The Top 3 Things Preventing You From Growing Your Business

Imagine your business was a seed when you launched. The seed outgrew into a plant in no time spreading out its branches and leaves. But not all branches stay alive forever. You need to prune the one that has collapsed. So you should in your organization too. 

You need to discard those elements that are stunting your growth. But to cut away the bad and unhealthy branches you need to identify which one should go first. It is not wise to remove all the dead branches in one go. But for a business, it’s a little more complicated and you might need some help with this. So let’s identify a few stumbling blocks first that are on your company’s growth path and also give you insights on how to cross them.

  1. Not paying attention to what others are saying.

    Do you remember you were taught in school to listen to respond. The teacher often says, “ Give me the right answer after listening to this”. Yes, sad but true we were always pressured to give the right answer. In that process, we forget to listen to understand.

    Things are not different in the business world too. The number one thing that managers quite often do is not to listen patiently to the people in their organization. Haven’t we heard many times that managers when speaking about listening to answer, respond to sentences like ‘But I already know the answer’, and ‘I know what they are going to say’. It’s high time we realize that knowing an answer has nothing to do with listening. Listening is not about you. It is about the other person.

  2. Falling back in giving proper feedback.

    When was the last time you heard someone saying happily ‘I have a feedback session with the manager today’. Your employees should never feel that feedback is all about giving you insights on your wrongdoings.

    Feedback is primarily about giving positive reinforcement about specific tasks. Positive reinforcement builds the good chemicals in the brain that, later, allows the person to process the corrective feedback which changes the behaviors we need to change.

  3. Inadequacy of information sharing.

    What value does information have if not shared? It is truly worthless. But that does not mean you expect a multinational beverage corporation like Coca Cola to share its secret recipe with the whole company. It is easy to underestimate the importance of secrecy especially in the age of the internet.

    Information moves so fast that it is the speed of sharing that creates an advantage for your team over your competitors. It is easy to feel like only top managers make decisions. In reality, everyone including production line workers and front-line customer service workers make many small decisions.

    Sharing information about the problems that the company is facing and also letting your staff know to what extent they have the right to make decisions on these problems will make them more confident. No matter who makes the decision, the result should be the problem being solved. When your company’s problems get solved almost instantly, the pace at which you grow eventually increases.

    Put these steps together and you can build a very strong relationship with your employees that will translate into better bottom-line results for you and your customers.

    These are just a few of the many growth issues your business is facing now.

    Don’t worry, We are here to help.

    To learn more about growing your business, click here to sign up for a free trial.

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