Welcome to our latest blog that is all about the importance of CLARITY. In fact, given the importance of developing real clarity as a foundation for success in today’s ever more competitive climate, this blog is our first in a series of six separate blogs on the topic.
Let’s start today by trying to build some greater clarity around the different growth phases that all businesses go through and some of the very specific challenges that entrepreneurs looking to scale up or even sell their businesses face.
As ambitious business owners, we are all fascinated by others and their individual success stories. Be it international sports stars or serial entrepreneurs we are all desperate to understand the secrets behind their successes.
Contrary to the many myths around successful entrepreneurs and their individual entrepreneurial journeys these entrepreneurs are rarely born with the necessary skills, let alone the knowledge to create a winning business.
Like the top athletes, most successful entrepreneurs recognise the need to have great coaches/mentors. They all recognise the importance of learning what it takes to succeed, what it takes to navigate the numerous challenges and ensure their respective businesses realise their true potential.
For many years, the traditional business growth stages have been widely discussed by both academics and business studies students alike. However, this traditional analysis of what stage a business is at does little to provide any real insight into the very real challenges facing entrepreneurs at the coal face.
Consequently, at Chalkhill Blue we’ve created our own methodology for assessing businesses based on their specific challenges. Our Milestone Survey allows us to not only assess a business based upon its specific challenges but also to understand the diverse range of emotions that invariably accompany the daily challenges that successful entrepreneurs experience along the way.
Our unique survey categorises businesses into one of four distinct phases, namely: SWIM / RUN / JUMP / FLY based upon the specific challenges that those businesses are facing alongside their respective growth ambitions.
Based upon the different phases above, if you are one of those entrepreneurs that want to scale up and grow turnover by 20%+ year after year, enjoy market-leading gross (70%+) and net profits (20%+) are you clear about what is required? Have you got a great business coach/mentor to help you unlock your true potential? If the answer is No, then isn’t it about time you too explored how One to One Coaching could accelerate your business’ growth potential?
Similarly – if you’re hoping to build a business that you can ultimately sell, have you ever wondered why less than 11% of businesses listed for sale in the UK are ever sold? If you have never built a business with the aim of maximising its value and then sold it isn’t it about time you found an experienced executive coach/mentor that by working together One to One can leverage all their experience and ensure that you are able to do exactly that?
Our One to One high-performance coaching is all about helping ambitious entrepreneurs and their organisations reach their full potential.
Similarly, if you are one of those entrepreneurs that prefer to have expert advice on hand with the added support of a community of like-minded entrepreneurs working alongside them then a tailor-made Group Coaching / Mentoring Programme may suit you better.
Whether you are the CEO/Owner of a multimillion-pound organisation, a dynamic scale-up organisation, or an SME with a desire to accelerate your growth we have an ideal business coaching solution for you.
What’s more – even if you are just at the start of your entrepreneurial journey or have been struggling to really establish your business for a while now, the opportunity to work with leading growth experts is not beyond your reach either in a flexible and cost-effective manner.
Having helped 1000’s early-stage entrepreneurs we know that the challenges of wearing too many hats, not enough time, building a consistent and profitable customer base whilst balancing the all too common cash constraints are often the hardest.
Consequently, we created our Online Growth Accelerator Membership Programme to specifically help early-stage entrepreneurs learn quickly and ensure that they were well placed to develop their respective businesses to their full potential.
As a successful entrepreneur who has already enjoyed regular growth in your business, you’re probably looking to either;
- Accelerate your growth and build a profitable, sustainable business that scales year after year (JUMP) i.e. grows consistently by more than 20% per annum or…
- Think about preparing your business for sale (FLY) in order to realise the full financial rewards of all your hard work over the many years.
You’ve almost certainly already learnt to successfully navigate a number of different challenges as part of your existing entrepreneurial journey. Whilst the JUMP and FLY phases bring more challenges again, the step-change in financial rewards goes hand in hand with the increased complexity and magnitude of challenges for most businesses at this stage.
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Understand what stage your business is currently at, and get a bespoke report that will help you take it to the next level!
As businesses grow, they invariably face some very specific challenges. Understanding how best to address them, in what order, whilst also identifying the opportunities associated with these challenges is a critical part of unlocking your business’ true potential.
There’s no doubt that those entrepreneurs who manage to create a business that is capable of exploiting this elusive JUMP stage enjoy massive commercial and personal benefits that simply elude so many of their peers.
Commercially the trappings of a business that is consistently enjoying periods of rapid growth in revenues, gross and net margins are both obvious and unquestionably financially lucrative.
The inevitable cashflow improvements from the aforementioned growth only further enhance the financial rewards for the business and the successful entrepreneur alike.
Better still market-leading growth rates are one of a number of significant factors in enhancing the asset value of the organisation when ambitious entrepreneurs work towards maximising value in the run-up to an exit.
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Consequently, those entrepreneurs who manage to successfully navigate this exciting JUMP stage and consequently set themselves up for the FLY stage invariably enjoy far greater levels of financial freedom, control and independence compared to the majority of their peers, whilst creating far more time and a far greater sense of fulfilment for themselves, their families and their team.
Despite record numbers of new businesses being launched in the UK year after year have you ever wondered why so few entrepreneurs actually achieve either of these elusive goals?
Have you ever wondered why is it that the so-called gazelles, those companies that grow turnover by 20%+ for at least three consecutive years, enjoy market-leading gross (70%+) and net profits (20%+)?
Did you realise that these same companies are responsible for most of the UK’s SME growth but only amount to approximately 4% of the total number of SMEs?
Similarly – have you ever wondered why less than 11% of businesses listed for sale in the UK are ever sold?
There’s no doubt that in order to successfully navigate the JUMP or FLY stages entrepreneurs need to develop a distinct set of skills and attributes that will allow them to unlock their true potential and create their own high performing organisation.
They need to develop the ability to deploy their vision for the organisation whilst inspiring others in pursuit of ever-increasing stretch goals. They need to learn how to combine strong commercial and strategic acumen along with exceptional decision-making skills to exploit opportunities as and when they arise.
Contrary to the many myths around successful entrepreneurs and their individual entrepreneurial journeys entrepreneurs are rarely born with these skills. They are skills that we all have the ability to learn and indeed must learn if we’re to ensure that our business is able to realise its true potential.
High-performance business coaching is about helping ambitious entrepreneurs and their organisations learn these skills in order to reach their full potential.
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Why not get in touch with the team today? We’d love to hear from you!
We’re truly passionate about supporting business owners like you overcome your challenges and unlock the true potential of your business. If you’re looking to drive your business forward, get in touch today!
DON’T MISS our next blog in this series of 6 separate blogs. In our next blog we’re going to delve deeper still into the importance of CLARITY for entrepreneurs in the JUMP and FLY phases around the key drivers of value and profit in their businesses.