This Week@Work, I presented a series of workshops with business owners looking for scale and growth, of course! One of the big discussion points was who should lead that growth. As the business owner you’re the biggest investor in your business and growth inherently carries risk. You need to be the one driving growth as you have everything to lose or gain from it.
This Week@Work I met with a business whose owners believed they were doing well enough, and didn’t need to focus on growth. I used the analogy of a white ant to show them that in an inflationary environment there is no option but to grow, if they want to maintain their value.
Watch as I share the analogy and remember to always be growing!
This Week@Work, a fierce debate around technology, and ChatGPT specifically got me thinking about the importance of being an early adopter to stay ahead of your competition.
You can choose to constantly explore what new technology is out there, understand how it can benefit your business, and to implement it to lead your industry, or you can take a more cautious approach, see how it pans out, and you will find yourself lagging behind.
This week@work I met with a frustrated, established business owner who is looking to sell his business in the next 5 years. As part of his exit strategy he ramped up revenues to appeal to a buyer, but his success has put him squarely in ‘No Man’s Land’: Too big for private buyers to afford and too small for listed entities to be interested in.
It’s another warning to start with the end in mind so you can build your business for the right buyer.
This Week@Work, Reset, rebuild, and reignite your business annually as a practice to ensure it’s relevant, optimised, and set for growth. Don’t get caught with your pants down because of comfort, complacency, boredom, or exhaustion. You’ve worked hard to create the value you have; be sure to vigilantly nurture it!
This week@work I met with group of business owners who are deeply passionate about their business and it got me thinking about the difference between purpose and intent.
As a business owner the idealism of our purpose drives us to continue to invest in our businesses day after day after day. But it’s the pragmatism of our intent that is as important if we are to leave a legacy, and to monetise those years of investment, sacrifice and risk.
Watch as I share their story to illustrate the difference between the two
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.