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Managing to Keep Managing

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Failure to change is the number one reason that businesses fail.

I work with many entrepreneurs in the early stages of building their businesses. They are going the proverbial 100 miles an hour and experiencing most of the classic growing pains: working capital is tight, they work too many hours, they are going different directions at once trying to devote the time needed to the various facets of their business. 

One of the suggestions I make is for the owner to bring on a consultant to help him take his company to the next level by prioritizing obligations, adding systemization and positioning the business to be able to handle the challenges and changes required to grow.

The first reaction is almost always, “I don’t need to hire a consultant, all they do is ask me for my watch and tell me what time it is. I know how to run my business better than they will. I’m short on cash and already have too much on my plate.”  

I then suggest to the owner that the more successful an owner is, the more likely they will seek outside opinions and consultants do provide a tremendous benefit. A vivid example might be professional athletes hiring coaches to make them better. 

Hiring a professional helps keep you on top of your game and helps take you to the next level of your management capability. It’s so easy to get set in our ways, think that we know it all and be resistant to change. Like it or not, change is going to occur. So you must be ready and willing to prepare yourself for the journey.   

Epilogue:  I've seen a number of entrepreneurs who were too proud to ask for help and now the bank is managing their business.

- Steve Sink

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