Three Pillars of Alignment for Business Growth. Entrepreneur MBA Podcast 3.38.
Summary: In today’s podcast episode, Beate Chelette from Chelette Enterprises and Stephen Halasnik from Financing Solutions discuss how to grow your business strategically using the three pillars of alignment. These solutions are helping small business owners connect people to their businesses.
Developing Your Business
The first pillar of alignment is to develop the business. Business development should be an ongoing process and should align with the overall growth strategy for the business. Every business starts with a basic idea. Operating processes, systems, and teams are built around a business’s various ideas and target audience. Small businesses benefit from brainstorming multiple ideas and narrowing them down to the most valuable few. Once a business idea is chosen, it then must decide the business offer. The business offer is what is going to be sold and how it will be marketed.
After developing an offer, small business owners should put systems into place that support the idea and offer. Systems put into place should include customer relationship management (CRM) as well as lead generation. Small businesses can see exponential growth by putting systems into place that identify the platform and methods in which the business connects with most of its customers. When building systems, it is also important to keep in mind the people using the systems. If systems or processes aren’t accessible or appropriate for the individuals using them, the intended organizational benefit of the system becomes useless.
How Workplace Unification Can Grow Your Small Business
The second pillar of alignment for business growth is workplace unification. Workplace unification involves figuring out what systems, processes, and procedures need to be put into place to support employees and teams. Systems allow teams in the workplace to operate more efficiently.
The development of teams is a crucial part of workplace unification. When developing teams, small business owners should lay out a clear hierarchy and organizational structure for how the team will function. The organization structure should be designed to grow alongside the business. Overall, the development of teams is a crucial part of the foundation of the business and its potential growth.
To escalate and monitor growth, leaders within a small business should be connected to the team. Small business owners are often too preoccupied with overseeing business operations that they lose communication with their teams. Lack of communication between leaders and teams can lead to team members getting information from outside sources that may contradict the company’s policies.
Leader’s Role in the Growth of a Small Business
Leadership is the third pillar of alignment for small business growth. Leaders of small businesses are responsible for clearly communicating the vision or idea of the business to their team. Leaders that effectively communicate their organization’s mission to their team are more likely to motivate and inspire loyalty among millennials and generation Z employees who value being a part of something bigger than themselves.
Leaders must also learn to delegate responsibilities while growing the business. Developing sustainable processes and procedures allows small business owners to focus on big picture ideas while entrusting more menial business operations to other employees and teams. The establishment of processes and procedures help ensure that operations are efficiently carried out, even in the absence of the business owner.
Another part of being a leader of growth is being able to receive and apply criticism. Hearing from employees, peers, or mentors can help leaders and small business owners grow professionally and grow their businesses. Successful business owners are constantly learning new ways to grow their business. Small business owners can benefit from hiring a business coach who is experienced in their field and can offer assistance professionally or personally.
Most importantly, leaders of small businesses are responsible for aligning all aspects of the business to the vision. Businesses that operate in alignment with their mission often leave a greater impact and are more sustainable in the long run. Organizational alignment aids business growth and helps manage small businesses as they grow.
About Beate Chelette from Chelette Enterprises
Beate Chelette is The Growth Architect and Founder of The Women’s Code and provides strategies blueprints and results-oriented, tangible tools and techniques that unify your teams, give you clear steps to improve your business systems and strengthen your leadership skills.
A first-generation immigrant who found herself $135,000 in debt as a single parent, Beate bootstrapped her passion for photography into a highly successful global business and eventually sold it to Bill Gates in a multimillion-dollar deal. She is amongst the “Top 100 Global Thought Leaders” by PeopleHum and “One of 50 Must-Follow Women Entrepreneurs” by HuffPost.
About Financing Solutions Small Business Line of Credit
Financing Solutions small business financing product is a great alternative to a traditional bank line of credit because it costs nothing to set up, nothing until used, and when used, is inexpensive. The credit line requires no collateral and no personal guarantees.
Please feel free to fill out the no-obligation, 2-minute business line of credit application here. The time to set up a credit line is when you don’t need it so that it is ready to be used, just in case.
Note: Financing Solutions donates 10% of its profits to various nonprofit charities.