THRIVING AS A BALANCED BUSINESS
Sustainable success in business requires balanced attention in more than one discipline. When I approach this topic with clients and team members, I use an analogy of a three legged bar stool. Each leg represents a key component of sustaining success; People, Sales and Profits. If these “legs” are out of balance, the bar stool will fall.
The challenge for most entrepreneurs is managing in each of these areas equally. No one person is great at, or even interested in, everything. No one person also certainly did not dream of a balanced approach to launching, sustaining and growing their own business when they came up with their “big idea.” However, paying attention to these areas in a disciplined rhythm will undoubtedly serve the mission of the business in a more predictable and scalable manner and in turn allow the “big idea” to flourish.
Typically, the leader may be naturally good at one and possibly two of the three legs. When one of the legs is short changed, the business gets out of alignment fast. Think of the people-oriented leader who builds a team without focus on costs or a plan for growth, or the leader who focuses heavily on sales without a great training plan or clarity of mission for the team members. I bet you can even think of a leader who tried to focus on profiting their way to success without regard to sustainable revenue generation or growth leadership for the team.
The point is that running a growing business takes much more than the initial dream and what stage one energy entrepreneurs naturally bring to the table. By focusing on these three legs equally, or finding a team mate to cover your deficiencies in an area, the business stands a much greater chance or realizing sustainable success.