Poor systems and controls are another reason your business may become stagnant. Having documented processes, procedures, and tools to help your team complete tasks in another’s absence is crucial to keeping the momentum going.
Having documented best practices and tools will increase your company’s efficiency, reduce costly mistakes, and make your business more scalable.
This could include the checklists your operations manager follows when working with a new client, the orientation process you use to onboard all new hires, the sequential process for producing your core product or service, and the automated e-mail sequence that goes out to each new prospect.
Basically, business systems include any essential company know-how that you have captured in a tangible format, as opposed to information locked in the brain of an individual team member.
And the final thing that can cause your business to become stagnant is the lack of leadership attention. Not having a good action plan and failing to focus your best time, energy, and resources on completing your company goals can cause you to drift and lose focus on your goals.
You can combat this issue not only by putting down your goals on paper, but also by meeting with your team regularly to review those goals, looking at your progress, and working together to overcome any hurdles or issues.
The good news is, that despite the occasional dip or stagnant trend in your business, it is recoverable. By focusing on cross training, strategic depth, systems, and controls and leadership buy-in, you can be well on your way to scalability and growth.