Dr Ross McKenzie - Entreprenuer - The Startup Business

How To Keep A Small Business – Small (Do Not Do This)

Honey I shrunk the kids!

Do you remember that movie when the inventor Wayne Szalinski accidently shrunk his kids from one of his mad experiments?

Well I do, but more so because that same phrase was once used here in Australia to describe how one particular CEO greeted his wife, but instead of kids it went something like this…

Honey, I shrunk the bank!

No doubt you have heard jokes also like “how do you get a million dollars… you start with 10 million dollars and buy a boat”!

I know it’s all funny sometimes, reality can be, but the truth of the matter is it is serious.

There is an epidemic of business failure around the world and I believe much of it can be avoided.

Strangely though for many business people they are caught in a particular paradigm or set of beliefs about themselves, or what is required for their business.

Take for example a recent presentation I attended with small business owners and budding entrepreneurs.

When the conversation of the presenter shifted to discussing the importance of having a strategy, there were some whispers in the audience saying it was getting too corporate!

Well I am not a mind reader in what this man was actually thinking, but here is my take…

This individual was so convinced that strategy was only for large companies and not necessary for him.

He felt he was “hands on” enough that whatever needs to be done will be done and if something comes along, then he can handle it.

Well here is my message to him…

You can’t handle the truth (and I am saying it in the same way as Colonel Jessep did to  in A Few Good Men)

Thinking like that will keep you as a small business.

You will not grow.

A small mind is not for small business, or any business for that matter.

You need to be strategic in your thinking, even if you are hands on in your execution.

And you can do both because it is about learning a few skills and using s few appropriate tools.

But here’s the thing.

When you do this. I mean when you start becoming more strategic in your thinking and your decision making. Like looking beyond the monthly invoice cycle some really good things start to happen.

You start to feel more empowered.

You can see direction towards longer term goals. While along the way you and your team are being motivated as you tick off milestones.

So, if you want to build a larger business (and that means different things to different people), then you must learn to become more strategic in your intent.

After all, this is about your why and your purpose in the long term.