At first there is a look of disbelief, quickly replaced by the question 'how'.
There are multiple reasons an Owner has stopped growing and or improving the value of their business.
(The same comfort level logic works for most anything. Your health, personal finances or relationships etc.)
The company is the size it is currently because the Owner can control all aspects of it. Generate enough sales. Wrap their arms around the operations. Be comfortable with the finance side. Continue to run the same sales and marketing efforts. Not have to replace anyone.
Basically they have reached a repeatable level of success. Essentially experiencing the same year over and over again.
But what if you want to have a different more successful year vs the previous one?
There are typically 3 key areas of your business that need to evolve, if you want to potentially transition a company for 300% more.
1. Open your arms wider. Think bigger, take on larger opportunities, give yourself permission to stretch. Don't be afraid to screw up. It will happen and you will overcome and succeed.
2. Owners often tell me they can't finance growth. There are many more resources for financial help than the bank. Once you find one or two that work for you, you're comfort level will rise and that project you didn't even try for in the past is now real and in your reach.
3. Finding good, qualified and reliable employees is difficult or impossible. First of all that's not true. You just need to find a great resource to help you. Once you do find the right assistance and make a successful hire, your luck begins to change.
The business runs better, new opportunities are identified and secured. You begin to attract the right staff and better customers. You have effectively removed some of the negative roadblocks and made room for more positive results. You've created a vacuum to be filled by success.
Now you have the bandwidth to try some of the ideas that have been on the backburner. Tap into and reveal hidden opportunities to increase sales or improve processes, make your company what it should be. Bigger, better, able to run on its own.
Get out of the way, focus on just what you love to do and work on the business not in it.
It's not going to happen overnight. You will require help. And yes it's worth it.
Ask yourself 'WHO' can I find to get the above tasks done, not how.
If you'd like to discuss the future success of your company let's meet for coffee or lunch. You can tell me about yourself and your business. I can fill you in a bit on who we are.
Alternatively please explore our website for more insights into this whole growing before transitioning thing. www.warrenbdc.com