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Want to grow your business? Plan a bank raid!

Want to grow your business, but are not very clear about how to do it?.

Do you remember why you went into business in the first place?

  • You had a passion for what you do

and you wanted

  • freedom to be master of your own destiny
  • to earn a good living
  • to be able to work the hours you wanted to
  • less stress than you had before

How many of the above have you ticked as reasons why you set up your business?

Now, looking at the last four how many of them are actually true? Are any of them not happening because it’s just you and you don’t know how to get your business beyond where you are?
In recent months I’ve been trying to work on how to help businesses get through this block to help them grow. My research has lead me to two experts who come at the issue from different angles, but share overlapping solutions that I’d like to share and which may help.

The first is Michael Gerber and his book – The E-Myth Revisited

It’s an excellent book for small businesses looking to grow and I highly recommend it

And the other is Daniel Priestley of The Key Person of Influence organisation. He’s written a number of books on business growth and this one is worth a read – Key Person of Influence by Daniel Priestley

The difficulties of growing a business

Michael Gerber states that whilst an individual understands the technical work of their business, it’s a myth that they can successfully run a business.

As a result and as Daniel Priestley highlights – 70% of small business owners get stuck in the ‘struggle zone’ where they never get beyond being the sole owner. And its defining characteristics are that the owner has little money or low revenue, next to no time and has very high levels of stress.

Are you nodding your head at this moment and agreeing?

Grow your businessSource: http://www.keypersonofinfluence.com/kpi-method/

I was at an evening seminar at which he explained this graph in detail.  I asked the question about how you get out of this struggle zone as to my mind it’s the key challenge for any small business. They want to grow, but they just don’t know how.

To which he replied that it was the biggest challenge and the way out is to plan a bank raid.

It made so much sense, so this is how you do it.

Planning a bank raid methodology for business growth

When planning a bank raid, it’s vital to get the right team together. So you have the mastermind with the vision and who gets the team together, the ops expert who plans all the logistics for the raid, the safe cracker who knows how to break the codes to get to the moolah, the explosives expert who knows how to get into the bank (without attracting too much attention!), the getaway driver to help them escape the scene of the crime and the money launderer who knows how to deal with all the money afterwards.

And this is exactly what you need to do to grow your business. No not do an actual bank raid – that’s illegal. But you, as the mastermind, need to put together a crack team that has specific roles or areas of expertise to help you with your business.

It’s still a challenge because you’ve got insufficient money to hire a team of experts.

It’s about finding people who are willing to come on the journey with you and are prepared to take the financial risks (get paid less) with you because they can see the glittering future.

Here’s a lighthearted video summarising this:

Franchise model for business growth

Which brings me neatly to Michael Gerber who builds on this logic.

Many small business owners set up without thinking about the future of their business.

He says the starting point should be to ask where you see your business five years down the line.

And having determined that, you work towards achieving that from the very outset.

He uses the franchise model as method by which you achieve it. A franchise provides an operating manual on every aspect of running a business which enables someone who’s never done it before to be trained using the ‘system’ and to run the business.  If you take McDonalds as an example of how to do it. You can go to any McDonalds in the world and you’ll know you’re there. From the branding, to the food (excepting some small regional variances), to how the staff are dressed, to how they serve you, to how the food is prepared and on and on.  Every detail of running that business is documented in their operations’ manual.

How to do it

  1. Create a company structure

    Every small business that’s looking to grow should have a company structure. It doesn’t matter that it’s just you – you work out what your company structure will look like

A really simple top level structure could look like this:

Grow your business

  1. Write job descriptions

    Write a job description for each role.

  2. Document all your processes

    Do this for each job in detail such that you can train someone else to do them using these.

  3. Recruit

    Once you have the above sorted and you’ve honed your processes – you can look to recruit.
    When you recruit though he recommends you don’t get the experts in helping you to keep your costs down. In fact he actively discourages this.

    He says you need to employ people who share your passion for your business and buy in to your vision first and foremost. And then you train them in how to do the jobs how you want them and encourage a continuous improvement mindset.

 In summary

  • Growing your business is hard, but you can do it
  • Plan your growth as if you were planning a bank raid – get the right team roles
  • Look for like-minded people who want to come on the journey with you
  • Structure your company now like how you want it to be in the future to achieve all the things you wanted to do when you first started out running your business.
  • Identify all the roles
  • Document the process and systems for all aspects of your business
  • Hire people who share your vision – you can train the rest

If all this sounds exciting but you’re not sure how to do get started or you don’t have the time, let me help you grow your business.

This is how to contact me:

You can either book a 30 minute appointment call with me to see how we may be able to work together to help you grow your business – http://bit.ly/30minutecall

Or contact me via the website – https://thechameleonguide.com/contact/

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About the Author:

About Karen Espley, blogging for The Chameleon GuideKaren Espley of The Chameleon Guide works with ambitious small business owners on her Profit Accelerator Programme. She brings pragmatic and real world advice in a group setting to help her clients make a significant difference to their business through increasing profits and running a highly effective business.

Offering workshops and group profit programmes for companies wanting to reach their full potential.