July 13, 2023
In my role as a systems and operations expert, I often come across an intriguing question from eager business owners: "How can I grow my business faster?"
Most find my answer surprising... Instead of the typical suggestions about aggressive marketing or sales tactics, my advice is more fundamental: Eliminate the constraints and bottlenecks in your business.
Understanding Your Business Constraints
Your business constraints are the limiting factors that hold back your organization from achieving its full potential. They could range from an inefficient process, underperforming staff, or outdated technology, to issues like a lack of strong leadership or a culture of accountability.
These constraints act like bottlenecks in your operational system, slowing down processes and growth.
Eliminate Before You Expand
A typical inclination for many entrepreneurs is to seek growth before they've dealt with these underlying issues. But this approach often exacerbates the problems. If you haven't identified and eliminated these constraints and bottlenecks, any attempt to grow will simply add pressure to an already strained system.
What you need to do is stop focusing on growth. Shift your focus to diagnosing and optimizing high-friction points, first.
A New Strategy Isn't Always the Solution
We often believe that a new strategy is the magic bullet to solve all business issues. We spend hours in strategy meetings, brainstorming new ideas to grow and conquer the market. But the truth is, most 'strategy meetings' are just distractions from fixing the real bottleneck of your business.
Plus, it’s often much easier to optimize existing systems than implement new ones, and with longer-lasting returns.
The Power of Optimized Systems
Creating a well-oiled system isn't just about doing things faster or cheaper. It's about making your business more robust, more responsive to market changes, and more adaptable to growth opportunities. A well-run system creates a culture of leadership and accountability, where everyone knows their role and how their work contributes to the company's overall success.
I'll say it again because it's that important: Optimized systems form the backbone of any successful business. When you've taken care of your constraints and bottlenecks, you'll find that your business can take on new strategies and growth opportunities more easily.
How do you start identifying constraints?
It’s quite simple… Identify the areas in your business that are likely underperforming (this is often obvious), and start interviewing relevant team members to document, in detail, the flow of operations. Then highlight the points of greatest friction or inefficiencies and create a plan for optimization, or work with an operations expert to help you systemize and optimize.
You’re likely already sitting on a mountain of gold waiting to be more efficiently mined.
Go ahead and try it:
- Identify underperforming areas
- Document the processes in detail
- Highlight high-friction points
- Create a plan for optimization
- Implement and test new systems
See you all next Thursday 👋
PS. Whenever you're ready... Here are three ways I can help you systemize & automate operations:
- Learn how to find, hire and manage virtual assistants → Free Access
- Systemize company processes & automate accountability → Learn More
- Let me help you automate operations and exit the day-to-day grind → Work With Me
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