I’ve been managing a portfolio of 6 companies for the past year, and I’ve learned a thing or two about what it takes to grow a company from the ground up.
Something that you’re doing right now!
Here’s the lowdown on what I’ve learned:
Leadership is key
Companies with strong leadership will ALWAYS scale farther & faster than their competitors. The rise or fall of a business in this recession was almost exclusively dependent on the strength of leadership.
Psst! That’s YOU.
Corporate lessons matter
I know, I know… Entrepreneurialism & the corporate world are kind of at odds.
But past corporate experiences play a crucial role in building and growing companies.
The strategies I learned managing a portfolio in corporate are surprisingly applicable to my diverse range of businesses now.
SO – don’t quit everything about your day job, you can actually translate a LOT of those strategies into your new business.
It’s about people
Your team is your greatest asset.
Understand their goals, aspirations, and dreams. Regularly cast the vision, reignite their passion, and connect their personal goals with the company’s success.
By fostering a culture of mentorship, focusing on team visibility, & consistently inspiring them with the company’s vision, you can turn your team’s expense into an investment.
Cultivate a spirit of mentorship
Stop looking at everything as transactional & start INSPIRING your people to work hard for you.
Invest in your team’s skill set, mindset, and overall growth. A true spirit of mentorship can elevate performance and drive impactful results.
Daily focus on driving profits
Ensure a dollar-every-day mentality.
You should communicate and instill a focus on daily contributions to the company’s revenue. Cultivate a culture where every team member understands their role in bringing dollars in the door.
Optimize your marketing-facing time
Audit your team’s time management.
Make sure a significant portion (85% or more) is spent on client-facing, market-facing, or prospect-facing activities.
Remember – this is YOUR business.
YOU have the power to steer your ship.
Lead effectively, and watch your team achieve extraordinary results.
You’ve got this.