By Joseph Zeleny                                       

Growth takes time, time takes money, money takes growth.  If there was ever an evil triangle to get lost in, this is usually it.  How do you grow a business that needs all three of these items to be successful when all you have is one side if you are lucky?

John and June came to me with a problem.  John had just gotten his contractors number after working for June’s father for six years.  The couple was three months pregnant and barely making bills as it was.  June had been saving some money aside for her husband but now with a new baby coming along was afraid to spend it.  They wanted to hit the ground running, but were weary about making the same mistakes they had seen other people make.

A problem I have seen more and more in the last few years as the real estate market has flattened is people afraid to get out and take a chance.  Why go for a gamble when you have a sure thing in your pocket?  The bottom line is, you shouldn’t.

Yes that’s right.  You’re being told you shouldn’t give up a sure thing and gamble by a marketer.  What you have to remember is that I am a real marketer, not some lackey hired by the newspaper to get your money.  The simple fact is, with good marketing there is a true feeling of ownership with any task undertaken.

No, I’m not smashing dreams here.  If you read the article “A Common Misconception” you learned that most businesses need to change just a little to get them on the right path and this is no exception.

True, you may not be expecting a child in six months, but the odds are that your position can relate.  Maybe you just got your license, are working for someone else and want to get out on your own but are afraid of meeting your basic needs.  Maybe your spouse just got their license and wants you to quit your job to help them full time when you know that the risk is worse now than ever before.  Well yes and no on that one, but that information is on the “Beyond the Next Step” publication available in the Publications section of our website.  So the next question is what to do.

The answer is to keep the three sides of the triangle together as much as possible.  Each side should be equal in length.  If they are not, you have to fix it.  Just quitting one job to take on your own business venture is a risk few of us can afford.  With a guaranteed revenue stream your money side of the triangle predetermines your overall triangle size.  Time may be shorter and so will growth, but that tells you that those two are the sides to work on.

Let’s look at the time aspect of most new businesses.  Many people start their new business while working an other job.  Some lose their job and believe that is the spark they need to get their business running.  While necessity may be the mother of all invention, remember when you gamble the odds are always on the house, not the player.  Find a second job while you’re getting your business up and going.

So you have some money, but feel like you have little time?  This is usually a misstatement.  The honest statement is almost always, that someone has money and has little time they are willing to sacrifice.  Doubt that?  Figure this, how much time do you spend watching TV each night?  How much time do you spend on your days off relaxing, doing chores, or some other side project?  The average person can easily find up to 40 hours additional time in their schedule to work their business.  True that we all need to relax from time to time, but ask yourself what you are willing to sacrifice to grow your business.  If you’re not willing to make the responsible yet uncomfortable sacrifice, you probably should avoid working on your own altogether.  Because owning your own business is anything but comfortable.

If you are then we can move on to building the third side of this triangle; growth.  Growth can be a tricky thing because most people don’t measure it right.  When I spoke to John and June I asked them what they considered growth.  John immediately thought it would be measured by the number of accounts they gained.  June stayed quiet until she said she didn’t agree with that but didn’t know why.  June was on the right track.  I asked them if when their baby was born if they would measure its growth overall in just how tall it was.  Both agreed no.  I asked if they would more measure it by it’s accomplishments through life, crawling, walking, talking, etc.  They both agreed yes.

It’s the same in business.  You don’t simply grow your company by getting accounts.  How many accomplishments do you miss in that?  Growth is marked in many ways.  Getting a business plan, finding a logo, building a website, your first order of business cards, these are all accomplishments, which have nothing to do with gaining new accounts.  However if you can’t walk and talk, what hope do you have of interacting successfully in today’s world? Growth is simply an expansion of your company in whatever form.

So how to grow all three to an equal length now becomes your next concern.  First allocate time each week to work on your business.  If you are able to cut down your hours at work without shrinking your money side, do so.  Use that time to get your business a presence and get your growth to a point where it is equal to your money.  Next use your time to begin to market your business.  If you are going to be working during normal business hours, look for evening mixers that many chambers of commerce offer on a regular basis.  If you are going for residential accounts, determine your demographic and go after them in the early evenings or weekends.  Or if you have more than one of you, one goes after the demographic and calls the other out to interested parties.  If your time is restricted on the weekends consider signage, or outside advertising forms that allow you to place them at any time, early in the morning, or late at night.  If you commute heavy, consider vehicle vinyl or magnets that will advertise you on your way to work or errands.

Only after you begin gaining customers will you begin to see all three sides of your triangle grow. 

So John and June teamed up.  He continued to work for her father while she drove around advertising and putting postcards in prospective customers doors.  She took the calls and booked the quotes for him early evenings.  He often did the work on Saturdays or occasional the whole weekend if the job was large enough.  In one case it took him a week to do a job, but since the customer understood his working situation and received a little discount for being patient, John and June began to thrive.  Soon June called me to have dinner with them.  When we arrived at the restaurant the couple handed me two sheets of paper. The first was their bank statement with a solid cash flow and a letter John was delivering the next morning.  It was his two week notice.