Yes, that does not seem like proper grammar, but it is intentional. Unless you are completely satisfied with your company and don’t care if it slowly decays and goes out of business, you should be constantly making improvements. You should be REVing it Up in terms of Revenue, Earnings, and Value. You need to do it while your BIG is in play. That is, your Business Is Growing. Not just in revenue like high-tech startups that don’t show profits for years or decades. Or those same companies that achieve unicorn status and stratospheric valuations without the earnings to back the valuation up.
Your business needs predictable profits and cash flow, predictable and growing revenue to achieve a transferable valuation for whenever you exit from your business in any of several ways. What you did and what you needed when you were a solo entrepreneur or a small group of under 10 was one thing. It is another when you grow to 50 people, a hundred people, or more than a thousand. That’s why the founder of a company often needs to take a back seat. Few founders can make the transition from a “do it all myself, know it all” leader to one that sets a vision, constantly provides positive feedback to employees, and always talks about the team.
Consider this diagram of the priority focus of the leader based on size of organization.
You have 3 choices Profit, People, or Process. When you start, Profit is the first priority. Then you add some more People and quickly realize the next step is to create Processes to support the People. Then, as you get larger, it become all about leadership of People that execute Processes to produce the Profits. Even in the situation of a large corporation turnaround, the CEO and leadership team focus on inspiring and leading the People to execute cost reduction Processes that lead to improved Profits.
I have personally experienced each of these stages as I was the first employee hired into a startup and left the corporate world while leading a department of 200 people and scads more at the many suppliers doing work for us. All this while I was in a company of nearly 100,000 people across the globe.
Want to learn more? Let’s talk https://calendly.com/paul-ba
Not sure yet? I understand. Watch this video whenever is convenient to you before we talk. Depending on your browser setting, you may have to open the link in a second browser tab or window.
https://www.rewildgroup.com/lpryb-webinar-videooct20
Remember to Make It a GREAT Day!
