This Week@Work I met with a large construction business who tried to smooth out their lumpy project based revenues by developing an out-of-the-box designer hut solution. Great idea, right? Then why hasn’t worked?
Watch as I share what went wrong and what we can learn from it about staying true to who we serve and how we serve them.
This Week@Work I met with a business owner who has a brilliant product that genuinely competes with the best in their industry.
But a product only exists for one reason – to solve a problem for someone. The team and commercial system that allows people to find, use and want more of the product is the 2nd half the business.
Watch as I discuss this idea of 2 parts of a business.
This Week@Work I met with a business that is deeply entrenched in all things solar – a great sector to be in but their problem is that they have evolved to be everything to everyone. Their positioning is not clear, and they won’t be able to scale and grow until they get that right.
I look to baked beans to illustrate how to think about your business’s positioning.
This Week@Work a meeting with a pump business reminded me how complex and complicated businesses can become as they grow. To be able to scale, successfully, you need to understand clearly where your focus and investment should go. To get this right, think about your business like an onion.
Watch as I share my Onion Method.
This Week@Work I met with a business owner whose growth is being hindered by his unconscious competence – he’s mastered what he does to the point where he gets things done without thinking. It may seem like an advantage, but it can also lead to complacency.
Watch as I discuss this ‘blind spot’ which affects many of us in our businesses.
This week at work, I met with a group of brilliant engineers who undoubtedly offer a highly specialized solution. It’s something no one else can do at this stage and they believe that is enough to drive their growth. It made me ask whether these engineers are building a business, or if they are just creating a job for themselves. The difference is profound.
Watch as I address what’s missing if all you have is a brilliant product or service.
This Week@Work I visit an old warship to bring to life an analogy that building a business is like sailing a ship.
Both a ship and a business need: A destination, a crew that operates clear systems, and a Captain, whose time is either spent in the engine room or up on the bridge.
Watch as I take you on a quick tour
There are 2 elements that go into valuation: The first involves the 5 technical levers of valuation which can be built into your business, and they make up around 60%, the other 40% is all about how you strategically exit your business.
I outline the process in a couple of minutes in the video below, and have created a 5-part series on each of the layers of valuation that goes into more detail on each, you can find those here.
What does the majestic home in the background of this week’s video, that belonged to ink tycoon, Inky Stephens, have to do with business growth?
Watch to gain insights into the 4 types of growth that need to be put in place to build and lock the value in your business, and a suggestion on what to do beyond that, to secure your legacy.
Inflation erodes your business’s value, forcing you to grow simply to maintain value. How do you find that growth? Pavlo Phitidis identifies two areas to take advantage of inflation and create growth opportunities.
