Do you have a grip on your business, or does it have a grip on you? If you’ve been in business a while, you may have reached the point where you’ve “hit a wall” when it comes to profit or direction or growth. Signs of that include frustration, revenue or profit issues and stagnation (lack of growth).
Many construction business owners struggle with how to make their companies the best they can be.
To achieve that, following are some suggestions:
- Align the company completely with the people who work there. Everyone should be on the same page and working toward a common goal.
- Collaborate on your company’s long-range plan. Get opinions and buy-in on different areas of focus.
- Improve accountability. If someone isn’t accountable for each component of your business goals, you’re not likely to achieve them.
- Encourage self-discipline. Employees should be able to be trusted to achieve their part in the overall company goal(s).
- Foster a healthy culture. Your company’s identity involves your people and the features that set your company apart from the competition.
Business owners who start a business do so for a reason. It may be time to remind yourself of that purpose. It may not be easy, but set aside time for thinking about how your original plan has come together. Don’t forget to evaluate your part in the business. For instance, how would you like things to change in relation to your personal life.
Focus on these components of your business:
- Vision: Look at your business from a vision standpoint. What is your overall goal? What is the compass by which you measure success?
- Roles: Consider your people and their roles within the company. Their personality needs to fit with the culture. Clarify and simplify when you can. The result of improving every employee’s role will be to improve the culture of the company.
- Accountability: Structure your business for maximum accountability. Everyone should be responsible for something that keeps the company moving toward its goals.
- Data: Look at your data, and track what’s happening. What numbers are important to your goals?
- Process: Consider your processes. Many companies have unnecessarily complicated business workflows. Uncomplicate them when you can.
- Tools: Decide what tools are essential for your company to achieve its goals. Reduce clutter.
As you get a grip on your business, you’ll be working through all its layers. Take time to implement changes first with your leadership team before involving the rest of the company. You will be impacting and changing the culture and mindset of your company. Your leaders need to buy into it before it’s rolled out to the entire company. Prove you believe in it, so others can catch your vision. Above all, lead by example.
Communicating your vision and getting buy-in may involve individual coaching on the executive side. You may need to work through some difficult conversations. Set the right expectations, and be sure to periodically check on progress. Make sure your people feel like they are making a difference.
Tune in to episode 129 of Bridging the Gap Podcast, where Mel Towey describes her company’s work with owners trying to get a grip on their business.