Did you know that pausing workouts and training to recover allows you to build muscle and grow stronger and faster?
Scaling a DTC business works in the same way. Yes, the pause button is the accelerator!
Taking an aerial view of your business with a fresh set of eyes, followed by a deep dive into the details to see where you are and where you need to go from here, will set you and your team up for success.
I know… we are in the middle of a wonderful yet terrifying time to be in business. And busy feels good. The reality is, however, that Q1 is halfway over.
Opportunity is everywhere, and while the word recession is thrown around with abandon, consumers are going into overdrive. Brands are popping up everywhere, some online, some bricks-and-mortar, some hybrid. Where should we focus on growth?
What is a business owner to do?
Take the time to step back and assess your situation.
As a growth pathfinder for businesses, there are two things we do before any new plans are designed:
- Look at the numbers. What does the trend line look like, and is it going in the right direction across each of the KPIs that drive the operating plan? Are there cost efficiencies that we can capitalize on? Are we measuring and tracking the right data?
- Look at the organizational structure. Are the right people in the right roles doing the right tasks? Responsibility creep can be a huge roadblock as businesses change direction and do not adjust staff responsibilities.
Once we gain clarity on the current situation, it’s time to ensure that your goals are clear. Then, we design the roadmap with checkpoints along the way to measure your success.
Several tactics may be able to help:
- Consider fractional leadership. A fractional CMO, for example, can help with customer acquisition, sales development, and overall business growth strategy. Why waste time trying to hire? It can take up to 9 months to know if the person you hired is the right fit. Fractional support in Sales or Finance might also fill a gap in your existing leadership team and save the additional cost of benefits and other expenses.
- There’s an app for that! Do not overlook technology that can take the struggle out of tasks done manually. Automating these tasks can free up valuable time for strategy, training, and other leadership tasks.
- Consider enlisting a growth accelerator (like Compass Rose). We work in concert with CEOs to assist with a 360-degree deep dive into the organization and help unlock growth potential through planning, strategy, resource allocation and optimization.
It is important to remember that the role of the CEO is to lead. To scale, a CEO may need to step away from certain duties and learn to delegate better. CEOs make room in their schedules by giving things up. Capacity is your currency.
Outsource when you can, hire for growth, and delegate when it makes sense.
If you need a fresh set of eyes, let me know. I would love to chat!
