Small Business owners fill multiple roles in their operations, but it is important to realize that success doesn’t come in a vacuum. As a business owner it is your responsibility to be aware of key roles necessary for business success and to choose the people who will be most able to support and assist you on the journey.
A client recently came to me because her business had hit a plateau and was not progressing past a certain level no matter how she tried to move it forward. She had been in business for about 2 years and her company had grown steadily until a few months ago. Her client relationships were excellent, so she couldn’t understand why her monthly sales numbers were not climbing.
During our sessions we came up with some questions for my client to ask herself. This self-assessment opened her eyes to some surprising information about herself and her business. Some of the questions we asked were:
- Why did you target this particular market?
- How did you arrive at your pricing?
- What about your company has changed in terms of things like capabilities, services and expenses?
- How have you incorporated your new capabilities into your message?
- What has been the response of your existing clients to the changes?
She had been so focused on working that she hadn’t realized it was time to hand off functions so she could spend her time doing what she does best, providing her clients with an excellent service. It was time for her to expand and add team members to help deliver her message.
The addition of a professional marketing company to produce new collateral material that told a more up-to-date story of her company capabilities provided a great tool for bringing in new clients and more business from existing clients. As a result, her revenues have expanded and margins have increased. She has also acquired new clients, a new team member and bookkeeper.
Naturally, how you build your team depends on many factors, including capital resources, projected revenue and margins. A thorough look at who is on (or Not on) your team is an important step in the growth of your business. So you have to stop and ask yourself, Who is on your team?