Has Your Growth Engine Stalled?
Business leaders contend with a broad range of issues that they are responsible for solving. With a good team in place, many of these are often delegated with oversight at the next meeting. Others require the care and feeding that only the top person can deliver. And while all of these issues are important, only a few might be tied to the overall direction of the business or the re-shaping of the business model. Factors that lead to a business wanting to revisit its business model might include a stalled engine — their growth curve has hit a ceiling or perhaps profits have eroded due to a host of symptoms that can range from pricing pressures in a commodity market, underutilized technology and equipment, and sub-par employee engagement.
Overlay this within a marketplace that has rapidly changing customer expectations and technology levers that are unseating the “this is the way we’ve always done it” thinking, it’s no surprise that I’m seeing a growing performance chasm between those that are embracing the changes and those that are struggling with them. You can see it within the people in your business, as well as within your marketplace with other competitors. Spoiler alert — your customers see it as well.
So, what’s the answer? Unfortunately it all depends on where you are on the spectrum. I would recommend though that you begin by working carefully at dissecting the problem, really taking a deep dive into your situation. Go through the process of asking why, what, and how to begin drilling down into the key factors that identify with where you are. Make sure to include the views from the many stakeholders in your business – employees, customers, owners and shareholders, and suppliers. Until that part is done, it’s really tough to chart a path forward because you really don’t have a good baseline to start with. And please, don’t come back with the “we’re just one good sales rep away from making things better.” While increased revenue certainly helps, it can also mask the symptoms generated from the sales prevention departments, processes, and people that you might have on board.
This is a tough business, period. And standing still and watching the world go by isn’t an option either. These are some thoughts and observations that I’ve been accumulating over the last couple of months so if you have any comments or questions about tackling a stalled engine in your organization, I’d like to hear about them.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at firstname.lastname@example.org.
Mike Philie leverages his 28 years of direct industry experience in sales, sales management and executive leadership to share what’s working for companies today and how to safely transform your business. Since 2007, he has been providing consulting services to privately held printing and mailing companies across North America.
Mike provides strategy and insight to owners and CEOs in the graphic communications industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion, and helping leaders navigate change through a common sense and practical approach.