A growth mindset (Part 2)

Earlier this week I outlined several key takeaways I had following a recent executive breakfast with the owners and presidents of nine separate manufacturing and service companies. You can find the earlier blog entry here.

As promised I wanted to share some additional ideas that evolved from the morning, all of which I think are critical for business owners and executives to consider in today’s fast paced economy.

Three additional ideas to support a growth mindset

1. Position disadvantages as advantages: The CEO who attended my forum spoke of some of the challenges he had when initially growing his small $5 million dollar business, one of which was their remote location and size. When challenged by potential customers who were considering his firm against other much larger or well known companies, he would suggest that their size and location meant dedicated staff, low turn over and increased responsiveness, all of which supported the customer’s needs.

2. Let go to grow: In order to grow his business, the CEO spoke of having to find a plant manager. One of the most difficult things he ever had to do was to leave the plant in the hands of someone else, however in retrospect he realized that handing over the reigns of daily operations supported him in getting in front of customers, prospective customers and strategic alliances. Exactly the places a president should be.

3. You can’t grow your business from behind a desk: One of the most powerful comments the CEO made during our interview was the fact that he owed much of his success to understanding that in order to grow the business he did not have to be “in the business.” You can’t grow a company from behind a desk or with a tool in your hand.

Consider these business growth ideas and how they apply to your business. What is the one idea that you want to run with?

© Shawn Casemore 2014. All rights reserved.

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