Keep the Momentum: Focus on These Critical Challenges
You aren’t sure when it happened. But without really being cognizant of it, you have 14 employees. Fourteen people who now rely on you to “bring home the bacon” so they can fry it up at home.
Ouch. You knew things were getting more difficult to manage. It was getting harder and harder to keep up with the flow of work. Your employees were sending you “not so subtle” messages that unless you did something soon to ease their pain, it was you they might be “frying.”
You are now the proud owner of a Stage 2 company and have 11 – 19 employees. You just experienced what is referred refers as a Flood Zone, one of two periods of “chaos” that companies move through as they grow. A Flood Zone requires you to bear up to an increase in the quantity of activity. Your first reaction to a Flood Zone is to add more people. Don’t.
Instead, as you Ramp Up in Stage 2, you need to be focused on Profit/Revenue, getting critical processes in place and avoid the trap of just “throwing people at your problems.”
This mistake alone has accounted for too many businesses imploding too soon. There are five critical challenges you face as a Stage 2 leader. In talking to leaders who have made it to Stage 2, they are almost completely overwhelmed.
Based on recent research, getting focused on five specific areas of your company will help. When you get out of bed every morning, spend time organizing your day around these five areas. Make the commitment that you will address each one, at some level, every day.
The Top 5 Challenges you will face in Stage 2 include:
- Hiring quality people.
- There is a challenge expanding sales or production
- Continual cash flow challenges.
- Leadership to staff communication gap.
- Limited capital available to grow.
You probably haven’t spent time thinking about “managers” or shifting the responsibility of managing these 14 people – you are not only trying to keep them on target with projects, but you are still doing everything you’ve been doing since you started your business.
The Five Non-Negotiable Leadership Rules for a Stage 2 company are:
- Sell absolutely every day.
- Develop, without fail, three employee leaders to be responsible, accountable and proactive.
- Create a daily, weekly and monthly “key indicator” instrument panel.
- Communicate any and all directions in writing.
- Drive small action teams to hit goals.
All of ACT One’s programs are designed to focus on your stage of growth. If you are a Stage 2 company, we can provide you with the top five challenges for your stage of growth. We can get you focused on the “rules of the road” for a company with 11 – 19 employees. And we can help you get ready for the day you add that next employee and jump into the next stage of growth.