Shifting into a Higher Gear
You’ve probably heard the saying “Life is a marathon, not a sprint.” It’s true for business as well. But there are times in the marathon when it’s a best to pick up your pace. This is typically called a negative split. Marathon runners conserve energy in the first half of the race. Once they hit the halfway point, they step it up. As they get closer and closer to the finish line, they begin to sprint. The same concept can be applied to your business.
We are about halfway through the year. It is time to assess where your goals for the year are at and make adjustments. Chances are, you will see that some things are working while others may not be working, or not working as well as you had hoped. It’s time to consider the ways you can adjust your plans for better results by the end of the year.
Your initial assessment of the year-to-date will reveal what isn’t working and what needs more focus for better results. Once you’ve identified these, you can move forward and look at your Growth Barriers and find X-Factor.
The Growth Barrier
We all have at least one thing that trips us up. In a marathon, it is called the wall. In business, it is that one thing you do to grow that is hard, time consuming, and expensive. Think about it. What’s the hardest part of growing faster and finding more business? This is the barrier that, if it wasn’t there, you could grow very quickly and easily.
What’s your barrier? What the hardest, slowest, and most expensive aspect of your current growth strategy? That’s your growth barrier.
To use the marathon analogy again, the X-Factor would be what you’ll do to blow past the competition. Is it weight training? Is it diet? Is it some new equipment?
In business, finding the x-factor can be tricky. First you have to identify your growth barrier. Then you have to create a novel and lasting solution to your growth barrier–that is your X-Factor. The X-Factor is a new approach that allows your business to grow 10+ times faster than before.
For instance, in the early 2000’s an east coast landscaping business figured out how to eliminate field sales calls and save time and expense by using satellite images to quote new clients over the phone. This led to very rapid growth for the company.
As we head towards the halfway point in the year, take a step back and assess where your goals for the year are at. Then kick it up a notch, find your growth barrier, and shift into high gear with your own X-Factor.
We help companies to develop their own x-factor and scale up rapidly. We have multiple clients on the list of fastest growing private companies in the Bay Area. Can we help your team with Scaling Up?