During the early years the main issues relate to consolidating the business by improving controls, developing lead generation and building teams.
As the business faces the challenges of expansion this tends to focus on securing funding, moving into new markets and new products and services, competing with bigger businesses, mergers and acquisitions and protecting the company’s position as markets change.
We will take you through the 5 stages of business growth and help you to understand the challenges you will face and how to overcome them.
The main growth hurdles a business faces as it aims to achieve its potential are as follows:
Stage 1 Creativity
The business gets off to a great start due to the strength of the new business model and concept and benefits from the founders drive and energy. The classic issue is that the business owner becomes overloaded with administration and operational problems.
Stage 2 Leadership & Team Building
At this stage leadership skill is required for the business to pull though this stage. We will help you identify your priorities, and work with you to give your business clear goals and a sense of purpose to drive the business forward.
Stage 3 Delegation
The solution to the crisis of autonomy is to recognise that more responsibility needs to be delegated to your team. Most business owners hand on to too many tasks and this is mainly because they believe that no one else can do the job as well as themselves. This is the main cause of businesses to stagnate and never reach their maturity. We can identify strategies that will help you overcome this challenge.
Stage 4 Business Co-ordination
During this phase the business faces a crisis of control. The business becomes more fragmented and uncoordinated. The results become apparent through a
loss of profits, margin erosion, unplanned development and a lack of a coherent strategy.
We aim to overcome this challenge by incorporating the best of delegation and the direction phases. Quite often this results in the business being subdivided into manageable units with their own goals and missions.
Stage 5 Business Collaboration.
The final remaining challenge is to make sure the business does not become a bureaucracy and that it loses the energy and drive that made it successful in the first place. We will help you to identify strategies that will create strong systems and an emphasis on team orientated activity. One of the areas we will focus on is management development and personal skills enhancement.
How To Build The Business You Desire
Business Navigation Services are delighted to announce that we have designed a new Business Growth Programme specifically created for business owners who want to continue to grow and adapt to the continuing changes in the business environment.
We work with our delegates, so they leave the programme with a clear business plan to enable them to build the business they desire. Learn more