Episode 13: Fueling Next Level Growth
You’re past the startup phase and now it’s time to shift into high gear. So why are you still functioning and making decisions as if you’re in startup mode? Many high growth companies end up stalling out because they remain stuck in startup mode. There are a variety of factors that keep entrepreneurs from growth from the mental to the financial. What they often lack is solid strategy and execution. At each level, there are new requirements that replace previous requirements. What worked when you began may not work in year two or year five, or even year 10. So what’s holding you back from growth?
Well today it’s all about the strategy, baby. Today’s topic is all about making that transition from startup to focusing on long term growth strategies and the importance of conscious awareness of each level of growth. My guest and I will talk about some of the roadblocks to growth, how to condition your mind (and your team) for growth, address some tips about handling growth at different levels and helping you set your path to rewarding growth for your business.
Listen live or catch the podcast replay below.
Originally aired October 20, 2017
Janis has been helping companies innovate, create and quickly launch new businesses for more than 25 years. First, through her own company, which focused on helping high tech startups, and then later advising and funding new financial service companies.
Janis’s 3 Tips
- Focus on where you’re going. You have to have a clear direction of where you’re going. Articulate that direction to you team, professional advisors, investors, vendors and other key stakeholders. It’s important that your customers also understand. When everyone’s on the same page, it’s easier to achieve your objectives.
- Set metrics to measure how you’re doing. You can’t understand where you need to make changes if you’re not measuring your metrics. You should not just be measuring how much money you’re making, but also customer satisfaction, costs of production/manufacturing, turn over rates, employee performance and growth milestones. Your metrics will help you identify problem areas and show you where you’re going.
- Don’t slack on the execution! Don’t be the type to talk about it. You can make plans, but if you don’t execute you won’t achieve much of anything. Building the right team is crucial to the execution. You should make sure to get people who understand the vision and have the capabilities to bring it to fruition.
In the News
Lyft Is Said to Explore I.P.O. as It Raises $1 Billion Led by Alphabet- https://www.nytimes.com/2017/10/19/technology/lyft-capitalg-alphabet.html
Europe’s Fastest-Growing Economy Could Be Headed for Trouble– https://www.nytimes.com/2017/10/18/business/europe-economy-romania.html
Some Famously Efficient Japanese Manufacturers Are Now Lying to Compete– https://www.bloomberg.com/news/articles/2017-10-19/some-famously-efficient-japanese-manufacturers-are-now-lying-to-compete
PayPal: After The Earnings Beat, CEO Talks Venmo’s Growth and More– http://www.barrons.com/articles/paypal-after-the-earnings-beat-ceo-talks-venmos-growth-and-more-1508462495?mod=hp_highlight_2&
Cyber threat is huge for small businesses– https://www.usatoday.com/story/money/columnist/strauss/2017/10/20/cyber-threat-huge-small-businesses/782716001/
An Analysis of the House GOP Tax Plan– http://www.taxpolicycenter.org/publications/analysis-house-gop-tax-plan/full
Well, we’ve all heard about it. The administration’s Tax Plan has been making the rounds in the news. Everyone has an opinion on what it means to the people of the United States and the businesses therein. Opinions are widely available and there’s even commentary on the white house website. But it’s best to take the time to read it for yourself. Since we never know who to believe when these bills are put forward, we must do our own due diligence and read everything for ourselves. And if you can’t read it yourself, get a tax expert who can, and then disseminate the information for you. It is important that we all understand how this plan affects us personally and in business, now and in the future.
Mogul Chix Academy will begin the Fall 2017 class on October 25, 2017. If you want to increase profitability, find additional revenue streams, pinpoint ideal customers, build a strong team, streamline operations, position your business for growth and scale, attract the attention of investors, learn how to protect your assets, close more deals, align with the right people to help you grow, and build a generational legacy, then you need to register. The academy runs 26 weeks and it’s very hands on. Registration information is available at www.mogulchixacademy.com.
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Adrienne Graham is the Founder of Mogul Chix (www.mogulchix.com), a global company and community for female founders and women entrepreneurs. She works with female-founded companies to grow, scale & making them investment ready. She is a growth strategist for high growth companies. She provides Strategic Business Growth consulting services to companies with high growth potential to assist clients in creating processes and strategies to effectively scale, run, grow and position their business for success. Adrienne is an author, serial entrepreneur and avid techie dedicated to promoting inclusive diversity in the tech, VC and startup community. She is steadily building her empire one company at a time. She is also a Mentor for the Straight Shot Accelerator in Omaha, NE, which helps guide startups into successfully launched ventures.