Why “Hitting It Harder” Isn’t the Right Strategy for Business Growth

December 8, 2017 9:00 pm Published by

I can’t think of a single successful entrepreneur who isn’t a hard worker. Dramatic and sustainable growth simply doesn’t come without hard work. Even when faced with failure (click here for a post on some incredible failures), most of these people will simply “hit it harder” until they succeed. But I’d suggest that simply “hitting it harder” isn’t the right strategy for business growth.

Take a look at the illustration above. “Hitting it harder” isn’t going to solve the problem. No matter how hard someone hits that screw, it’s not going to deliver the desired results. In business, it’s not just a matter of working hard (that’s important). It’s also a matter of working hard on the right things!

What are those “right things?” Some people may think I sound like a broken record, but I’m convinced that these principles bear repeating. In order to succeed and dramatically grow your business, you have to change (transform) the way you handle the following four things.

  • People: It’s imperative that you hire the right people. You can’t ensure solid, sustainable growth on your own. And not only do you need to hire the right people, you need to make sure they are equipped to do their jobs. That involves more than just funding their efforts and paying them well. It means developing them to succeed.
  • Strategy: It’s great to have ambitious goals, but you need to have a plan to achieve those goals. Your strategic plans need to be detailed, measurable, and clear. And your strategy needs to recognize what’s going on in the marketplace. You may have to adjust your strategy if it’s not aligned.
  • Execution: Great people and good strategy alone won’t guarantee success. You have to execute your plans. That requires accountability. It means achieving specific, measurable milestones. Key Performance Indicators (KPIs) are essential. And you have to monitor them regularly.
  • Cash: Growing a company consumes cash. You have to make sure that you have enough cash on hand to fuel and sustain your growth. When you’re scaling up your business, your cash needs will look quite different than they do for a small company. You have to transform the way you handle your cash.

Hard work will always be required for success. But that doesn’t mean “hitting it harder” by doing the same things you’ve always done. It means doing the hard work of changing the way you do things. It means transforming your company.

Contact me to find out more about how to transform the way you think and act with regard to people, strategy, execution, and cash. I’d love to help you think through how to hit the right things hard!

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This post was written by Chuck Kocher