Plan for Business Growth

Business Growth Planning

When your business grows quickly, things don’t “naturally fall into place” like you might hope or think.  Many businesses actually go out of business as a result of growing too fast and not having the infrastructure to support it.  The way to avoid some (and I do mean some) of the surprises that go along with business growth is to have modeling and a process that will help you see and address some of the obstacles.

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Better! | Extraordinary Business

better brand

Intentional Steps to Building a Better Brand As a business owner who has been around for a while, you are good at what you do. No question about it. Your company wouldn’t still be around if you didn’t. Question for you: What makes your company good? What makes it great? What makes it better than the competition? How many times have you received a marketing message wherein a company or their products claim to be pretty good, adequate or good enough? Probably not too often, or at all. Perhaps there might be the company that claims to be the cheaper (think “knock off!”) version of a very expensive item or brand, but even they describe their products as “just as good without the price tag.” Question is: What is better? How does a company present itself as truly better?

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Better!

better brand

Intentional Steps to Building a Better Brand As a business owner who has been around for a while, you are good at what you do. No question about it. Your company wouldn’t still be around if you didn’t. Question for you: What makes your company good? What makes it great? What makes it better than the competition? How many times have you received a marketing message wherein a company or their products claim to be pretty good, adequate or good enough? Probably not too often, or at all. Perhaps there might be the company that claims to be the cheaper (think “knock off!”) version of a very expensive item or brand, but even they describe their products as “just as good without the price tag.” Question is: What is better? How does a company present itself as truly better?

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Operations Management: Too Complicated? Not Important? Think Again. | Extraordinary Business

The essential role of operations management in small business

imageAs a small business owner, you recognize that there about a million things that you have to do every day, from the things that you have to do, the things that you would like to do and the fires that seem to present themselves at the most inopportune moment. It seems like managing one more thing is just going to put you into overload, or require that you take your eye off the ball.

When a business is in its early stages, typically the first few years, in terms of maximizing a return on investments – time, money, other resources – focusing on refining operations might be like a body builder that only focuses on his upper body…you end up building a top-heavy, inefficient business. (In the early stages of running a company, it is important to learn and be adaptable. Rigid operational policies will get in the way of that and make it more difficult to make changes.) This doesn’t mean that you will complete disregard operational management, but rather, your framework will be “squishy,” whereas a more mature business will have a more rigid framework in order to maintain the rigors of growth. Which is the point.

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Not IF…but WHEN | Extraordinary Business

Considerations for when to engage in building a business plan.

imageMany business leaders go into business without having a business plan.  Many successful business owners will say that simply because there are so many unknowns, a business plan isn’t a good use of time.  It is suggested that a simple, one page plan should suffice to open up many types of businesses – especially service based business, and operate profitably.

Perhaps that is true.  But what if we are wrong?

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No Room for the Faint Hearted | Extraordinary Business

Get moving or get out of the way.  Business leadership is full of risks.

imageWhen I was in middle and high school, I remember a number of students who found ways to make money; such as selling candy and pencils in the hall, doing other people’s homework or giving people rides home in their cars.  There was always a risk of getting caught, which wasn’t without consequences, but this didn’t stop the people who were really committed to having some money.

Risk is still a very real part of business ownership today, and the consequences could be more devastating, in some cases.  Regardless.  Business leaders, if you want to build a strong business, you have got to learn to eat risk for breakfast.  When you started your company, you had only a 30% chance of being successful.  Do what it takes.  Be tough.

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The Countdown

Extraordinary Business: The Countdown The end of this year…the beginning of the next; these are “mile markers” in the growth of any business. As business leaders, we often take this time to compare business successes in prior years versus the year that is rapidly coming to a close.  Savvier business leaders will begin evaluating their … Read more

Don’t Just Stand There! Open the Door! | Extraordinary Business

I was working with a client, over the weekend, at his office in Downtown Atlanta.  He mentioned to me, when we were walking in, that he had gotten a ticket parking in the same location that I did.  However, there was a 2 hr parking sign there, so I felt like I was safe. As … Read more

Extraordinary Business: When Opportunity Knocketh

How do you know when opportunity is knocking? How do you know when it is the right opportunity? How do you know when it is the right opportunity for you? As a business leader, you are probably aware of the old adage that says, “It takes money to make money.”  Practically, this means that typically, … Read more