On Tuesday 7th November 2017, Headspace is excited to offer our members a free 1:1 consultation with Rachel Cheal, Founder of the Growth Lab. The Growth Lab is a financial consultancy that advises businesses on how to achieve successful growth. Below she shares her top tips for success.
The Four Tops. The pioneers of Motown music – they performed together as the original four piece for four decades, producing hit after hit after hit.
1. Top Cat: get the right team in place
Top Cat. Leader of the group of alley cats who are always up to weird and wonderful tricks. Top Cat may take all the credit, but he couldn`t do it without the help of his trusty gang.
Likewise, as your business grows, you need to be honest about what your strengths are and delegate more. You cannot focus on where the business needs to be in 2-5 years if you are still chief dish washer! Find those in the team who can take on more responsibility and allow them to shine. Identify key hires that need to be made and use your network to snap up the really good people.
As well as full time hires, consider engaging experienced consultants such as a legal counsel or marketing strategist. These people will bring a wealth of technical expertise as well as sound advice on best practices seen in other businesses.
2. Topography: Map out your business and understand its peaks and troughs
The key to understanding your company`s performance is by:
3. Topiary: trim the excess in your business to ensure it grows in the right direction
Efficiencies can be realised in 3 ways – technological, operational and cost-based.
4. Triceratops: keep a firm eye on your cash
Why do most businesses fail? Poor cash management.
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