Growing, Growing, Gone

Why do some companies operate for ten and 15 years and then just close their doors? You would think that after all that time, they would have gone through the struggles and all the hard spots in business, and they would have learned lessons along the way that allow them to thrive.

Last week we talked about the quick killers that will put you out of business quickly.  Today, I want to share with you the four areas of your business that, if left unattended, can really creep into the business and pull you down slowly so slowly that you don't even know it's happening.

The first one is your culture. Every business has a culture. Some are great and some are not so great. But it's your job as the leader of your company to define your culture and ensure that your culture lives up to its standards every single day.

Next is your administration. Look, there are administrative duties that we do not like doing back. It is my least favorite part of my business. But you have to make sure that your taxes are paid. Your bills are paid. But if you ignore these administrative functions or if you tweak things under the rug, they will come out at the worst possible times and they can bring your entire company down.

The next is systems. If you don't have the right systems in place too often as business owners, the systems are all up here in our head. And so we have to get those documented and followed by everybody on the team. Because if each person is operating with their own set of systems, then when somebody is gone, you don't know what to do.  So we really need to pay attention to our systems and ensure that they don't come back to bite us.

And lastly, let's talk about you. It's personal. I've talked about how business is personal. And too often we allow our business to take a position where it controls our life rather than supporting our lifestyle. Things like your family, your health, how are you able to serve in the community.  It takes away all of that stuff. And at some point it just gets too much. You just can't handle it anymore. And not only do you fall down, your business can fall down, too.

So as you're looking at your business, I want you to think about those four areas your culture, your administration, your systems, and how you fit into your business.  Look and find out if there are weaknesses. Is there something that you can focus on and improve so it doesn't catch up to you down the road? Your business is worth it and you're worth it because as you grow, your company grows. Keep growing!