Guest Blog: Does your Company need to hire an Entrepreneur?
Tuesday July 28, 2015
Many more of us business owners are ambitious and determined to grow our businesses. We know that businesses don’t grow in straight lines, they grow in steps. We also know that we want to grow and make the most of the vast opportunities in today’s dynamic marketplace. The questions we don’t have the answer to is “How do we grow our business?” “How do we achieve long term sustainable and scalable growth?”
Maps, Tracks and Strategic Plans
A recent survey conducted for the Department of Business, Innovation and Skills revealed that over two thirds of businesses surveyed wanted to grow but fewer than 20% had in place, robust strategic plans they were using to map and track their progress. Companies reporting significant growth already had such plans in place and without exception the business owners all reported they were managing growth with external professional help and support in the form of a business coach or mentor.
The external input proved invaluable because the coach/mentor not only brings an external perspective, but they themselves were successful entrepreneurs with a track record of running successful teams and enterprises. They knew the pitfalls and challenges growth brings, how to exploit the opportunities, and the importance of developing the skills of the business owners and senior leadership team as the business gets bigger. They also act like a carrier pigeon, seeing what works well (and what doesn’t) in other businesses and sharing knowledge, ideas and best practice from business to business.
Think and Grow Rich
In the book Think and Grow Rich (essential reading for ambitious entrepreneurs) Napoleon Hill talks about one of the fundamental ingredients to success in any venture is to be part of a ‘mastermind’ group. The most successful people the world has ever seen all acknowledge they don’t have all the answers. One of the worlds most successful and wealthy entrepreneurs, the Scotsman, Andrew Carnegie put his success down to ‘seeking and gathering around him people who were more clever then he was’.
The exciting thing for us as ambitious business owners is that we don’t know what we don’t know. Change is constant and trying to stay one step ahead of the game requires thinking time, planning time, implementation and most importantly time to be able to sit back and review progress and check what direction we are going in. In other words, time to work ON our business, not just IN our business.
In search of the answers to how we grow our businesses, the start point is to set aside some quality time to visualise where we want our business to be – perhaps in 5 years, 3 years and 1 years time. Begin by building a plan in our heads – then seek outside advice, help and guidance. Find an ‘entrepreneur’ to sit down with us and help us take everything that’s in our head and capture it into a plan. You will be amazed at what you see.
About New Level Results
New Level Results supports business leaders, senior executives, business owners, senior teams and individuals to generate the results they want and need. Their programmes have a track record of over 30 years of success. One programme has helped over 1 million individuals world-wide make their personal plans for success every year, and the Team programmes are used by over 850 organisations – be they major Corporates, SMEs or individuals.
He is passionate about helping business owners and executives create ambition plans for their business and personal life and is driven to set higher standards in the coaching industry so everyone wins.