Only 4 out of 10 businesses will make it to $1Million. And only 4% of those businesses will make it to $10Million. The numbers decline from there.
The odds are not in your favor as an entrepreneur and as a CEO trying to grow – and there are lots of ways that you can fail. (BTW – If you’re interested in the Ten Mistakes that Small Businesses Make – thanks to Lonny Strum for the link – check it out here.)
In fact, based on over a decade’s work with the small and mid-market business community, I consider Growing and Sustaining a Business to be the third hardest accomplishment – next to having and keeping a good marriage and raising kids without doing too much damage that needs to be corrected in therapy later
All of which leads me to the last (somewhat delayed) TWO REASONS why I think that the Rockefeller Habits and the Four Decisions Framework should be a “no brainer” for small and mid-market companies.
#2 Proven Methodologies and Business Building ideas
Why wouldn’t you use the tools that literally tens of thousands of businesses have used to grow and flourish? And with two Summits every year to stimulate your thinking (the next one is the the Fortune Growth Summit to be held in Phoenix, Arizona this October 24th and 25th) – you can’t go wrong.
A few “must do’s” to get your message out both internally and externally that I picked up from the Leadership Summit which was held in Houston earlier this month?
- Broadcast your weekly progress against your Quarterly Rocks or Annual Planto your Company – Through voice mail, daily huddles, email, internal company newsletters – whatever communication vehicle works for you – Just get it out! Greg Brenneman (Link does not work) who led the turnaround of Continental Airlines shared with us that they let every employee know every week by voice mail exactly where the company stood versus their plan – a great way to keep up the lines of communication and keep people engaged.
- Find out who your Mavens are in the Social Media space – Courtesy of Josh Bernoff, (Link does not work) coauthor of Empowered: Unleash Your Employees, Energize Your Customers and Transform Your Business – 10 to 20% of your customers generate 80% of the influence on social media. Find out who they are and figure out how to get them to get your message out!
And finally…#1? The One Thing – of Course!
Verne’s “eternal” phrase – the need to focus and prioritize no matter what you’re attempting to do. My biggest takeway from the Conference in Houston? What all of the Leadership Gurus had to say?
Pick One to Three Strategic Priorities…and stick to them! Work on those key areas that will get you closer to where you want to be in business and in life.
In the process say “NO” more…to what’s NOT on your priority list.
And make sure that one of your priorities is to work on being a Better Human Being (thanks to Marshall Goldsmith (Link does not work) for that insight)!
And if this list – and the possibilities that exist for your business – hasintrigued you? And – you’re ready to learn how to stack the deck in your favor, drop me a line at firstname.lastname@example.org or give me a call!