team members ever challenged, shaken old work methods? If so, How?
How does each one on your team make decisions?
How does your team reach decision when they don't have all the facts?
How does management solve problems?
How will the team coordinated the work to achieve targeted goals?
Provide example of adaptation to changes and the difficulties.
When did each individual last update business management education?
What are each individuals professional development needs?
How does your team handle a heavy workload?
How are tasks prioritized daily?
How does your team handle failures? Provide examples.
Knowing your business throughly is the key to expansion. Expansion eventually will not require your participation and you should not have to worry about your business. Now is the time to understand your small business and to get it right.
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