Owning and managing a growing business can make you feel like there aren’t enough hours in the day to get the basics done, let alone think about the future of your business.
Business growth can be chaotic. Nothing is more essential than taking time out to review the current state of your business and the impact on its future.
I know from experience that business owners drastically undervalue their own time. Often prioritising menial day-to-day tasks over things which can truly impact on business success.
This oversight is usually through no fault of their own, merely the perception that it is quicker and costs less to do it themselves when under pressure.
Your time is precious, and to achieve business growth you must use it wisely. Take a step back and review the elements of your business. You may discover alternative methods of doing things which are far more efficient and cost effective. It is common for those who both own and manage their business to get stuck in a rut. Losing focus on the end goal whilst attempting to juggle everything will do you and your business no favours in the long run.
Don’t be afraid to ask for help, outsource or delegate. It will allow you to focus on doing what you’re good at. Sometimes it takes someone with a different skillset or perspective to help you overcome certain hurdles, or even just give you the headspace you need to identify new opportunities for change. Remember, time is money and getting someone in can often cost less than the value of your time.
In some circumstances hesitation to review the business can lie in the fear that deeper issues may be uncovered. If you’re tempted to just bury your head in the sand those niggles will turn into frustration, absorbing even more of your valuable time. Looking from the outside in will help identify the cause of these problems, whether this comes from you taking a step back or bringing in external help.
You can’t sustainably grow a business by sweeping problems under the carpet. Identifying the cause of the issues holding you and your business back is the first step to solving them.
With commitment, guidance and consistency you can overcome these challenges. Yes there are areas in business which you simply can’t control. Taking time to understand the bigger picture will give you clarity, and a business plan can help focus the mind.
In times of adversity, taking a step back will give you the necessary mindset for identifying the right strategy, and navigating your business to achieve growth.
Adrian Slade is a Strategic Brand Specialist, Fellow CIM and Chartered Marketer, Senior Associate Lecturer at Henley Business School, CEO and Founder of MK Group, a strategic brand and business growth consultancy based in West Sussex. To find out more visit www.mkgroupuk.com, or follow Adrian on twitter @AdrianJSlade