Managing Business Growth: Has your Business Growth hit a Glass Ceiling?
In the last month have you found yourself questioning:
- Why am I still working such long hours?
- Why does it feel like nothing gets done unless I watch over people?
- Why am I still the only person who can do this job well?
- Where is all our time and money going?
- Why are we only achieving little or no growth?
These are clear signs that business growth is stagnating and the primary cause of that stagnation is you the business owner-operator.
How are you stunting business growth? There are 2 primary triggers.
1. You haven't communicated expectations and up skilled people.
As business owners we know we are more passionate and dedicated to our business than any employee will ever be. It's our baby. However, this is no excuse for failing to share knowledge and inspire people which is often what's happened if people lack the skills and knowledge to do a job well.
2. You have failed to implement effective management systems.
Lacking visibility and control over your business is highly stressful. The natural, and to a degree, sensible reaction is to micro-manage and stick ourselves in the middle of everything. It gives us comfort. However it stunts growth because we create a bottleneck as we try and ensure all tasks and actions pass under our watchful gaze. To achieve visibility and control over the business, and to be arms-length, you need to build management systems.
What's that? You ask. It's that elusive component to business management that you know you've always wanted but never knew what it was called.
A management system is a toolkit that enables you to work on your business and delegate effectively. They are the structures and systems that promote clear communication and direction to staff without the constant involvement of the owner-operator. It includes tools such as organisational charts, Key Performance Indicators, targets and budgets, job descriptions and a Strategic Development Plan. Establishing and consistently using this system will have a profound impact on the growth and sustainability of your business.
Strategic Management Systems for SME's
To develop, implement and monitor Strategic Management Systems can bring enormous benefits to your organisation. Eyes Wide Open can build a basic system for a company of 5 to 20 people in 3 months. Imagine how different your business would be with one?
The benefits include:
- Reduced reliance on the owner and senior managers for day-to-day and reactive problem solving. The senior management capability is then free to focus on more strategic tasks and the owner can step out of the business if desired.
- The scalability of a business is increased. The organisational structure is established and can be quickly built upon as required.
- It is easier to drive productivity and do more with the same resource.
- It will increase the consistency with which products ands services are delivered
- Smoother and more effective recruitment and training of staff.
- Increased staff morale and productivity through clearer communication, more specific goals and direction
Phone Eyes Wide Open on 1300 792 782 to find out how.
You might also like to read:
Small Business Productivity : Increasing Productivity without Increasing Costs
Eyes Wide Open offers our top 5 tips for increasing productivity in a business. As small businesses we generally operate a very lean ship. We are careful to manage our overhead expenses and c..Read More