Growth isn't about investors. It's about leadership.
When a client told me he needed an investor to grow, I assured him that was not the only option. Having seen countless businesses grow and develop without taking that route, I explained the key aspects that enabled their success: from having clarity on their long-term goal and value proposition to building a 3-year plan. But above all, forming a high-performing leadership team.
It's incredible what the right leadership can do for a business. Jim Collins' assertion that having the right people on the bus can turn an organization from good to great has consistently held. I've seen plenty of examples of how strong leadership can catapult an organization from millions to billions in revenue.
The client is best described as an accidental entrepreneur. Through a series of events, he finds himself at the helm of a business with a declining market share. He's desperately trying to generate new business while spinning and wearing numerous other hats.
Investing in people A-players is one of the most effective ways of achieving long-term, sustainable growth. Your people – from the top leadership team down – are your greatest growth asset. A few key players (with equity) can make all the difference!
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