The Dead Zone
When companies move or cultures change, it’s not the new future that generally worries people, but the journey’s uncertainty. I call that distance “the ambiguous zone.”
I’ve also found that when small businesses or solo practitioners seek to create a larger firm, with more people, clients, and infrastructure, there is a similar potential disconnect. But I call this “the dead zone,” because there’s a general lack of awareness about the challenges entailed.
When significantly growing your business, here are some aspects that must be considered beyond merely “number” or “size”:
• Family: There will be a toll on relationships because more time is inevitably required to manage growth. You have to prepare for this even with those not directly involved in the business.
• Peers: Your current peers are not the right future peers. You have to develop new relationships with the people whom you aspire to be with as equals.
• Profit: In most cases, profit takes a “hit” during growth because of important investment. Lifestyles have to be adjusted.
• Image: In almost all cases, collateral material, value propositions, photos, web presence, and related matters must be improved and upgraded.
• Financial: Almost always, you’ll need more powerful financial relationships and resources. Branch managers have to give way to senior vice presidents. Credit lines have to be increased.
• Employees: This is the highest risk aspect of growing into a larger firm. Tolerance for error here is very slight, since poor hires can cost you a year of progress and a ton of money. Hire someone to help you hire. Throw out family members who aren’t pulling their weight.
• Tough Calls: You’re going to have to sever some friendships, remove some employees, change some vendors, and so forth. If you can’t make those “calls,” you’re not going to be successful.
I remind everyone in growth modes to remember six words: I have to feed my family.
© Alan Weiss 2013
