The plateau effect, where you grow your business to a certain size and it never gets any bigger, can be overcome. Systems are everything. And getting outside help in setting up these systems is a really good idea.
February 12, 2013 by Mike Draper
Next week, we’ll have a case study for you of a Toronto-area contracting firm that is approaching $3-million in annual revenues. That’s not the big story (the $3-million). It’s how the two partners who run that firm have gone from spinning their wheels working crazy hours, trying to do it all themselves, never seeming to be able to push past a certain plateau of revenue or profit; to setting up systems, running their business like a real business – and significantly improving their respective incomes.
How did they do this? Well, there have been many studies on what makes one company outperform another one but one I quote often, from a major Canadian bank, is that “Companies that regularly use outside help (for business expertise) grow 76 per cent faster than those that don’t.”
Dreams can and do come true. But remember:
(1) You’ve got to HAVE a dream. Make it specific!
(2) You’ve got to change the way you think.
(3) You need to change the way you do things.
(4) If you keep on doing what you’ve always done, you’ll keep on getting what you’ve always got.
Hold onto your dreams. They’re real!