YOU ARE IN THE
PRODUCE/ SYSTEMATIZE
PHASE
Now that you’ve figured out how to effectively create value and have established a rhythm and process, this phase of your business is all about systematizing and establishing core leaders so you can grow. Having a solid foundation of systems and leaders is going to be critical as you expand your business into new areas.
THIS LOOKS LIKE…
Now, your business has found its feet. You've got a steady flow of customers, and your revenue is becoming more reliable. This is the stage where your business model is proven, and you're looking to expand your reach. You might be considering hiring more staff, exploring new marketing strategies, or even expanding your product line. Funding might come from profits, small business loans, or continued investor support. It's all about growing sustainably and strengthening your market position.
In the "Systematize" stage, your business is truly coming into its own, marking a pivotal shift towards operational excellence. As your company flourishes, there's an evident need to instill structure and uniformity across operations. This stage is characterized by the deliberate development of internal processes, ensuring that every procedure, from onboarding to daily tasks, is streamlined and predictable. A notable hallmark of this phase is the introduction of standardized training methodologies and the integration of advanced technological tools. This not only optimizes operations but also guarantees a consistent level of service or product delivery. Recognizing the importance of specialized knowledge, you'll find an influx of skilled hires tailored to address specific needs. Moreover, to further fortify this framework, there's a potential implementation of software tools for managing personnel, workloads, and budgets. This strategic evolution is fundamentally about fostering scalability. It's a commendable move away from over-reliance on a handful of individuals, positioning your business for sustainable, robust growth.
Key focus in this phase:
Structural Energy: Creating robust systems for operational consistency.
Technology Integration: Implementing tools for optimization.
Training and Development: Building a well-informed, skilled workforce.
Scalability Focus: Setting up the business for growth without hiccups.
SOME CHALLENGES YOU
MAY BE FACING…
You’re maturing your team.
You’re mostly likely navigating the transition from a small, close-knit team to a more formal organizational structure. Navigating the interpersonal and professional changes between people in your company can be challenging.
Synchronizing work across teams
Establishing team alignment can be challenging, especially in setting clear role expectations. Team communication can be challenging to work through especially when you are trying to systematize that process.
Working the bugs out of the process
Balancing the financial, operational, and environmental aspects of your business, while innovating and expanding into new markets, is a complex and emotional journey. Understanding the ever-changing market dynamics and customer preferences can feel overwhelming, as you constantly adjust your business strategies to stay ahead.
Building better customer acquisition
Attracting and retaining customers in a competitive market while maximizing their lifetime value is a significant and relatable challenge for any business owner. Diversifying marketing efforts across new platforms and deriving actionable insights from customer feedback can be equally daunting.
WAYS TO ACQUIRE MONEY
AT THIS PHASE
Capital generation looks at various methods that businesses use to secure financial resources, crucial for operations, growth, and innovation. Here is what capturing capital looks like at your phase and what methods businesses your size typically utilize.
Private Equity
Attracting funding from private equity firms for substantial growth.
Vertical Integration
Building resources that acquire more of your main business pipeline.
Larger Distribution Partners
Partnering with companies to enhance reach and share resources.
IDEAL LEADER PROFILE
Different phases of a company are better served by certain leadership styles. You ideal leadership profile for this phase is…
SELLER
As a business owner, adopting the Seller leadership style means harnessing charisma and communication skills to motivate and unite your team. This approach is centered on your ability to articulate an engaging vision and create a dynamic, forward-thinking team environment. Boosting team commitment and job satisfaction through , mentorship, guiding both personal and professional development. Balancing this vision-centric approach with meticulous attention to operational details and structured execution is crucial for your business's day-to-day success. In practice, the Seller style shines when complemented by a team that brings detail-oriented, self-motivated, and strategic thinking to the table. This ensures that your broad, visionary goals are translated into practical, achievable plans. Striking a balance between your inspirational influence and hands-on, pragmatic leadership will effectively transform your vision into tangible results, fostering the growth and success of your business.
YOUR NEXT PHASE IS…
PRODUCE/ MULTIPLICATION
In the upcoming 'Multiplication' phase, you'll shift from a significant market presence to an industry powerhouse. With a solid team and diverse products, you're set to scale up. This phase marks your entry into new markets and verticals, possibly even internationally, while your company structure evolves with multiple departments and middle management.
Think exponential growth. Beyond enhancing your current market position, you'll widen your reach with new product lines and sectors. Horizontal expansion means tapping into new industries, and vertical expansion involves deeper control of your supply chain.
Your focus should be on solidifying processes, embracing technology, and considering larger-scale funding like private equity. This isn't just growth; it's a strategic multiplication of your business's impact and reach. Your past successes are not merely achievements but the foundation for your ambitious future.
Key focus in this phase:
Expansion Energy: Driving both vertical and horizontal growth.
Strategic Alliances: Forming partnerships to bolster market presence.
Diversification: Exploring new markets and product lines.
Visionary Leadership: Setting ambitious goals for the future.
SOME SOLUTIONS THAT MAY HELP…
Clarity is kindness
Empower your core leaders by transitioning them into formal roles as team leads or department heads, ensuring a streamlined and effective management structure. Begin comprehensive fiscal literacy training to maintain high financial standards across all departments, reinforcing the importance of aligning with your company's goals and resources.
Build better human collaboration
Introduce a team alignment process and robust workload management tools in your business, ensuring clarity in roles and streamlining communication for maximum efficiency. Embrace task tracking and scoping systems to optimize task management and enhance your team's productivity.
Customer driven innovation
Harness the power of market research and customer feedback to refine and innovate your products/services, ensuring they resonate with evolving market needs. Your strategic agility in balancing financial and social objectives will be key in navigating market shifts and seizing new opportunities.
Cast a wider net
Diversify your marketing across more channels and create a clear marketing rhythm based on your seasonality curve. Increase your marketing opportunities by incentivizing partnerships and affiliates to be able to sell for you.
Go through the full GRM to unlock more detailed and specific solutions for your business.
in your next phase
WAYS TO ACQUIRE MONEY
These are some of the methods of capital generation you would most likely use at in your next phase of business.
Mezzanine Financing
Combining subordinated debt with equity financing to raise capital.
Wide Reach Marketing
Broadening brand visibility through strategic advertising investments.
Horizontal Integration
Integrating with firms at the same production stage to enhance capacity.
ECA Financing
Utilizing government agency loans to facilitate exporting activities.
Mergers & Acquisitions
Buying or merging with firms to diversify or increase market share.
Globalization & Optimization
Expanding and refining operations across international markets.
Next Phase
IDEAL LEADER PROFILE
Different phases of a company are better served by certain leadership styles. You ideal leadership profile for this phase is…
Facilitator
The Facilitator leadership style is defined by its emphasis on collaboration, active participation, and team empowerment as their core method of motivating the company. This approach thrives in environments where teamwork and collective engagement are key. Facilitators excel in nurturing team cohesion and fostering an atmosphere of mutual support and growth. Their primary skill-set is knowing how to balance between giving direction and allowing skilled people on their team to set direction. They skillfully guide team interactions and decision-making processes, encouraging members to take initiative and contribute actively. Effectively, they practice building leaders under them that manage the majority of day-to-day operations. This usually looks like building the structure necessary for individual teams and leaders to move fast and make effective decisions. They focus on building an environment where highly competent individual contributors have everything they need to collaborate and do great jobs. They are skilled at taking on the role of “Seller & Driver” when the circumstance calls for it and they also know how to develop effective Drivers & Sellers.
Unlock your future with a
GROWTH READINESS MAP
The Growth Readiness Mapping (GRM) is a powerful diagnostic tool that provides business owners with a comprehensive view of their operations and the opportunity to unlock their full potential. With the GRM, you will have a clear understanding of what steps you need to take to grow your business and achieve your goals. Whether you're looking to expand your business, increase revenue, or improve overall operations, the GRM is the tool you need to get there.