Grow Great - A City Government Leadership Podcast

Grow Great - A City Government Leadership Podcast


TPA5037 – Putting Your Company In The Best Position For Success

March 08, 2018

As the owner you’re the #1. And you wouldn’t have it any other way.  But sometimes you don’t treat yourself like you’re the #1.
Every business owner has one basic – but very big – job: to obtain and deploy the necessary resources to make the company successful. That’s why you invest in the things you do. You believe they’ll garner a return. Some will get a big return. Others, not so much. Sometimes you have a pretty good idea of the return you’ll get on something. Other times you don’t, so you hope they’ll pan out like you want. 
As a young man I once overheard an owner tell a VP supplier who was critical of how he was doing things, “You know the difference between you and me? I’m betting with my money that I’m right.” I smiled. So true. That’s what we do as business owners. We bet on ourselves. We bet on our people. We bet on our ideas and our decisions.
Watch any episode of Shark Tank and you’ll see what the venture capital community has long understood – folks who make their living betting on businesses. They bet on the jockey, not the horse. That means the idea is sometimes far less important than the person behind it. 
In similar fashion, I’m betting on you and I’m asking for you to bet on yourself. As you’re considering all the resources at your disposal and how you can best deploy them, I have a big question. 
Are you an asset or a liability?
Are you an opportunity for the company, or a constraint – a limitation and restriction?
The truth is, you own the joint. And according to the SBA there are 99.7% of you out there – small business owners. And almost 90% of you employ fewer than 20 people. That’s a tremendously large group of people who represent a monumental economic impact on our communities and our country. 
You’re a resource. I’d argue that you are the most important resource in your organization by virtue of the fact that you own it, and you operate it. The buck stops with you in more ways than you may realize. 
When you hire a new employee I sure hope you don’t just welcome them, then leave them alone. I hope you provide some sort of onboarding and training. I hope you put them with more seasoned employees who can show them a thing or three. I hope you surround them with people and resources so they can succeed in their new job at your company. And even if you don’t always do those things as well as you know you’d like, you know you should. You know it’s the smart way to go to help your company move forward. 
I get it. Fires erupt. They foil your plans to do good – or better – work. Stuff happens, right? 
While stuff is happening you’re neglecting your biggest resource. While you’re busy putting out the fires that must be extinguished, you become just a bit more distracted from deploying the biggest resource that’s vital to your company’s success.
YOU.
You take whatever time you want to look over the details of a lease agreement, or a purchase agreement for inventory, or in vetting a new employee. You pay attention to the things that you know can contribute to helping your company grow. You also know from experience that what I call the trifecta of business building encompasses all the work you do as a business builder and owner.

* Getting new customers
* Serving existing customers better
* Not going crazy in the process

It’s about sales. It’s about executing delivery of your products or services to the customers. It’s about the systems and processes necessary so much of the work can reliably happen on auto-pilot without you losing your mind. This is your life.
All this time and attention spent in important areas so yo...