Lifestyle and growth companies are completely different animals. A Lifestyle CEO starts or purchases a business to provide stable income, in an industry they know well. These are the people who put their software coding skills to use by opening a web development business or who go after their dream of opening a family restaurant. […]
If you are going to get past a plateau, one of the most important factors is getting your key personnel on board. What often ends up happening is that a founder caps business growth by hiring people beneath his or her own competency level. That is, he or she doesn’t hire anyone with greater knowledge, […]
Shared office space is a smart solution for some businesses, but definitely not for all. Here are five key considerations to help you decide whether sharing office space is right for your business: Does everyone really need their own fax machine? When I’ve worked with organizations with limited resources, I’ve often asked why individual organizations […]
Many factors can inhibit your business from growing. Here are four of the most common growth inhibitors and a strategy to deal with them: Day-to-day operations overwhelm the owner. The most frequent growth inhibitor I see is that the owner becomes overwhelmed by operations, so that they become a production cog instead of the person […]
If you ask the owner of a new small business, “How much do you want to increase sales?” they’ll likely answer: “As much as possible. Keep them coming!” Enthusiasm abounds in the early life of a business, but capacity can’t be ignored. Capacity is a business’s maximum output in a given time; it is what […]
In 1993, I founded the Eastern Veterinary Blood Bank, in a 3300 square foot space. The venue also housed an emergency veterinary clinic, and offices for a group of specialists. As the blood bank business grew, the team began to debate the idea of a new, larger space. We were divided. “Why do you need […]
Many owners whose businesses are on the plateau think that success depends on investing capital in the business, but growth for your business can come from unexpected sources, such as developing your business’ infrastructure.