Those who do not remember the past are doomed to repeat it. ~ George Santayana
Recently, we have been talking about how HTG wants to Ignite Transformation in your business and life. In your business, growth is not linear. We see plateaus all the time. There is one at 500-700K revenue, one at about 1.2M, one about 2M, one about 3.5M, one at 5M, 8-10M, 15M, etc.
Typically, when your business has plateaued you have figured out “how” to do things well. You are asking yourself the “what” questions. What should we be doing? What’s next? What are larger companies doing that we are not?
You try some things and hopefully find the opportunity that will allow you to grow or identify the constraint that is keeping you plateaued. You finally figure out what you need to do to “jump curves.” You’ll grow quickly as you implement the change or capitalize on the new opportunity. During this time, you’re asking yourself the “how” questions. How can we do this better? How do we track and manage to the right KPI’s in order to maximize profitability? How do we improve our processes to eliminate waste and deliver better service? How do we communicate with our new company size? As you figure out those answers you’ll begin greatly reaping the reward of a new curve. Eventually, your delivery along the new curve will stagnate for any of several possible reasons. You will plateau again and begin asking the “what” questions. That’s the rhythm of business growth.
The reality is you can’t stay the same. You are either progressing or you are becoming obsolete. Time will keep moving; the industry and technology will continue to change; your competition will increase; and your clients will expect more from your service.
Growth, plateau, curve jump. That’s the cycle. The key to long-term, consistent growth is to have a system that facilitates recognizing those plateaus, figuring out the constraint (or growth area), dedicating resources to fixing the problem (or create the solution), and staying laser focused on saying “no” to efforts that don’t address the identified immediate need.
We have tools to help if you are stuck trying to navigate your current curve or jump to a new one. We’ve found some of the EOS practices (yes, we do EOS consulting) around meeting rhythm, agendas, HR tools, etc. great for tightening up your performance around your current curve. The harder part of growth – systematically identifying the few, most important things to work on (whether it is tightening up your performance or jumping to a new curve), getting your leadership team fully behind your vision and learning how to dedicate the proper resources to addressing these issues to resolution – is where StratOp shines.
We are serious about helping Ignite Transformation in your business and life. In Q2, our focus is on legacy. It’s a great opportunity to take stock in the value of your business and how it fits into your personal wealth target. If you are not making the necessary progress in your business valuation to meet your personal financial goals, we want to help. We would be happy to talk with you on how to build and operationalize a strategy that will help you jump curves and build the value you need into your business before it’s too late.