Growing your business: The decision to change; the process of change
by Terence ShepherdAs a speaker at Cape Business Connect 2006, I will talk about “Growing Your Business: Critical Strategies to Increased Sales, Profitability and Business Value.”
At last year’s Business Connect, I provided a broad overview of “The Four Ways to Grow Your Business.” This year, we’ll drill down and provide far more depth.
We will explore the actual development and implementation of a growth plan. And we’ll share many takeaway tools to assist you in your own plans of action.
The underlying work that goes into building a successful business-growth strategy is quite encompassing; and, of course, everything can’t be covered in a two-hour session. But we will carve out four critical areas:
• Preparing the written plan
• Developing your team
• Building a customer-centric business
• Differentiating your business
Before any of these steps, however, there is a more fundamental point of departure: the actual decision to change and the process needed for that change.
First and foremost, you must make the decision to grow your business. That’s not as simple as it sounds. Wanting to growth and talking about growth doesn’t get you growth. Throughout the years, I have witnessed many business owners who talk about wanting to grow their business, but have very little to show for it.
Some make half-hearted or misguided attempts, and have ‘if only’ conversations with themselves or with whomever will listen. It seems they can never pull the trigger to make a real commitment.
Trust me: This process requires a lot of work. So don’t wish yourself into believing you can just make it happen.
Success depends on a well-thought-out plan, a personal commitment and a realistic time frame. It’s easy to find yourself engaged in a series of jumps from one new thing to another. And when one doesn’t work in a month’s time or so, it’s on to the next newest thing.
The intent to learn and improve is sincere, but the temptation is for that quick and easy fix when success requires consistent application of the business plan.
So when the inspiration hits you – and before you spend valuable time, resources and money – make sure you have sufficiently determined what it’s going to take to grow successfully.
Are you ready to commit the time?
Are you ready to commit hard dollars?
Are you ready to take a short-term hit to income, if it is necessary?
Are you ready to commit the energy?
And finally, do you have the mental discipline to stick with it, to be unwavering and allow ample time to give the plan a chance to work?
Once you are certain and can answer “yes” to these questions, there is one last thing to consider before you begin working on the plan and its implementation.
You must have a strong understanding of the process of change and the pitfalls that may lie ahead.
If you are self-employed, bringing about change will be much easier than if you employ staff. But know this: Leading change really is an art unto itself. Consider that it takes 21 days of consecutively doing something to change behavior.
So even if it’s just you as a team member of one, discipline is necessary. Now, consider what it takes when you have other team members – and everyone isn’t on board.
“Growing Your Business” not only will take you through the first steps of the decision-and-change process, but also explore the critical components and details necessary to implement a successful plan.
Originally published in the Nov/Dec 2006 issue of Cape Business
Terence Shepherd Terence J. Shepherd, CPA, MST, is Lead Partner for ROCG – Shepherd & Goldstein Consulting Group LLC. ROCG – Shepherd & Goldstein is an international consulting company to small and medium sized closely-held/family owned businesses, specializing in business transition. He is also Managing Partner of Shepherd & Goldstein LLP, business consultants and certified public accountants. Shepherd is a regular presenter of business development and customer service strategies and is the author of numerous articles focusing on finance, accounting and business issues. 
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