As a business consultant, I get to witness a lot of trial and error when it comes to business.
Yet, there are still 3 Common Growth Mistakes that companies tend to make as they scale.
These include;
- Not delegating
- Not focusing
- Not training
Actually, there are a lot more than these 3 mistakes companies make as they grow, but given that these are the most common and most easily solved, we decided to focus there.
What are the 3 Most Common Growth Mistakes scaling businesses make?
What got you here won’t get you there.
Things change fast when scaling a business. Even more so in a time when AI Tools are available to everyone.
Yet these common mistakes seem to pop up time and again.
Not Delegating
“As your business grows, you won’t be able to do everything yourself. You’ll need to hire employees and delegate tasks at some point, especially if your business is growing quickly. (Forbes)
Not delegating can hinder growth by bottlenecking decision-making and slowing down progress. Delegation is crucial in the growth phase of a business as it allows leaders to leverage the skills and expertise of their team members, enabling them to focus on strategic initiatives.
Not Focusing
“A skill that pays dividends in a period of growth is prioritization.”
Not focusing can scatter resources and efforts, diluting the impact and effectiveness of initiatives aimed at growth. Focusing on key objectives and priorities is essential during the growth phase to channel resources effectively and drive meaningful progress.
Not Training
Not training employees can impede growth by limiting the skill sets and capabilities of team members, hindering innovation and adaptability. Training is pivotal in the growth phase of a business to upskill employees, foster a culture of continuous learning, and stay competitive in a rapidly evolving market landscape.
The result of the above is;
- ❌ Time spent on activities that don’t deliver results
- ❌ Poor customer service
- ❌ Long upskill time for new employees
- ❌ Inefficiency
And if left unchecked, it could even spell the end of the business.
How does Process help overcome these challenges?
Processes streamline delegation by providing clear guidelines and workflows, ensuring tasks are assigned effectively and executed efficiently, thereby empowering teams to take ownership and contribute to the business’s growth trajectory.
✅ This frees up a lot of time to help you work ON the business and not just in it.
Processes help maintain focus by establishing clear goals, milestones, and performance metrics, enabling teams to align their efforts toward achieving strategic objectives and minimizing distractions, ultimately fostering sustained growth.
✅ This keeps your team working on activities that move the needle and deliver growth.
Processes support training efforts by providing structured learning paths, resources, and evaluation frameworks, facilitating the development of employees’ competencies and ensuring they have the necessary skills to drive business growth effectively.
✅ This means you can ramp up new team members in no time and also keep your team upskilled.
How Documenting Processes is Your Recipe for Success
Imagine inviting a Michelin-star chef to cook in your kitchen. Besides needing them to know what dishes are on the menu, you’d ensure they understand your kitchen’s layout, where the spices are, and even how your quirky oven works.
It’s the same when you hire top talent.
New employees bring a wealth of knowledge and fresh perspectives that can transform your business. However, their ability to deliver impactful results is greatly enhanced when they understand the current state of affairs. Understanding the quirky oven is likely the difference between the chef delivering a souffle that sings versus a soupy mess.
Documenting your processes when bringing in new hires gives them your personalized recipe book, ensuring they know your business’s “secret sauce“, making their expertise even more effective. Just as chefs prep their ingredients before cooking to ensure a smooth process, creating a smart prep plan (with well-documented processes) is about laying everything out on the table, making the collaboration smoother and more fruitful.
The Quick Win Guide to Getting Started with Process
Okay, but you already have a million things to do, and now you have to add processes, too?!
Hold on a second, and we mean just a second. Here are a few ways to get started with process in your business in seconds;
Use
- Process experts to come in and help you document your processes
- Templates and adjust them as needed for your business
- AI to help you create processes in seconds
5 Additional tips to avoid common growth mistakes
Working as an entrepreneur means continuously working in the zone of pressure but there’s no point waiting until you make an error.
Implementing certain practices from the outset of starting your business will help you become less prone to growth slumps and more proactive and resilient.
Here are 5 tips to avoid common growth mistakes
- Utilize an operating system like EOS
- Organize your business and company information in a knowledge base
- Set rocks to make sure your activities are in line with your goals
- Utilize growth metrics to measure your progress and focus on the right activities
- Seek continuous improvement in the business
Bottom line?
All mistakes cost time, and Time = Money because what you cannot invest time in, you cannot scale.
Process is your businesses’ flywheel for growth. Not only will utilizing process help you avoid the most common growth mistakes but it will act as a platform for improvement and scaling.
Not only will processes help you delegate and win back your time but they will also help you focus on efficiency and will enhance consistency in the business.
