Business growth status quo happens. When you take your eye off the top and bottom lines because things appear to be going well. Or, are they? Really?
After all, your business has a pipeline full of repeat business. At least, that is what your sales team tells you. Except that new customer acquisition is, well, flat or nonexistent.
And cash flow appears to be flowing, which means that customers are paying invoices on time. Or, are they? Really?
Then, your people appear to be very busy, filling up their days looking, well, very busy. Doing their jobs. In fact, only doing their specific jobs.
In actuality, your business growth cup is half full. Congratulations! You excel at reinforcing your business growth status quo scenario. Here’s why and how.
In my experience working with clients stuck in business growth status quo, hiring practices are the key culprits in reinforcing comfortable complacency.
- Overall, complacent companies mistake siloed stakeholder activity for productive profitability. Over time, stakeholders become very busy, working full-time, at half the capacity of what is possible.
- While the company targets winning new customers and more complex projects, current employees lack the capabilities to execute these types of deals.
- Also, the HR function continues to hire new employees based on the same, outdated specifications and pay scale which worked in the past. So, they hire more of the same-old types of employees: order-takers, rather than innovators.
- With a stable and loyal customer base full of repeat projects, sales assets gradually lose the capabilities needed to win new deals with new customers. Like those outdated hiring practices, outdated selling worked in the past. So why try to hire “new” customers?
- Then, management and leadership are focused on the “appearance” of steady business growth. Everything still looks pretty good on paper. Yet profit and loss calculations are too simple and naïve. Why not take a more frequent and forensic look at cash flow dynamics?
Do any of these scenarios sound like your own business growth status quo? Then, let’s fill up your business growth glass. Here’s how.
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Babette Ten Haken brings her One Millimeter Mindset™ speaking programs and workshops to organizations and associations, like yours, who want to leverage collaborative business models and profitable workforces to retain the customers you work so hard to win. Her programs catalyze communication and collaboration between disparate or siloed groups, especially in industries with technically-focused stakeholders.
She is a member of SME, ASQ, SHRM and the National Speakers Association. Her playbook of communication hacks, Do YOU Mean Business? is available on Amazon.com. Babette’s speaker profile is on the espeakers platform.
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