Growing a business is hard, and struggle is normal.
Chances are, you're struggling with one of the following four things. Which one is it?
In Good To Great, Jim Collins concluded that organizations must first get the right people on the team before progress can start. With the right people, organizations can accomplish amazing things. Would you enthusiastically rehire all of the members of your team?
A company with the right strategy wins the deals it wants to win, and says no to the wrong opportunities. With the right strategy, revenues and gross profits are growing, and the sales team is smiling. Can you state your strategy in a single sentence?
Execution focuses on the performance of all parts of the organization in its quest to meet the objectives of the plan. Companies that execute plans will have tracking tools designed to monitor progress, good communication systems in place, and know how to adjust to changing circumstances quickly to avoid fire fighting and last minute rushing. How many consecutive quarters have you achieved your profit targets?
Cash is the oxygen that keeps the business alive. If you are short of cash, nothing else matters except to improve liquidity and to get out of the cash flow crunch. Is your organization able to free up cash without the use of outside financing?