Strength to strength: How to build a bigger business
Leading business coaches explain the ways a company can grow in latest Australian Conveyancer podcast.
MANY small businesses, like conveyancing, dream of becoming BIG businesses but the challenges are considerable.
Owners might know what needs to be done – but how do they find the time, on top of their normal workload?
It’s a question addressed in Australian Conveyancer’s Strength to Strength podcast.
Hosted by TV presenter and journalist Amber Sherlock, it features leading business coaches Anna Samios, from Performance 7, and Louise Connor, from Corporate Edge.
“A lot of people have a dream to build a bigger business but then get stuck,” Anna said in the podcast.
“It’s how do we actually do that in a step-by-step process that doesn’t burn everybody out?”
Anna and Louise agree it’s vital to assemble a team, even as few as two or three like-minded people, with defined roles and goals.
Instead of YOU making every decision, let THEM get on with the job.
Thus, says Louise, “we start to get a whole community of leaders because everyone’s aligned and on the same page”.
Delegate. Resist the urge to say “oh, I’ll do it myself. It’ll be quicker”.
This leads to overwork and a team left twiddling their thumbs.
“Your team is bored,” said Louise, “because you’re the one doing all the work: weekends, nights, early mornings.”
Anna agrees a change of mindset is needed.
“It’s time for us to slow down and teach someone else, pay it forward,” she said.
Doing it all yourself is not scalable and no way to grow a business.
Look at your operation through the eyes of a buyer.
“Am I buying a business or am I buying one personality?” Anna asked. “And what is the risk when that person leaves?”
They urge owners to assume the role of CEO: give the orders, guide and mentor where necessary.
“So you’re conducting, as opposed to being in the choir,” Louise said.
Anna’s a fan of BHAG: having a Big Hairy Audacious Goal, with emphasis on Audacious.
Think big, dream big, plan big. It’s like putting a man on the moon.
Once the goal is identified, reverse engineer to the starting point and the path becomes clear.
“You put it on paper, you commit to it and somehow the universe brings it to life,” Anna said.
There’s lots more good, practical advice in Strength to Strength. Check it out at australianconveyancer.com.au and navigate to podcasts.
