By Garry Hojan
Why at the beginning, of course. I’m being a smarty pants, please forgive me.
Most business school theories say to do a SWOT analysis first to have a strong picture of your business status and to make better decisions on launching to the next level. I agree with the value of SWOT analysis from a strategic standpoint prior to a growth move, however, I would suggest doing something else prior to even doing a SWOT.
Take the time to clarify what “growing my company” means to you. In other words, and I’m borrowing from Mark Moses’ book “Make Big Happen,” first figure out what you want and then figure out what you are willing to do, and not do, to get what you want.
Some owners will say things along the lines of “I want to grow from $3M to $10M within five years and want to back away from the company’s day-to-day.” Owners may say they are willing to do whatever is required to get there, and I think they really do believe this but…
Let’s take a break for a second, before going any further I’m going to state something that should already be apparent. When referring to “whatever is required” I’m always speaking to stay within the bounds of legal, ethical, and moral, never the opposite. Okay, now that’s out of the way, let’s carry on.
Being brutally honest, I’ve experienced in most cases when owners are not achieving what they say they want, it is generally because they can’t seem to get out of their own way. I include myself in this. This is usually compounded by blind spots where they can’t see those things that they are doing, or not, which are preventing the company from achieving its full potential.
There are many reasons for this, lack of motivation or drive, trust issues, ego issues, fear, arrogance, integrity issues, etc. There’s nothing inherently wrong with any of those feelings, we all have them to some degree or another. Nothing wrong that is until they inhibit our ability to get to where we want to be.
I know that the concept here can be offensive to some. To suggest that it is pretty much they alone who are responsible and control the level of their company’s success. The team is integral to success, but with an owner limiting rather than leading, well, you get the idea.
For this newsletter article I am speaking to introspection on personal roadblocks and not on your industry or market. I’m assuming the industry you’re in still has market share available and is growing.
For instance, global machining is expected to grow between $140.78 billion and $195.59 billion by 2029 and 2032, respectively.
If an aerospace machine shop owner indicates that they want to be at $x million and haven’t been able to get there, I’m likely going to ask “Why do you think you aren’t there yet?” and maybe even gently ask “What impact do you believe you have had on not getting there?”
Usually me asking probing questions, then shutting up and listening helps us get to a place of realization and clarity to address any roadblocks.
Addressing personal roadblocks takes trusting others, vulnerability, and being brutally honest with yourself if you want to have a significant impact on your business and getting to a place beyond even what you imagined, but I guarantee you that it’s so worth it.
Start here, then do your SWOT.
You must be able to cut through all of the “noise” and be clear on what it is that’s holding your company back. You can either do it yourself, or get help by working through the process with a third party. There’s a tremendous amount of value for those that want to grow, are unsure of why they aren’t getting what they want and asking for an outside perspective.
That’s one of the reasons I love working with new people in the business I steward. They’ll see stuff we’ve done for years and bring a new perspective to our attention…and we become a better company for it.
Need another perspective on getting what you want? Let’s chat.
Never any sales pressure, a no-charge initial consult, and a simple zero risk guarantee…you receive higher value over cost, or you don’t pay.
You can email me at ghojan@jhaero.com or call my cell at 208-627-2565.
