Pain points and expanding a company

Startup circular structure diagram. Young businessman holding a marker and drawing a key elements for starting a new business. Isolated on white background.

As our company continues to expand and grow I understand because I’ve been a founder or one of the first employees before.  The goal, at a startup, is to learn from your mistakes and as you build out the business make it better, smarter, and faster than ever.  As you evolve, learn from the different personalities, processes, and adapt a framework that has worked before – understanding that the marketplace has changed and, especially in Information Technology, that things shift very rapidly.

Tony Robbins talks about these challenges in his article regarding the pain points of growing a business:

http://ow.ly/cS7V306x5Wx

Systems and Process Problems:

Certainly, back-office and HR systems should change, as Tony mentions, those systems and processes that worked for a handful of employees probably aren’t going to work the same way for thirty plus.  Be sure to hire productive, innovative, and self-starting employees that can not only adapt to change, but can help bring it as well.

Innovation:

It’s important to keep your ear to the street and close to industry to understand changes and trends.  I’ve been stuck in the “one trick pony” scenario before where alliances and offerings were starting to work great and soar, only to lose a year or two later because I hadn’t adapted enough to differentiate for customers farther down the road.

Culture = your people and vice versa

As the company grows you might start “noticing a change in the disposition and attitude of your original employees.”  I completely relate to this.  I personally was an original at a company that was infiltrated by strangers.  It’s important if you are sales manager or salesperson #1 to negotiate, negotiate, negotiate your package and your pay structure.  It just makes sense.  If you are not a founder or principal of the company, that company is going to use you for all your talents to build a great organization and make it stronger, but once there, management has very short memories.  Praise and gratitude from company leadership is helpful and there is a time and a place for celebration and comradery, but business is business and money is money.  Get your agreements signed and approved by legal to capture as much company stock, ownership, bonuses, and potential future payouts so you can enjoy the beginning as well as a successful exit.

Tony Bilby

The Business of Business

A business is more than just a money machine. Like a living organism, it takes more than just sales to breathe life into your business, and in fact, profits are the least of your concerns when building a thriving business. What are some tips and tricks you can use to make the success of your business, your business?

The first and most major realization you should be open to is that if you got into this business solely to get rich, you will fail. No plan that has ever begun with the end solely in mind has ever gotten far. You need a goal. A mission to aspire to and constantly push yourself toward achieving. Without something for you to drive toward, your business will seem hollow and insubstantial.

You need to have passion for what you do. While your individual desires may vary, it’s important to communicate those desires at every opportunity. If your employees and investors get the sense that you’re not putting all of your heart behind your product, they’ll take their time and effort elsewhere. Don’t be afraid of showing how much you care about your business.

The freedom of owning your own business is a double-edged sword. Without knowledge in its correct use, you’ll end up hurting yourself and your company. Freedom means that all of your time now belongs to you and your business. Many small business owners either underestimate the work needed to grow, and fail, or they start operations and fall victim to their own laziness.

Tony Bilby closing

Closing

Lastly, you’ll want to focus on your impact and where you’d like to make it. A business that aims low will surely hit their mark, but if you set out to make a difference for the world and fall short, you’ll make an impact with those you were able to reach. While not all small businesses are geared toward making the world a better place, you can make the world your business inhabits a better place. Redefine the way homes are constructed, serve ice cream with the widest smile imaginable, whatever you choose to do, do so without compromise or fear.

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