Designing Your Future Business
Are you going through some growing pains in your business?
We thought so.
How did we know? Well, because for most of our members, there is always a “next level” to the work that they do. We have women in our community who are 1, 5 and 10+ years into their entrepreneurial journey. They have all had to level up their game at some point.
Maybe you’re looking to expand into new products or services, or double your sales next year. Perhaps you’re taking on a bricks and mortar location, or you are thinking about hiring staff for the first time. Wherever you are, we know two things:
- 1. Growth is positive, but…
- 2. Growth can also be scary
For perspective on this topic, we turned to Amy Ballon and Danielle Botterell - amazing business degree-holders, founders of 2 businesses, authors of the book Mom Inc., and keynote speakers at this year’s MamaCon Conference in October!
We asked them how other mama entrepreneurs can make that next big leap to reach new heights in their business. Here’s what they wanted to share:
“Our clients are either at the start-up stage, or the ‘now what’ stage when they come to us. For the latter group, they’ve built something special but they’re not sure how to take it to the next level.
We love meeting entrepreneurs precisely when they have come to a fork in the road like this – these are special opportunities to take stock of what’s working and what’s not in your business.
One exercise we like to do with our ‘now what’ clients is to ask them to imagine they are going to sell the business shortly…and to someone they really care about. Then, we ask them to imagine all of the things in the business they would advise the buyer to do differently. Every business owner knows which aspects of the business should be changed. It is a very powerful exercise.
In this respect, owning a business is like owning a home. In every house there are things that work sub optimally – things we mentally put on our ‘to fix’ list but then manage to never get around to. The screen door that doesn’t slide properly, the burnt out light, the creaky step…you know what we’re talking about. Then when we get ready to sell we ‘fluff’ our houses – paint the dingy walls, fix the broken things. Invariably, we fall in love with our home all over again, after we make these small fixes, and regret not having fixed it up for ourselves to live in.
So, if you’ve got a business to grow, before you do anything else, do a business ‘fluffing’ exercise. Make that list of what isn’t working properly (a surly employee, a lack of systems, the need for a particular piece of equipment or software, etc.) and fix up your business for you to enjoy and take forward.”
Amy Ballon and Danielle Botterell are the principals of Spark Consulting. They work with entrepreneurs to create and capitalize on opportunities for growth. They will be speaking on these ideas and much more at MamaCon 2017, happening on October 21 in Toronto. Grab your ticket here - it’s already 50% sold out!