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The Good and The Bad of Growth
Of course, growth isn’t a problem. It is part of the reward for all your sacrifice, time and energy.
You have faced or are facing some harsh realities…
25% will fail in their first year of business.
Of those remaining, 36% will fold in their second year.
Of those still standing, 44% will fail in their 4th year.
And of those remaining, HALF will fail in their 5th year.
Fortunately, there are others, like you who not only survive – you build enterprises that thrive.
There are many personal stories behind those statistics. You’re already defying the odds. You have good reason for feeling proud that you’ve built a successful business with social responsibility at the heart of your business model. If you haven’t its not too late yet. Your brand needs a foundation based on what is unique about how your company does its business.
But markets change. Your success has attracted competition and now you need to put your competitive advantage to work to make your business sustainable. You’re not trying to build a huge corporation. Your vision for growth is more personal and connected to ideas of wise resource stewardship, profit that accompanies positive impacts.
Your business can be proof that a better way is possible and that doing good business can be profitable. Now the future of your company depends on wisely managing this growth phase. There are any number of problems that may have led you here. Unfortunately, the more research you do the more confused and overwhelmed you’re feeling.
Knowing the Symptoms is not the same as Understanding the Problem
A racing and luxury boat design manufacturing company had made it through the initial startup phase with contracts manufacturing small parts for larger companies. Then having gotten a lot of attention at trade events for a new patented part they would exclusively offering, the orders came pouring in. Premier boats were photographed in glossy spreads featuring this new part. The future looked bright.
This growth phase was dominated by struggling with productivity and personnel issues. Workers were running out of materials. Any progress towards successful resolution was paralyzed by blame. And the result of that was angry customers, near daily complaints, and months of back orders. Employee turnover was at an all time high, along with employee disengagement.
This led to internal sabotage that put production months behind schedule. The problem was a CEO whose mind was closed. He only considered incentive programs tied to official production quotas. An unofficial quota system had pitted the workers against management and each other.
Workers knew when materials were running low, and would put in purchase request. Altercations between the managers stalled fulfillment, forcing the whole line to shut down. Every month the accountant came looking for answers regarding customers’ unfilled orders. The front office was frustrated by daily calls from angry customers, many who had been waiting more than six months.
The CEO could see the symptoms. It was right there in the spreadsheet. But he didn’t understand the problem.
A Wise Executive Instead would have
- improved production management processes,
- repaired or improved personnel issues,
- improved employee engagement to remedy production issues
Working with small businesses and organizations across a broad range of sectors offering guidance on process management technologies WebAntiphon Group helps companies implement save the day solutions. With a background contributing to technology beta testing, research and implementation WebAntiphon helps clients avoid (costly) typical pitfalls.
With our help problems such as production tracking, supply management and employee training are improved. The changes are less overwhelming for companies like yours because of the uncommon end user tech research focus we bring. WebAntiphon’s experiences ranging from tech user interfaces, feature customization, to big data analytics and the evolution of informed consent gives the CEO and team a long view on strategy priorities.
WebAntiphon has learned working with diverse individuals in complicated situations cultivates special insights about managing and resolving conflict. Your company benefits from unique approaches based on practical relationship management experience.
The incentive rewards program that the CEO requested in this situation is then connected to participation in programs to improve employee engagement and repair damaged professional relationships. Accessing specialized network of experts to help the company make better hires. You can get assistance implementing better risk management processes.
And that was a turning point. The real value of education marketing was becoming very clear. Future success and sustainability of your business primarily depends on retaining more customers than you loose. Then new customer acquisition processes and expenses need to be managed as part of a larger strategy.
Everyone makes mistakes.
Some have consequences that can be hard to live with. Avoid making one now.
Think about what is at stake if you aren’t seeing something vital. What if a new perspective revealed exactly what you need?