What’s Going to Happen in 2019
Wouldn’t it be great if you knew what was going to happen in 2019 so you could be prepared? What impact will the new congress mean, what will happen with tariffs, will there be a recession, is the Central Bank going to continue to raise rates, etc. Various “experts” will tell you what they think, but no one really knows for sure what those changes will bring.
Your Plans for 2019
What you can do is talk with those you do business with and learn about their plans for 2019. Applying the 80-20 rule, you will find that 20% of your clients provide 80% of your sales. Focus on these firms. Do they see their sales expanding, dropping, or staying the same as 2018? If they see sales expanding, that should mean more sales for you, too.
What you can also do is develop a marketing plan for 2019. You may want to focus 50% of your effort to capturing more business from existing customers. Previous customers already know you so they are a rich second source for expanded sales. Then there is finding new customers.
More Sales – More Employees
If you plan is to expand sales, you most likely will need to add more employees. What if there was a way to predict the impact adding new employees would have on your company? Here’s the good news. You can! According to a research-study, people add complexity and that same study gives you insight into how to manage the additional people.
A Researched Foundation
Based on interviews and working with 650 CEO’s in 35 different industries, James Fischer was able to identify 7 Stages of Growth that firms pass through. In this research, he also found that businesses face 27 different Challenges as they grow through these 7 Stages of Growth. For each stage of growth he also determined the appropriate Builder: Protector Ratio. And, for each stage of growth he identified 5 Non-Negotiable Rules.
How Growth Will Impact Your Company
The 7 Stages of Growth allows you to predict how growth will impact your company. For example, if you have 18 employees and plan add 4 employees and grow to 22, then we know you are moving from a Stage 2 (11-19 employees) to a Stage 3 (20-34 employees) company. Here’s what that means.
Gate of Focus shifts from Profit to People Be aware of leadership/staff communication gap, staff buy in, etc.
Builder: Protector Ratio moves from 3:1 to 1:1 You need to balance the confidence/caution in your organization.
Leadership Blend changes from 20% Manager to 60% Manager This is major shift and new role for you as CEO.
CEO Modality shifts from Dominant to Facilitative You need to make it easier for your management team to take the lead in their department.
Top 5 Challenges move from expanding sales and cash flow challenges to managing your culture and setting in place core values.
Your company will also pass through a Wind Tunnel which means that you will need to re-evaluate all of your procedures. What worked before may not work because of new complexities caused by your growth.
Getting Started – A Test Drive
You may be wondering if the 27 Challenges will really work for your company. So I challenge you to take the FREE 27 Challenge Assessment. It will not only give you better insight into your Top 5 Challenges, but you will receive a Special Report for your Stage of Growth. The Report will provide you with the following:
- 5 Biggest Challenges for your firm’s stage of growth
- Tools to Build Your Business
- 5 Non-Negotiable Rules for your firm’s stage of growth
- Business Building Blocks
- Getting Ready for the next Stage of Growth
To take the FREE 27 Challenge Assessment go to https://www.trwconsulting16.com/ and click on Take 27 Challenge Assessment.
TRW Consulting was created to help companies navigate the challenges that are typical for Stage 1 through Stage 7 organizations. We have designed programs, services and tools that are directly tied to the issues you’ll face at each stage of growth.
You can find over 14 articles on LinkedIn and my website that relate to the 7 Stages of Growth. Here is the link to a related one – When Everything in Your Company Changes – Ramp-up to Delegation https://www.trwconsulting16.com/everything-company-changes-ramp-delegation/.
Another resource is my eBook 4 Puzzle Pieces to Growing a Successful Business. You will find it on the home page where the 27 Challenges are located.