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small business

The pandemic, politics, and inflation put many small business owners on edge. The uncertainty was evident in many coaching conversations over the two years.

Regardless of the economy, the small business owner is left to deal with uncertainties of some kind. So we have to make it work for our company to survive.

When uncertainty looms, it’s natural to want to retract – to shrink back from previous, well-thought-out plans – to play it safe “just in case.” It’s part of the flight or fight paradox with which we’ve lived since the days of the caveman (and cavewoman).

The problem with choosing the “flight” path is that it causes us to miss out on opportunities within our grasp – if we would only look up from issues that have yet to occur.

small business

I explained it to a client in this way.

Scaling back and playing it safe is undoubtedly an option when faced with uncertainty. It’s like holding a small bucket close to our chest. Much like a kid with a particular toy s/he grips, we develop a protective posture over what we currently define as “certainty.”

We hold tight. We look down. We guard our territory – all in hopes of retaining this tiny bit of control.

The problem with this position is that with head down and field of vision limited, we fail to see the opportunities within our sphere of influence. As a result, the same occurrences that would fortify certainty are hidden from view.

Rather than respond to uncertainty by going small – Go Big – and remove any option of going back.

You Can’t Come Home

That’s what my mother-in-law told her son (my husband) when he signed on with the Marines. Knowing the rigors of the Marine Corp during the Vietnam War, she was not in favor of his enlistment.

Despite her objection, he signed up.

When boot camp proved to be too arduous, he made one call. He called his mom. He begged and pleaded to come home.

There was no convincing his mom to let him return home when times got tough. Raised in south Chicago, she knew that commitment and discipline were qualities that served a young black man well during the 60s.

Much to his surprise, she refused his request to come home. He had decided to join the Marines against her council, and he would have to stay and make it work. So he was not allowed to come home.

Decades later, he says it’s the best thing that ever happened (besides marrying me).

He learned about the strength within, the discipline needed to succeed, and the honor of commitment. He uncovered a man much stronger.

Don’t Go Back in Your Small Business

Don’t go home in the same spirit of uncertainty, struggle, and doubt. Don’t play small – not now! Not ever!

Discover the strength, wisdom, and fortitude within yourself – and capitalize on the opportunities around you as you hold your head high and keep your eyes on the prize.

small business opportunity

Didn’t we all think the pandemic would be in our rearview mirror by now? I sure did! In fact, in my 20+ years in business, I’ve never quite seen anything like the current situation, meaning the pandemic and its impact on all aspects of life.

Given the past two years of never-ending virtual meetings, non-existent in-person team collaboration, and ever-changing regulations, COVID has undoubtedly upped our resilience game. 

Many small businesses have thrived despite the relentless challenges and changes. But, unfortunately, others haven’t enjoyed the same experience. So what do you guess contributes to the difference? Did they find a four-leaf clover, rub a genie’s bottle, unearth a rabbit’s foot, or are they just plain lucky?

Roman philosopher Seneca said, “Luck is what happens when preparation meets opportunity.” And, despite it the results, sometimes we have to create a little luck. 

So, if you’re looking for a four-leaf clover in your business to lift your spirits and relieve some of the COVID pressure, here are a few considerations for prompting opportunities in your small business:

  1. Launch a new program. Nothing infuses energy and opportunity into a business more than a new program or service. Can’t think of a new idea? Find a new way to repackage your expertise.
  2. Develop an inbound marketing model. Inbound marketing, coined by Hubspot, Dharmesh Shah, and Brain Halligan, is perfect for small business owners short on time but long on expertise (especially when in-person relationship development opportunities are limited.) 
  3. Have coffee with your clients, virtually, of course. You’ll learn volumes about how to create opportunities for your business by jawboning with your clients. Plus, it shows your clients you care all the time — not just when you need to make a sale.
  4. Guest blog on sites where your ideal client is known to frequent. Regular guest blogging is an excellent way for others to know you exist. Find curated and membership sites where your ideal client hangs out and become a contributing editor.
  5. Understand the buyer’s journey. Not everyone who visits your website or likes your Facebook page is ready to hand over their credit card. Many want to date for a while to get to know you better. Take them gently through the Nine Steps to Building Trust Online & Offline for Your Small Business. And, can’t we all agree? The buyer’s journey of 2022 is not the same as it was in 2020. 
  6. Adopt a giver’s mindset. I’m not talking about giving away all of your expertise for free. After all, you’re in business for profit. It’s an attitude of what you can do for this person rather than what they can do for you. That’s my favorite part of capitalism — being a giver rather than a taker. 
  7. Learn 21st-century consultative selling. Put away the double-knit plaid pants and loud, abrasive sales scripts. In the 21st century, selling is uncovering the needs of others and satisfying them. And boy, if there was ever a time that conditions for businesses have changed, it’s now. 
  8. Keep in touch with your network. Don’t just stop by your social media platforms when you have something to sell; stop by and say “hi.” Turn your favorite social platform into “Cheers” – where everyone knows your name.
  9. Fill your sales pipeline. Put enough effort into lead generation to satiate your sales pipeline. And, don’t stop just short of “full.”
  10. Apply the 80/20 rule. Spend 80% of your time focusing on sales, marketing, and networking activities each day. Try this for two weeks. You’ll amaze yourself with the number of opportunities you’ll enjoy.
  11. Revise your business model. How does the saying go, “It’s Not Your Dad’s Cadillac.” Not that you’re a 120-year old car; however, what worked well pre-2020 may no longer be relevant in the pandemic world. 
  12. Change your business strategy. In fact, why not run your current strategy through its paces by asking the 8 Questions to Scrutinize Your Business Strategy (Like a Boss)

I’ll admit — that even these considerations can be daunting and ineffective in giving your business the infusion for growth it needs. Why? Because “it depends.” Success in uncertain times is dependent on many factors — many of which may feel out of our control. 

No matter what, opportunity, like luck, isn’t what happens to you; it’s what you do that creates opportunities. So, what sort of opportunity are you making today?

Opportunity, like luck, isn’t what happens to you; it’s what you do that creates opportunities. So, what sort of opportunity are you making today?

Ahhh, yes! It’s the time of the year we gather around the holiday table (aka Zoom) with the significant people in our lives…and plan for the year ahead. (Oh, how I wish that were so.)

Unfortunately, most business owners spend more time planning Thanksgiving dinner than they do planning for business growth. And, when resources are limited, planning is even more critical.

David vs. Goliath Planning

year end assessment There’s more than size that separates small businesses from large. The most noticeable difference is how each responds to pressure, stress, overwhelm, and uncertainty.

While corporations spend more time planning when things go sideways, small business owners spend their time putting out fires and dealing with day-to-day operations.

Granted, you have to weigh the importance of assessing, planning, and setting a direction for business growth versus being on the streets doing your thing. However, the real value of proper planning is the time saved by focused efforts and avoiding costly decisions.

A Year End Assessment is Not Rocket Science

A formalized strategic planning mechanism that is held annually is a nice idea. The truth is most of us small business owners aren’t likely to create — or engage — in such a formalized process. In fact, the failure of most small businesses to engage in any sort of structured planning is noted as one of the primary causes of the high failure rate. That’s just plain ugly — especially when it’s avoidable.

Regardless, we don’t need an MBA or special superpowers to accurately analyze and plan for the year ahead. We just need to schedule some time and take inventory of what’s truly going on in our business.

Planning means preparing for future success.

Business Growth Begins With an  Assessment

One of the most valuable tools to identify growth opportunities is the year-end business assessment. It gives you the critical feedback and insight you need for proper planning.

Objectivity accelerates your odds for a successful year ahead.

Don’t Let Business Consume You

It’s easy to get devoured by the day-to-day hustle of a small business. We become engrossed in catching up and keeping up. Before long, we’ve squandered priceless resources and exhausted opportunities — all because we’re too absorbed in business operations — and drained by it all.

Once you’ve completed your year-end assessment, make plans to…

  1. Run your business profitably by putting a halt to underpricing—and underearning.
  2. Take better care of yourself by locking in boundaries, especially related to time.
  3. Work each day with a clear intention culminating from clearly defined goals.
  4. Make better choices by escaping over-commitment.
  5. Target double-digit business growth by delegating and outsourcing.
  6. Maintain better work-life balance through the use of technology.

The Census Bureau counted 40,000 firms with $1 million in revenue for 2017. Granted, that was 2017. Needless to say, they are a bit sluggish when gathering data. However,  even if $1 million in revenue is not your goal, there’s tremendous benefit in setting a strategic direction for your business.

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Want a year end assessment to spark your motivation? Join our entrepreneurial cohort at Eureka (It’s still free to join.) and download Think Clearly. Act Boldly. Head in the Right Direction. 

strategic thinking

Strategic thinking, the thinking process used by the most intentional and successful of Stage II enterprise entrepreneurs is getting a bad rap!  And,  who’s paying the price for it?

You are! The small business owner!

Apparently someone (insert air quotes here) is attempting to sell snake oil on how to think about thinking strategically. After a while, it gums up our business growth. 

 

strategic thinking

 

Myth #1: Strategic Thinking is Only for Big Business

Actually, strategic thinking is for any business looking to take a long-range view of their business and the environment in which it operates. It’s what’s required to make the most of any changes on the horizon.

Applied successfully, strategic thinking helps you better leverage your precious resources of time, talent, and money. With better use of resources comes accelerated forward movement.

Myth #2: Only Certain People are Qualified for Strategic Thinking

The numbers are in — and they aren’t pretty! Chief Executive Magazine reported that only 3 out of every 10 business leaders know how to think strategically.

Don’t let this statistic reinforce the myth. Actually, it points out that few people have been taught this critical business skill. If you’re willing to learn,  you can become a strategic thinker for your business.

Myth #3: I Don’t Have Time to Think Strategically

This is quite prevalent, especially for small businesses. I understand first-hand how difficult it is to pull our heads out of the day-to-day operations, especially once the flurry of our inbox is unleashed.

My dad taught me that if you don’t take the time to do something right the first time, how much time do you have to do it over. That’s a valuable lesson to learn.

High-level thinking encourages the proactive monitoring of your business so you’re not caught off guard by some unnoticed event or trend. Strategic thinking saves you time and money. In the end, it’s what takes the business to the next level. 

Myth #4: Strategic Thinking is a Waste of Time

This myth is particularly poignant for many business owners who escaped the bureaucracy of a corporation in search of their own business.

Having spent hour, upon grueling hour, tied up with multiple people who talked ad infinitum only to use the strategic plan as a doorstop, it’s natural to think it’s a waste of time.

Truthfully, strategic thinking is fast, easy, and very effective when done consistently and correctly. (Be sure to ask us how!)

Myth #5: I Think Strategically All Day

Is it strategic in nature? Does it take your goals into consideration? Is it based on data? Are actionable, corrective actions included in your thinking?

You may be thinking all day but you’re not thinking strategically. In fact, most entrepreneurs spend their day thinking tactically. In reality, you’re thinking about how everything will get done.

Strategic thinking, at the start of your week and/or day, means less thinking (i.e., worrying) about how to get it all done. Strategic thinking clears out the clutter lurking in your mind. It keeps you focused and on track with the activities most meaningful to achieving your dreams.

Do any of these myths sound familiar? If so, rethink your approach to the kind of thinking that ultimately impacts your business.

Strategic thinking is the quickest, most predictable, time-effective skill to achieving business success.

 

Wow! I did not see this coming…

business growth invisible

There’s an “invisible gorilla” in my business? (It does, however, explain who’s been raiding the snack drawer late at night.)

And it’s having its way with my business growth!

An an entrepreneur, my business depends on attention. In fact, I pride myself in staying focused on strategies to grow my business. The notion of not being alert to a “stocky animal with broad chest and shoulders, large, human-like hands, and small eyes set into a hairless face” is horrifying.

Admitedly I’m less than perfect in pursuit of the attention objective. Like you, my attention is divided between client requests, meetings on zoom, acquiring talent,  moving projects forward, juggling cash flow…

Growing a business today isn’t easy — despite what we often read online. Moving a business forward strategically and systematically is not for the faint of heart.

The fact that an “invisible gorilla” roams aimlessly around the office is unconscionable!

.   .   .  

TLDR:

  • The business owner’s inability to pull themselves out of day-to-day operations overshadows key elements of business growth.
  • “Inattention blindness” ultimately slows or stalls business growth that prompts owner burnout, overwhelm, and despair.
  • Join an entrepreneur cohort, engage a strategic business coach, or learn to retrain your brain to break out of your concealed silo existence.

.   .   .   

Sight Unseen: It’s Monkey Business

But what about the gorilla? In the book, The Invisible Gorilla: And Other Ways Our Intuitions Deceive Us, professors Christopher Chabris and Daniel Simons explore the inner workings of our minds. As a result, they uncover how we miss things right in front of us.

Their groundbreaking experiment, known as “The Monkey Business Illusion,” reveals a great deal about our focus, attention, and perceptions — key elements that elevate a business to the next level or keep it plateaued.

Watch “The Monkey Business Illusion” video.  And, experience for yourself how critical pieces of information can be, shall we say, “invisible”.

The Invisible Impact on Business Growth

As Simons points out in the video, “When you’re looking for a gorilla, you often miss other unexpected events.” So it is with business.

When we are so intensely focused on a particular aspect of the business, such as juggling cash flow or delivering value to clients, we often miss the most impactful aspects of business growth. Yet, they are right in front of us.

This is called “inattentional blindness.” “Inattentional blindness” refers to devoting one’s attention to a particular activity and unintentionally missing other critical information.

When Chabris and Simons speak of “inattentional blindness,” they might as well be speaking about our experience as an entrepreneur.

What does it mean to miss cricital pieces of information to grow your business? Here are a few “inattentional blindness” fallouts:

  • loss of relevance and market competitiveness
  • high client turnover
  • slimming profit margins
  • cash flow on life support
  • talent not growing with the organization
  • sluggish or stagnant growth
  • owner burnout and despair

Retrain Your Brain to See the Invisible

Whether your attention is focused on a single aspect of your business or diverted to a multitude of activities, objectivity allows us to identify the opportunities and obstacles we’re missing. For instance, to avoid missing critical information, here are a few solutions to consider:

  1. Join a Mastermind Group of like-minded business owners. Others often see what we are missing. As a result, the insight is priceless for discovering and implementing the right solution.
  2. Engage a strategic business coach. A trained strategic business coach is well-equipped to see the “invisible gorilla” in your business.
  3. Train your mind to think differently.  See the “gorilla” for yourself to recognize the opportunities and strategies to grow your business. In fact, consider reading Think Again: The Power of Knowing What You Don’t Know by Adam Grant. It’s eyeopening! ?

Look around. As a result of this new information, are you seeing any “invisible gorillas” in the midst of your business?

business growth

When asked about business growth goals, many entrepreneurs caught in the messy middle respond with vague statements like “do better than last year” or “double what we did last year.”

These off-the-cuff answers don’t stem from a lack of ambition; They expose a lack of strategic thinking necessary for establishing clear goals, which are essential for guiding decision-making and ensuring long-term success.

For most small business owners, achieving growth often feels like a mystery surrounded by uncertainty and challenges. This ambiguity happens when we’re caught up in day-to-day operations, constantly addressing urgent issues instead of focusing on long-term strategies that drive growth and sustainability.

business growth

Business Growth: Not as Easy as it Seems

During the economic downturn of 2008, entrepreneurs faced the harsh realities of an economic retreat. Revenues dipped, budgets were slashed, and talent was reduced just to stay afloat.

My father, a product of The Great Depression, would always say, “We need to tighten our belts.” And tighten our belts, we did. Despite these efforts, many businesses couldn’t survive. The failure rate for small businesses hit 4%, and an additional 12% shuttered in 2009.

Still, some companies managed to sustain a 20% growth rate and weather the storm.

Fast forward to 2020, and we faced another economic upheaval due to COVID-19. By April 2020, 22% of small businesses had vanished despite PPP support—that’s 3.3 million businesses gone. One year later, nearly 37% of small business owners anticipated that returning to normal operations would take longer than six months, with talent acquisition being their primary concern.

Despite the uncertainty of the past 15+ years, optimism remains high among small business entrepreneurs. That’s encouraging news!

Business Growth: How Fast is Too Fast?

While pursuing my MDE (Management Development of Entrepreneurship) at UCLA Anderson School of Business, I had the privilege of studying under Professors Yvonne Randle and Eric Flamholtz. They created a framework to prepare entrepreneurs for business growth.

Based on their extensive work, they identified five rates of growth for small business firms (from “Growing Pains…Transitioning from an Entrepreneurship to a Professionally Managed Firm” by Eric Flamholtz & Yvonne Randle):

1. Less than 15% annually — Sustainable Growth

While this rate might seem modest, it allows a business to double in size over five years. Not too bad! For many small business entrepreneurs, doubling in five years would be a welcome change from “a different year, the same revenue” situation.

2. 15 – 25% annually — Rapid Growth

Rapid growth is exhilarating but it can also be exhausting. Business owners at this rate of growth often find themselves stretched thin, juggling time, talent, and finances. This accelerated growth often requires an infusion of capital. Although the idea of a capital infusion can be daunting it’s often necessary for breaking through to the next level. Being strategic helps you manage the risks — and reduces your stress.

3. 25 – 50% annually — Very Rapid Growth

With very rapid growth, we see a significant increase in performance or market expansion each year. This often indicates a company or sector that is scaling quickly and capturing market share quickly. This rapid expansion highlights the company’s ability to adapt to changing market conditions and it also underscores the potential for long-term sustainability.

4. 50 – 100% annually — Hypergrowth

Companies experiencing hypergrowth are scaling at an exceptional pace, often outpacing competitors by rapidly expanding their operations and customer base. These companies typically leverage innovative strategies, advanced technologies, and agile practices to sustain their accelerated growth.

5. Greater than 100% annually — Light-Speed Growth

This level of growth signifies that a company is more than doubling its size every year. Such accelerated expansion often indicates a strong market demand, innovative strategies, and dynamic leadership driving the business forward.

Your Goal for Business Growth

Rapid growth is enticing. It offers the promise of increased revenue and market presence, and it can also bring significant challenges.

A business that expands too quickly may outpace its existing infrastructure, leading to operational inefficiencies and logistical bottlenecks. This results in your business struggling to manage its newfound success, potentially choking on the very growth that seemed so promising.

Final thought…

Being strategic aids in managing risks. By strategically planning for the year ahead, you can navigate the year more effectively and focus more precisely on your goals. You’ll maintain a sense of control, ultimately leading to a more balanced and less stressful growth experience.

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At Synnovatia, we specialize in helping small business owners caught in The Messy Middle unlock their growth potential. If you’re ready to pave your path to strategic business growth, reach out to us, and let’s make your growth goals a reality.


Entrepreneurs strategy for slow growth

You’re an entrepreneur. You made it through the core startup phase of your business growth. You’ve refined your buyer and honed your offerings. Your marketing funnel is consistently generating client leads. And, you’ve built a strong reputation in your industry. Well done! 

The good news? You no longer worry about survival. 

And yet…

You’re overwhelmed. Burned out. Exhausted. 

You work long, endless hours. Each day is utter chaos only to wake and do it again the next day. 

With no end in sight, you wonder how much longer you can work at this fevered pace. 

The worst part? Despite your continued effort of hard work and long hours, your business growth has slowed or stalled. Egads! 

Entrepreneur strategy for slow growth
Photo by Luke Chesser on Unsplash

You’ve hit a plateau — a ceiling — that seems impenetrable regardless of the successful implementation of effective strategies. 

What started out as an exciting journey for you as an entrepreneur has turned into a bit of a nightmare. You feel trapped. You’re falling out of love with your business but can’t quit!

You’ve invested too much.

You no longer own your business – your business owns you.

Welcome to the Stage II Enterprise! 

Stage II Enterprise: By The Numbers

Imagine that. There’s actually a name for the current state of your business existence

As a Stage II Enterprise, you’ve moved beyond startup. During the three to five-year period of business ownership, you’ve proven your business model and achieved some level of sustainability. (Insert sigh of relief here.) 

Annual revenue is between $350,000 – $1 Million. And, although you “enjoy” some fluid cash flow, revenue is stalled. Your response? Tighten down the hatches and work harder!

You manage a team of 5–15 hybrid employees and freelancers, which allows you to expand and contract as dictated by cash flow and opportunities. 

Sadly, your talent pool is a bit stagnant with unqualified hires stemming from the earlier, inexperienced days of business ownership. 

Employees haven’t grown with the organization and because pay may not be aligned with the labor market, you’re hesitant to ask them to step up their game.

Plus, as the former “lone ranger,” you are accustomed to “doing it all” yourself. You either don’t know how or are uncomfortable delegating to the staff. Staff is underutilized.

Your ability to survive missteps, misjudgments, and bad decisions is real. With little to no time focused on forwarding movement and strategies needed to grow the business, the ability to remain relevant is challenged.

And yet…

You know what it takes to run a business and have the aptitude and appetite to continue growing.

Stage II Enterprise: The Information Gap of the Entrepreneur

As a Stage II Enterprise, the marketplace does not serve you well — if at all. Few sources exist to provide you with the proven strategies that work.

A colossal information gap exists between startup, stage one business growth and development, YOU, and the corporate behemoths; information vital for solving the problems of your enterprise.

What you long for — and need — are effective strategies to accelerate the process of stopping the stall and getting to the next level.

Stage II Enterprise: Bridging the Information Gap

To turn a stall into success requires navigating complex challenges, especially in times like this. It’s a strategic balancing act to test the boundaries of what is possible, understand the limits of your business, and maximize its potential. 

Although your chosen strategy is business dependent, there are several problems to solve, such as: 

  • Inability to focus.
  • Sense of overload, overwhelm and overburden by the current business environment.  
  • Limited access to resources needed to succeed like money and talent. 
  • Poor deployment of resources such as staff, time, and money.
  • Cloudy thinking accompanied by poor decision-making. 
  • Lack of a clear direction, plan, or focused execution. 
  • Missing knowledge or skill.  Not knowing what you don’t know. 

Despite the challenges faced, you want to put your talents to use, grow your business, and make smart decisions. Good for you! 

The question remains — where do you start? Don’t worry. We’ve got your back!

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Connect with Community. Contribute to the Conversation. 

Visit our community platform to connect, commiserate, collaborate, and collude with like-minded Stage II Enterprise entrepreneurs on what it takes to rise above your growing pains.

self care

We live in a world of extremes. We have extreme skiing, extreme skydiving, and extreme snowboarding. And, for small business owners looking to accelerate growth, a new strategy exists — extreme self-care.

Airlines tell us to put on our own oxygen mask, even before we do so for our children. Their instructions are purposeful. They understand that you won’t be of benefit to others if you don’t take care of yourself first.

The truth is that you’re not good to anyone when we’re not the best to ourselves. Like taking an extended road-trip with regular gas in a car that requires super unleaded, minimize the need for extreme self-care and you’re just not that effective or efficient.

self care You’re Number One

The art of taking care of oneself means being responsible for getting our needs met. It means applying the 51% principle, a notion launched by Connie and William Lantz. To hold another person accountable for your own care is unfair and selfish. Self-care is an insider’s job.

Extreme is defined as “way out there,” out of the ordinary, beyond what is normal. Hence, extreme self-care is defined as going beyond the ordinary to take care of yourself to get your needs met.

Significance of Extreme Self-Care on Business Growth

Extreme self-care influences the quality of our performance. And, when practiced daily, it enables you to give from your joy rather than from obligation and duty.

It infuses you with energy. You are more creative and productive. Your senses sharpen. You open up to new insights and awareness that lead your small business into exciting horizons previously undetected.

Your performance — and the results you achieve — is quite extraordinary.

YOU are the most important person there is and without YOU, nothing else will be able to exist. So, if you really truly are intent on growing your business, this is a to-be-included small business growth strategy.

There are many reasons – valid and invalid – for caution that many of us as small business owners experience. Granted, a measured amount of caution is useful. It triggers due diligence to better manage risk and make better decisions. An overabundance of caution, on the other hand, is liable to choke your business growth

Cautiousness in business is like bubble wrap. It’s cushioning material provides a protective layer. Although protective of harsh blows, it also creates delays, prompts missed opportunities, causes us to misjudge or misinterpret events, and changes our course of action that ultimately sabotages our business growth.

During my tenure as a business coach, I’ve seen many reasons for excessive cautiousness in small business owners, including:

  • failure taken out of context
  • lack of belief in oneself
  • unproven business model that is unstable and produces lackluster results
  • missing information
  • under-developed business skills
  • etc etc etc

Regardless of the cause, however, being overly cautiousness is NOT a recommended strategy for growth. In order to achieve your goals to grow your business at the rate and pace you desire – and need – for joy, fulfillment, freedom, and flexibility you seek, you have to “pop” your way through the layers of protective cautiousness.

That’s where business coaching comes in.

No longer a new and shiny object, business coaching is being recognized by more small business owners as a tool that ensures a clear mind and the necessary focus to stay on the course to upward trending growth. In essence, business coaching done right removes the protective layer of cautiousness that previously kept you stuck. It puts you on a path to accelerate your business growth.

1. Business coaching creates forward movement. With caution comes a blurred vision. Unable to see a clear way forward, valuable resources get squandered as you head in multiple directions – often simultaneously. You can’t veer off track with business coaching. Business coaching ensures your vision is crystal clear and smart strategies are implemented that are aligned with your vision to help you stay the course.

2. Business coaching prevents unrelenting cautiousness from becoming a habit. As with anything, the more we do it, the stronger it becomes. Cautiousness is one habit you don’t want to strengthen. Business coaching interrupts the vicious cycle of cautiousness (and that sense of powerlessness) by providing you with the tools, techniques, information, and skills you need to move confidently in the direction of your dreams.  

3. Business coaching opens up unidentified opportunities. It’s challenging to grow a business alone in this fast-paced, every-changing business environment. The isolation of trying to take your business to the next level is deafening – especially when it comes to innovation. Possibilities are easily overlooked. Business coaching keeps you up-to-date with industry and consumer trends and makes it easier to keep your finger on the pulse of what is happening in the world to direct your business growth. 

4. Business coaching sheds light on your numbers. If you don’t know it, you can’t grow it. Business metrics provide key performance information. Business coaching lends a hand in identifying the right stats to track. Business coaching also helps you understand key metrics that guide your business decisions and keep your business on the right track. You’ll be so impressed with yourself as you uncover the impact of data-driven decisions.

5. Business coaching helps identify the right kind and amount of resources. Selecting vendors to assist with growth initiatives can be a daunting process. One bad choice can be a costly decision for many small business owners. With business coaching, you become a smart consumer of services. You learn the questions to make sure a vendor can deliver on their promises and identify resources that are the best fit for your business. 

Ahhhh! Don’t you feel better already? Who doesn’t love the stress-relieving bubble popping of bubble wrap!? It’s irresistible. And, once you start, it’s nearly impossible to stop. Business coaching is just like bubble popping. It relieves stress, injects massive calm into your day, provides the tools needed to succeed, and keeps you moving in the direction of your dreams. 

Nothing is more frustrating than working ’round the clock and not generating an output equal to the input in your business. Granted, it’s common to invest on the front end of your business but, eventually, you want a return. You want to see the business grow.

Despite one’s best efforts to grow the business, some small business owners experience stunted or sluggish growth. Here are some of the most common reasons for slow to no growth.

1. No growth goal. Did you know research shows the only statistically significant predictor of business growth is not the industry, size of business, or length of time in business? It is the entrepreneur’s goal for growth. Who knew?!

That’s a significant statistics that begs the question – what’s your growth goal?

2. Missing business strategy. An absent business strategy generally results in a “fire, ready, aim” approach; one in which you start firing in hopes that — somehow — the business manages to accomplish its goal. Yikes! Your approach to how you’ll grow your business is as important as your goal for growth.

Plus, a well-defined business strategy helps identify opportunities that are ripe for you and your business.

3. Growing alone. Nothing grows in a vacuum. Little to no strategic interaction with like-minded entrepreneurs stifles growth in a variety of ways, including loss of creativity, blind spots, and diluted self-confidence. With limited interaction with others, small business growth begins to suffer in a multitude of ways, including loss of creativity, blind spots, and weakening self-confidence.

There’s tremendous value in making better decisions regarding business growth as a member of  communities for emerging and growing entrepreneurs

4. Ignore advice. Most business owners are protective of how they choose to run their business. However, when sought-out advice is ignored, it merely keeps you stuck.

The best advice you never want to ignore  — identify your business strategy.

5. Maintain what or how you’re doing it. This is what is referred to as insanity — doing the same thing over and over again and expecting different results. A course-correction in growth occurs when you alter what you’re doing or how you’re doing it.

One change that makes the difference between success and struggle is to stop doing and start achieving. 

6. Pinching pennies. Every entrepreneur understands “bootstrapping”. Nonetheless, don’t let excessive frugality cause you to hire cheap, inexperienced vendors or to cut corners. Both come with a larger price tag than you realize.

Nail down a profitable pricing strategy to avoid cutting corners that impede your growth.

7. Doing it all yourself. Although doing it all yourself commonly occurs in the start-up phase of your business, it’s not designed to be a long-term strategy. Eventually, it bottlenecks your ability to grow.

As you add contributing members to your team, be sure they are pluses (not minuses) in your business.

Are you ready for the good news? These are easy to correct…and we’re here to help.

Core Business Assessment

Testimonial

Brooke Billingsley

Vice President
Perception Strategies

Synnovatia is a strategic coaching firm that is detailed and knowledgeable about business. i have a small business that grew from $150K to $750K because of the goal setting and resources that Synnovatia provided. It saves me years of learning on my own.

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