Many entrepreneurs struggle with a disciplined approach – putting in place the things that bring order to the business and that turn sales revenue into bottom line performance
So what are the things that high growth companies need to have in place? Is it just a matter of buying the right IT equipment? Or of appointing an “Operations Manager”? Well it’s not quite that simple (although buying the right IT equipment and finding a good Operations Manager may not be that simple).
In our experience there are some really key things that need to be in place whether you are a manufacturer or a service provider or whatever type of business you have set up – if you are to reap the rewards. If you don’t put these things in place then quite simply you will be busy fools – a huge amount of time, effort and emotion expended day after day and for what? When you decide you want to sell your business, you need a track record of profit – not just of sales – and increasingly to demonstrate to a potential acquirer that you have the systems and disciplines in place that will enable the business to continue to perform long after you have said your goodbyes.
You need the following to be in place:
- measurement and control
- organised chaos
- be lean, stay lean
- re-crank the handle
- use everyone’s brains
- treasure your cash and financing growth
- review and evaluate
- delegate and develop
- protect your crown jewels
- use IT
- play by the rules
Blog written by Winning Pitch, who are a lead delivery partner for the Excelerator Consortium that manages the Business Wales Accelerated Growth Programme.
Details of the Programme can be found on the Accelerated Growth Programme website.