ecently, I called a staff meeting in my business. It was time for an internal audit and performance review, especially after the unexpected passing of my mother-in-law earlier this year.
The Question of the Day: How Can We Continue to Grow Despite Current Constraints?
Stepping out of my business unexpectedly highlighted capacity constraints and bottlenecks in our programming and service delivery. While my clients were understanding and flexible (a heartfelt thank you to each of them), they still depend on our organization to deliver the services they pay for. Their goals, commitments, and financial pressures remain unchanged, and failing to meet our commitments is a breach of contract.
I know several friends in my business network who have faced bankruptcy due to emergency leave situations as solopreneurs. It’s shocking how a few weeks or months can dramatically change your business situation and cash flow.
With this reality in mind, I want to take you behind the scenes of a critical C-Suite conversation (CEO, COO, CMO, and CFO). Currently, I wear all these hats daily—perhaps you can relate. 😉
Three Cardinal Rules in My Meetings:
- Leave your ego at the door.
- Be an equal contributor and open to fresh perspectives.
- Make clear decisions and have an action plan with timelines.
Key Questions and Insights from Our Meeting
I started with a topline review of our KPI dashboard to assess our goals and year-to-date results.
Areas Ahead of Target:
- Gross and Net Revenue
- New Client Growth
- Lifetime Value of Clients
- Speaking Engagements
- Social Media Growth
Areas Behind Target:
- Total Number of Offers Made
- Group Program Sales
- Email Subscriber Growth
- Late payments from existing clients on payment plans
I conducted a deep dive into the factors contributing to these results, both positive and negative. I was honest about what I could sustain and what I couldn’t as we move through the next four months. I reassessed our priorities for the remainder of the year and made necessary adjustments. While every goal is still a desire, I acknowledged that I can’t do everything with the resources and time left in the year. I scaled back some goals and doubled down on the biggest needle movers, including a three-part, one-day Interactive Workshop Series happening in Q4 (you’re going to LOVE what we’re creating).
Planning for the Future
After this staff meeting, I have a solid plan to navigate the short term. However, the question of capacity remains, which I believe is always a solvable problem.
I invested time brainstorming these two critical questions:
- What measures do I have in place so that the business can run without me?
- This isn’t a simple one to solve immediately, but I met with a consultant who helps build exit plans and discussed my strategic core offering with my coach. As a result, I’ve started making changes to our business offerings for 2025.
- How do I build capacity to maintain our growth goals and strategic priorities while supporting clients in challenging times?
- Life will continue to present challenges, and it’s up to me to have systems and people in place to support the business. Things might get harder before they get better, but I aim to become stronger and more capable of handling the big waves.
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