Self-Evident Truths of Business Growth (Part 4)

Posted In: Business News

 

The Connection Between Giving and Growthquillandinkwell

By Amy J. Malay, Director, Administrative Services

Processes. While some might feel that instructions, processes and checklists are only for “detail people,” these tools are key to reaching business goals of defect-free and on-time delivery of products or services. For example, airline pilots don’t proceed with takeoff until going over each and every item, no matter how small or seemingly insignificant, on their pre-flight checklist. In the same way, following procedures that have been thought out and implemented will minimize the chance for “crash landings” during business growth spurts.

Pace. As mentioned earlier in this series, people can only change so fast, which means that profitable growth is more likely to be in spurts or in a zigzag pattern, rather than in a continuous straight line, shooting upward. Ensuring that the right people are in the right place is essential to pacing growth. A “gas pedal approach” can keep growth moving forward without coming to a complete stop. When the changes seem to be overwhelming the team, easing the pressure a bit can allow time and space for the people and processes to catch up to all the changes taking place. Once the bumps in the road have passed, it will be time to “give it some gas” to speed things up again.

People. Wise leaders know that taking good care of their people will contribute immensely to their company’s success. Businesses don’t learn, improve and grow — the people do. It’s all about the people! Growth is often a smoother process when solid human resource processes (e.g. hiring, interviewing, orientation, performance review and firing) are in place. These are areas that, when overlooked or done badly, can create challenges for any business, regardless of growth.

As businesses plan, prioritize, create processes, set the pace and develop people, the Ambassador Advisors team of experts is available to assist you. Please call us today to learn how we can help your organization Dream More, Plan More, Do More®.

Read the rest of this blog series (Parts 12, and 3).

This article draws on research found in Growth Is the Dynamic Confluence of Strategy, Entrepreneurship and Values by Edward D. Hess, published by the University of Virginia Darden School Foundation.

Ambassador Advisors is a Registered Investment Advisor. Securities offered through American Portfolios Financial Services, Inc. of Holbrook, NY, 631-439-4600 (APFS), member FINRA, SIPC. Investment Advisory Services offered through Ambassador Advisors, LLC. Ambassador Advisors is not owned or operated by APFS.

Any opinions expressed in this forum are not the opinion or view of Ambassador Advisors or American Portfolios Financial Services, Inc. (APFS). They have not been reviewed by either firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.

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