As a business leader, you’re focused on growth! Growing your business, taking it to the next level, hiring more staff, and improving your profitability. While this growth focus is great, as the world hits a recession, is this the best approach to look after what you’ve built?
Who is Your Priority?
One of the biggest downfalls of businesses is when they start to do well. As often, when businesses start to do well, founders start to focus more on themselves and less on the business. They often spend money and live less leanly than before.
This is one of the biggest causes of a business to go from success to failure, their leaders change their priorities.
Focus On the Business
To keep the business safe and continually growing, you need to make your business a priority! Live leanly and focus on growth.
Here are some tips, to look after your business:
- Focus on growth!
- Look for learnings in every situation.
- Don’t dwell on past failures.
As a leader you need to be asking yourself, “Am I looking enough at the corporation?”. If the answer is no, then you have some changes to make.
There is a saying that if a business doesn’t bother to clean the outside of their building, they will not be around for long. Why? Because if you don’t clean the outside, will you clean the inside?
Make sure you know what is going on in your business, and that your house is clean.
The Entropy Theory is a theory that originated in thermodynamics but has since shown to be useful in business. The theory suggests that the most successful businesses are those that keep growing and evolving even when the world around them gets more chaotic. Those businesses focus on embracing the chaos and using it to make them stronger, riding the wave until calmer waters arrive.
As a leader, your business starts and ends with you. You need to build a culture of growth and improvement, even when the surrounding world is filled with chaos. This growth focused approach is the best way to protect your business in the long run.