Are you green and growing, or brown and dying?
A business cannot grow beyond the competence level of its owner. So if you intend to grow the business this year, how are you going to grow yourself?
Oftentimes I come across business owners who share with me that they are facing difficulties in their business, sales have become a challenge, profitability is shrinking and business is stagnating etc. My question to such businessmen is: "What have you done lately to grow yourself, your knowledge, capability and skills?". Most times their response is a blank stare of confusion and disbelief that I would ask such a question.
My understanding is that when a business is stagnating and not progressing, it is most likely that the leadership in the business is not growing. I believe that "a business cannot grow beyond the competence level of the owner". Businesses grow when their leaders are working towards their own growth of knowledge, skills and capabilities.
This is one of the reasons why we see rapid growth in startups and new businesses as the founders are focused continuously on working on new ideas, exploring new markets, learning new strategies and upskilling themselves in all aspects of business. Unfortunately, as the businesses mature over time, the owners get into the comfort of routine and managing the daily whirlwind of the business. Soon enough, things slow down and hit a plateau and then the business owners wonder why there isn't any growth. The truth is that the investment of time and money by a business owner in their own growth and learning is directly proportional to the growth and success of their business. Additionally, when the owners are oriented around learning and upskilling themselves, their team also tends to be growth oriented which has a compounding effect for the business.
The reality is that businesses (like trees) need to be in a continuous mode of growth. The moment growth stops, the business is starting to wither and die under the burden of rising costs and shrinking profitability. And for businesses to continuously grow, the owners have to continuously grow their knowledge and skills and increase their competence levels.
So if you intend to grow your business this year, how are you going to grow yourself? Are you green and growing, or brown and dying?