3 Reasons Your Business is Stagnant And how to recover.

Business growth typically isn’t a linear trajectory. There are many ups and downs, and oftentimes we may even find our growth stagnant. So today, I wanted to share with you three reasons why your business growth might be at a stand still and discuss ways that you can get things moving in the right direction again.

A Lack of Strategic Depth

I was recently talking with one of our clients who had one of their key team members fell in love and quit suddenly to move to Fiji. Which left our client short staffed. And while they were genuinely happy for the person, because let’s be honest, you can’t compete with love in Fiji, it did leave them in a bit of a tough spot in the business.

And as anyone who has been in a similar situation knows, losing a key team member can really slow down your growth. Especially if you lack strategic depth. Strategic depth is the measurement of how much cross training your team has.

With a little bit of foresight, my client could easily train several other members of their team to do the missing person’s responsibilities. And do the same for every position within the company, including their own. Which makes your business not only vacation proof, but also love in Fiji proof.

Poor Systems and Controls

Poor systems and controls are another reason your business may become stagnant. Having documented processes, procedures and tools to help your team complete tasks in another’s absence is crucial to keeping the momentum going.

Having documented best practices and tools will increase your company’s efficiency, reduce costly mistakes and make your business more scalable.

This could include the checklists your operations manager follows when working with a new client, the orientation process you use to onboard all new hires, the sequential process for producing your core product or service and the automated e-mail sequence that goes out to each new prospect.

Basically, business systems include any essential company know-how that you have captured in a tangible format as opposed to information locked in the brain of an individual team member.

Not Enough Leadership Attention

And the final thing that can cause your business to become stagnant is the lack of leadership attention. Not having a good action plan and failing to focus your best time, energy and resources towards completing your company goals can cause you to drift and lose focus on your goals.

You can combat this issue by not only putting down your goals on paper, but meeting with your team regularly to review those goals, looking at your progress and working together to overcome any hurdles or issues.

The good news is, that despite the occasional dip or stagnant trend in your business, it is recoverable. By focusing on cross training, strategic depth, systems and controls and leadership buy-in, you can be well on your way to scalability and growth.


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