In Episode 5 of Business Breakthrough Thursdays, host Dave Fionda speaks with growth advisor and exit strategist Kerri Salls about the pain points associated with building a business, how to create an employee-powered culture of excellence, and how to break through the growth obstacles your organization is facing.
- The five keys to building a successful business in the “new normal”
- How leaders drive culture, for better or for worse
- How to quickly re-write the rules for business operations
- The biggest obstacles to creating change in an organization
- How to identify your leadership blind spots
- The importance of deadlines and the cascading dangers of procrastination
- How to transition from a “startup” to a “scaleup”
- How even the smallest of organizations can use free tools to implement world-class management strategies and frameworks to drive change and create success
Kerri’s five keys to building a successful business in the “new normal” are:
- Fill in the blanks in your corporate vision, plan, and forecast. You’ve got to ensure that all aspects of your business are strategically aligned with each other.
- Know your finances, funding, cash flow and burn rate inside and out. If you start spending money you don’t have, or you continue spending money without knowing where you’re trying to end up, or without knowing where your future cash is coming from, you will be out of business before you really get ramped up, and maybe before you even figure our exactly what your company’s “new normal” is going to be.
- Make sure you have the right team in place for today’s business environment. Everyone’s team has been decimated by COVID-19 and people are having to regroup and redesign who should be on their team, where they’re going to work from. What’s the purpose of everybody’s role on the team? You need to be sure that your team, your partners, your executives are the right people on the bus for this new normal.
- Re-evaluate your competition. What are they doing to succeed during the “new normal” and what can you do that’s far better than them. You can’t afford to start something new in this environment to start something if you’re not going to be able to be the leader right off the bat — the first, the best, or the only.
- Get your pricing right. You can’t afford to position yourself as a commodity just to get in the market, or just to have cash flow. That shortchanges you and your business long term.
Kerri is an experienced owner, consultant and advisor who helps owner led businesses develop scalable growth strategies, performance excellence and multiply their businesses long term value. She is among the elite exit strategists entrusted by owners of private companies to guide them through pre-transaction preparations to reduce risk and increase intrinsic business value by 70-100%. Kerri is also an accomplished speaker, podcast host and the author of the books “Harvest Your Wealth” and numerous other books, white papers and articles.
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