Based on my survey last month, most business owners are frustrated in chasing after elusive customers to increase their business’s revenue, profit, and cash flow.
Ninety six percent (96%) of the respondents said that maximizing their profit potential was either important or extremely important within the next 3 years. But these are also the same issues that are frustrating the majority of owners that answered the survey.
Conflict. The majority of respondents indicated that revenue, profit, and cash flow where the issues keeping them awake at night, but only 14% of the responders said they ask for help solving those issues. The balance (86%) said that they don’t use (or use very little) consultants, CPA’s, bankers, boards of directors and peer groups as resources to help them break through and solve these most pressing challenges.
Greatest Strength = Greatest Weakness. This tells me that the traits of self sufficiency, boot strapping, emotional and intellectual independence, and trying to do everything yourself (the strengths that got the business where it is today), are the same traits that are now hampering the businesses growth/potential. I was conflicted by this.
Would this approach work for Tom Brady, Aaron Rogers, Ben Roethlisberger, Cam Newton, Drew Brees, or Andrew Luck? Would the owners of these teams respond well if any of these quarterbacks started performing badly and they didn’t get help to resolve their problem(s)? The answer is obvious. If you want to be better (grow revenue, increase profit, and maximize cash flow and value), would taking a different approach to solving problems benefit you and your business?
Another great American said it a different way:
Insanity: doing the same thing over and over again and expecting a different result.
– Albert Einstein
Have a great week and be a contrarian.
Business Growth Coach