More than 30 years ago I worked for and was mentored by a man who changed my life. He saw more in me than I saw in myself. But it was more than that; he had worked his way up to the top rung beginning on the ground floor. He had raised eight smart and well-adjusted children, and he looked at life and laughed. His name was Jerry Heir. To this day I quote Mr. Heir, and not only about business but about life. And one of his quotes was that there was no such thing as stagnant in business you were either on your way up or your way down and that leads to out.
Is Your Business Stagnating?
Are the Numbers up?
The first thing that comes to mind is how much business are you doing? Are you “beating” last year, last month, or last week? If you’re not it could be a sign of stagnation, but maybe not. If your business has taken on new challenges, there may be a drop in sales volume, but that doesn’t automatically define stagnation.
Are You Growing?
Have you expanded territory, added product, or increased personnel? Is your business growing in ways that may not be reflected by revenue? Don’t get me wrong; net profit is what keeps the doors open, but there are times that businesses have to spend money to grow.
Are you Developing New Leaders?
When a new hire onboards can you paint them a vision of advancement or do they need to wait for someone to retire to move up the ladder? Do you offer leadership training? If not here’s a great place to start. The New Manager’s Workbook: A Crash Course in Effective Management.
Are You Failing?
If you never fail, you aren’t trying new things. You’re not expanding. You’re not growing. To grow you need to take on new challenges and not all will be a success. However, failing gives you the opportunity to learn and grow. If you want to explore this more I recommend, Failure the Secret to Success.
Don’t Buy Into Complacency
A business is a growing concern, it’s a living thing, and living things grow until they don’t—then they die. Look around you; it happens more often than you may think. How many businesses can you remember that stagnated and passed into the night? What direction is your business headed?