If you are a Founder or CEO of a $1M+ business, you've probably come to recognize how important your senior leadership team is to your success. You can't do it on your own. You can't make all the decisions or manage all the people. You need strong leaders who can share the load.
You can’t reach $10M or $50M the same way that you reached $1M or $5M. In the early days of organic growth, you can simply sell your way to success and deal with fulfillment problems as they come. To break the $10M barrier and go deep into 8-figure territory, you need to first create the internal capacity for scale, then you can get back to selling and growing your top line.
Should you be pivoting your business right now? How do you know when to pivot, and how do you know what to pivot to? Should you jump to a new industry to make ends meet or even make the switch altogether? The COVID-19 pandemic has got business owners and leadership teams scrambling to answer these questions.
As humans, we grow up, reach our prime, and then walk the road of wisdom as a simple function of time. In other words, we grow old. However, businesses don't face the same sort of mandatory aging. Instead, your business can, in theory, stay in top form for as long as you'd like. Here's how you and your business can defy the laws of gravity for as long as you (and even your successors) would like!
Unfortunately for every business, there will come a day when it is no more. This is the unfortunate reality of the final stage of the Predictable Success lifecycle, Death Rattle. There is a greater question here: why is it so hard to stay successful?
What is it like to be in Big Rut? Well, the business looks great on the outside. It looks even better from where management sits in their beautiful corporate offices. However, the employees will tell you the truth in their words, their actions, or both that the organization died on the inside long ago.
Big Rut is the second to last stage in the Predictable Success lifecycle. While the Big Rut doesn't sound like something any of us want to put our business in, there are many once-great businesses, organizations, and institutions that have done precisely that.
A company's fate is decided in Treadmill. In this article, I'll show you what happens to this decision in the wake of (or middle of) the COVID pandemic, and what strategies you can implement to use the crisis productively to turn things around and pull the business back into Predictable Success.
The problem of Treadmill is the business has begun to lose or even suppress the visionary risk-taking that brought it this far. It is often so subtle that most within the organization don't even notice, and those outside of the organization (especially stockholders) will likely be happier than ever. What no one realizes is that the fate of the entire organization is decided in Treadmill.
In the middle of all the economic hardship and social upheaval we are experiencing right now, there is an opportunity for some businesses to grow faster than ever. This is a strategy that companies in Predictable Success can use today to create years of growth and come out of the crisis, not only surviving but thriving and better off because of it.
Predictable Success is where you, as the leader, can put your foot on the gas pedal, and the whole organization moves forward. You found the tools, made the necessary changes, and in Predictable Success, you reap the rewards. You can keep your business in Predictable Success for the long-haul using these four key strategies!
If your business was in Whitewater in March, the last five months have likely been brutal. Stuck between Fun and Predictable Success, you didn't have the agility or the depth to weather the economic uncertainty caused by the COVID-19 pandemic. But there is hope! Here are the three phases of what I believe is the best strategy for you to regroup and get your business back into winning form.