Why is my business not growing?
Why is my business not growing? As you may know, every small business starts out resembling the owner of the business. What do you mean resembling? I mean that the business reflects the personality of the person that runs it. So in essence, the business looks and acts like you! So, think about what you want to do, which is grow your business. What do you think that means for you as a person? That’s right, it means that you should steadily grow, mature and learn new things to help you and your business become successful. If you aren’t, then your business will become stagnant. So, if your business isn’t growing, look to yourself to see where you aren’t growing.
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As you start the process of evolving yourself and starting that change, you will begin to see that potential inside of you start to realize its self, and in turn that will reflect in your business.
Another thing that you will need to grow is a dynamic team. You create this team by equipping them with the tools they need to succeed as individuals. By doing this, they become extensions of you, and thus positively impacting your overall business..
But what if you don’t have good quality employees? Well take McDonalds for example. They find the lowest qualified employee to give a consistent result every time, which is delicious crunchy French fries. You don’t have to be an expert to make fries, but because McDonalds has a system in place to equip the person making those fries, they come out the same each and every time.
This is what you need to do. Have a system in place equipping your team with the tools to make them successful. You have to take this action on this, but a lot of people don’t and here are seven reasons why they don’t.
1. It’s hard- to start the process of equipping your team is hard work, because you’re training them to think a different way, or take on new challenges. Because you are invested in the business, rather than delegate or train, a lot of business owners just handle it themselves, which takes time from growing themselves and the business, as well as taking a valuable learning opportunity from the employee. This in concept makes it less of a business and more of a self-employment opportunity, and makes the entire business dependent on you, which is not the overall goal.
2. We underestimate people. Some business owners say, I just don’t have the money to hire quality people, and once my business grows, I can afford to pay the hire more quality people. How do you expect to get there, if you don’t work with what you have. As a leader, you have to understand the reality of your situation at the current time. If you feel that you don’t have quality employees then you may be either a) underestimating them, or b) you don’t have a system set up for them to be successful, because they don’t have the information, and nowhere to look up the information. Sadly, no employees come with the pre-packed information for your business, and to find someone that can fulfill your wish list, will cost you money, but that doesn’t mean that your current employee can’t fit that bill with some set systems in place.
3. The I’ll do it myself mind set. As I mentioned earlier in this post, the do it yourself mindset makes the entire business dependent on you, and doesn’t allow the team that you have in place to learn new tasks and responsibility. So by delegating, and growing your teams skill set, you free time to grow yourself, and the business.
4. We grow our ego strength from being needed. An example is when people call my office, and say, I need to talk to Drew. Well, no you don’t because I have set my team up with the tools to be successful, and can answer any and all concerns that you may have. I have given them that empowerment to be successful, and thus making my business successful.
5. The habit of doing everything ourselves. We answer emails, and phone calls, and it goes back to that ego we just spoke about. You must grow out of the infancy stage, and place a team that can handle all the day to day work, so that you can grow, and with that grow the business.
6. You want to keep control. You want to do everything yourself, you want to maintain that tight grip over everything. You feel like you can’t hand this over, it’s too important. You can hand it over, you just must put some systems in place, so you know that its being done properly every time, and this is done by equipping your team.
7. You don’t notice the leadership potential in your team. You get wrapped up in all the day to day, that you overlook the hidden talent that you already have on your team. So that results in not giving them a chance, or equipping them to show their true potential and how that can impact your business.
So I encourage you to grow yourself, and as you do, equip the people around you, and I guarantee that your business will grow if you start doing that one thing.