March 16, 2019

Are You Green and Growing?

ARE YOU GREEN AND GROWING?

Wouldn’t you like to take a long vacation and have a great life outside of work?

Millions of businesses will never be able to tap into the wealth they have tried to create after years and years of effort because their company isn't growing. Their business is too dependent on the owners and current leadership.

Here are three requirements for continual growth for your company...

1. You have the right mindset.

Success begins with your mindset. Many business owners or its “leaders" keep their businesses dependent on them due to limiting beliefs.

Examples include: “I can’t trust anyone to do the job as well as I can”; “I need to be the hero”; “Everything always needs to be perfect”; and “This company is my baby and I won’t surrender control.”

In contrast, many successful businesses owners and leaders go beyond these beliefs. They are willing to surrender full control. They don’t need to micromanage. They are open to recruiting people smarter than they are and to giving them the resources and time to develop professionally.

2. You have a foundation in place to recruit, retain, and develop leaders who can keep the company growing.

Building a successful company starts with a strong foundation. Elements of this foundation include:

  • Clear roles and responsibilities
  • Accountability through performance metrics
  • A recruiting process that attracts top talent
  • A process that develops talent
  • Management philosophy that engages and retains talent Career paths for key roles
  • Systems and processes that allow the company to run independent of key employees
  • A performance management system that is fair and demands the best from people
3. You have an ongoing succession planning process to keep challenging and preparing new leaders.

If you have the above requirements in place, the final piece of the puzzle is an ongoing succession planning process. Succession planning is not a one-time event to replace a retiring executive. It is an ongoing approach to identifying top talent, developing them, and challenging them to move up.

Organizations that have these three requirements in place can keep on growing.

They give the leadership more time to spend on strategic issues and setting high standards. Most importantly, they make the organization more valuable. Companies that don’t do the above will not sell. Eventually they will wind down, and the ownership will lose out on a huge potential source of wealth.

Sometimes the help of an outside advisor can make a huge difference in the growth of your organization – now or in the future. If you need help growing your business, let's talk. Even a few minutes on the phone can make a huge difference in your organization.