As businesses grow, they become more complex and overwhelming (especially for you as the owner), so sometimes, you need to simplify your business to achieve long-haul success and sustainable growth. In today’s episode, our guest Margo Crawford shares her entrepreneurship journey to building effective business processes, developing leadership succession, and reconnecting to her company’s purpose – all by keeping things smart and simple.
About Margo Crawford:
Margo is the Founder & Chair of the Business Sherpa Group, a management consulting firm helping SMEs thrive and succeed. With over 20 years of experience in the field, she is the go-to expert for small and mid-sized businesses looking to build the right foundations and pave their way to the top.
Are you ready to simplify your business?
Over the years, a company grows more complex by hiring more people, implementing new tools, and continually developing new multi-step processes. Such complexities may lead to confusion and stress among the employees. On top of that, they can ultimately deter you from your company’s purpose.
That’s why simplicity is so critical to the success of your business. Instead of constantly adding layers and layers of complexity to your structure, you need to take a different approach and master simplicity. By streamlining your processes, building strong leadership, and designing systems that work for you, not only do you simplify your business, but you also make it more efficient.
Someone who has already been through the reps may be best at guiding you in the right direction and showing you the way, so make sure you work with a seasoned and motivated entrepreneur on your business growth.
Episode highlights:
- Running a business is a team job. Relying on one person for everything creates fragility in the system and leads to stressed-out employees. That’s why it’s so important to put effective systems and processes in place. (05:58)
- As a business owner, you want to feel confident you’re passing over the business torch to the right person. So, take your time to find a trustworthy leader because leadership succession takes time. (13:24)
- Sometimes all you need to do to take your business to another level is to work with someone who’s been through the reps. You need to work with people who have the knowledge and experience to help you get to the next step in your entrepreneurship journey. (27:49)
- Being a business owner is a mug’s game. Over time, you start tying your identity around your business’ financial metrics, successes, and failures. You eventually become your business. (30:05)
- It’s important to stay connected to your company’s purpose in all stages of growth. Instead of attaching your identity to the numbers, tie it to the core purpose and values. (31:06)
Margo’s best advice for entrepreneurs:
“It’s so important to have that purpose […] and reconnecting with it and saying, ‘Am I achieving that purpose? Am I doing what I set out to do?’ I wasn’t setting out to make a 10 million business. I was setting out to create these outcomes, and if I can reflect on those things, that’s where I anchor, and that’s where I’m authentic too.” (31:19)
