Though spikes and disruptions will hit and the future is far from clear, many businesses would benefit from taking a step back to reassess not only their long-term goals but also the process by which we establish those goals. This is one of those areas that, if was as leaders are not intentional, we could end up suffering from a side-effect of COVID-19 for a very long time: a heightened emphasis on urgency.
A common but wholly bewildering problem founders face is apathy among their employees. As a successful founder, I'd be willing to bet you are wired to drive forward. You probably don't have an off button (at least while you're awake). Employees can be a whole different story.
Great leaders distinguish themselves from bad or even just good leaders by their ability to make the right decisions at the right time. There is a mystique that surrounds a great leader's ability to make great decisions, and I see it all the time in founders.
When I start working with a founder and their team, one of the first issues we have to address is a big one: How they approach growth. Typically, up until this point, they have grown by selling as much as they can and then scrambling to keep up. But this strategy is about to expire.
You did it! You started a business with nothing more than a dream and a willingness to roll up your sleeves. You worked hard, really hard, and the business grew. You're a stand-out success by everyone else's standards. So why are you not jumping for joy?
Does everyone in your company understand your common goals? Does everyone in your company agree with those goals? Does everyone in your company work effectively and efficiently toward achieving those goals? If not, you might be surprised how much it is costing you every day.
I'm going to share with you the five ways I learned to overcome the departmental silos that develop in virtually every single growing business. Each of these five strategies will help you build the cross-functionality that will allow the organization to work across functions and between silos, at all levels, in an organic, natural manner.
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.