The only constant in business is change. Every Small Business goes through various cycles in its lifetime and you’ll need to learn to adjust your management style, your activities and your attitude to match whatever cycle your are in. How many cycles will you encounter? It really depends on the type of business you are running, but on this episode of the Small Business Show, we’ll be focusing primarily on 5 different cycles.
- Launch – Implementation – Action
- Growth
- Peak
- Maturity
- Decline
Listen and and you’ll learn why adapting your management style and anticipating the next business cycle is critically important for your success as a Small Business Owner.
Your hosts Dave Hamilton and Shannon Jean have owned businesses that have gone through all of these cycles; from the excitement of the Launch, all the way to the misery of decline. During each cycle, there are adjustments to be made and actions to be taken that will steer your business in the right direction. Learn from our mistakes and successes and mix in your own experience to keep your Small Business growing.
Join us for all this and much more on this episode, then visit the Small Business Support Group to share your own tips and to join in on the conversation!
Chapters/Timestamps:
- 00:00:00 Small Business Show #209 for Wednesday, February 6, 2019
- 00:01:20 The Disaster version vs. the Planning Version
- 00:03:09 Constant Change is Here to Stay
- 00:04:10 Don’t Ignore Decline
- 00:06:27 There is no Idea Cycle!
- 00:07:26 It takes action to open the gate
- 00:09:49 Get on the same page, then dispense with the internal paperwork
- 00:11:41 Suddenly… viability!
- 00:13:28 Have an operations person
- 00:14:59 SPONSOR: ExpressVPN – Take back your Internet privacy TODAY and find out how you can get 3 months free, go to ExpressVPN.com/SBS.
- 00:17:35 Don’t fall in love with the numbers!
- 00:18:31 Cash FLOW is King
- 00:21:48 Grow for ONLY good reasons
- 00:22:41 Working IN the business vs. ON the business
- 00:24:39 Expand Your Revenue Stack at Your Peak
- 00:27:07 Your margins are my opportunities
- 00:28:22 Jumping back in!
- 00:29:56 What does maturity look like?
- 00:31:35 Did you embrace change? Let us know at [email protected] <https://businessshow.co/facebook>
- 00:31:48 Options in decline: merge, sell, re-partner, close?
- 00:34:27 Nothing lasts forever, even the bad stuff!
- 00:37:40 Just Start!
- 00:39:51 SBS 209 Outtro
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