Where is your company at? Are you achieving your potential? Are you meeting your goals? Are you building the dream home that I talked about before or are you building a condo? Think about it for a moment and answer that question honestly to yourself.
The fact of the matter is that most business owners with don’t know, or refuse to recognize the reality of where their company is at. Which is part of the reason that 96/100 business fail in the first 5 years. Knowing where your company is at, will help you be able to set realistic goals and keep you in the 4% of business that succeed.
At Three Page, we have a tool that helps you judge that. It is called the 3 Stages Of Business Growth. I will give you a brief overview of them.
STAGE 1: Get More Customer and Cash Flow
A company in this stage has 2 main goals ahead of them. #1. Get more customers in door. #2. Obtain and maintain a solid cash flow. Here are some questions to ask yourself to determine if you are in the stage:
1. With the amount of customers I currently have, am I achieving my forecast?
2. Am I profitable, or am I turning dollars?
(By turning dollars I mean.. Money in –Money Out)
3. Is all of the predicted income spent before I even get it?
STAGE 2: Systems
A company in this stage, answered “no” to the questions above and is now starting, or has already implemented, systems in their company. These systems are designed to make your company operate at top potential, both fast and efficiently as well as expand the company in various ways. Such as, production line, another locations, services offered..etc.
STAGE 3: Succession
A company in the stage now has the ability to basically run itself. You as an owner can start planning you successor, whether it is in house or an outside sale. At this point, your company has plenty profitable and is worth more that it has ever been before.
So again I ask, Where is your company at? If you are still unsure, then a Three Page Advisor can help you figure that out
Over the next few months, I am going to talk about the 7 biggest communication mistakes that companies make. As you read and study these, I challenge you to make sure that you are not making any of these mistakes yourself. Communication is a one of the biggest tools to advancing your company through the 3 Stages Of Business Growth.