I spend a lot of time with business owners across North America. There are a few traits that I notice that differentiate average owners from exceptional owners. Generally, the more engaged the business owner in their business, the more successful. This is obvious – engagement is a critical part of success in any role.
But engagement itself isn’t enough. I’ve noticed specific behaviors drive performance. Most of us “feel” engaged. We show up every day. We pay attention to the business. What differentiates the high performers from the average performers?
Note: A number of you reached out to me last week to let me know there were some technical difficulties taking the Value Builder Survey. We did a big update recently, and a few glitches were introduced to the system. But according to my IT department the glitches are no more. Are you building a valuable business? Find out by taking the survey. It only takes about 13 minutes and the results are confidential.
There is a phrase that is thrown around so often it has become trite. Work ON your business rather than IN your business. But the phrase persists because it’s powerful. I remember the first time I heard this phrase. I was at a Mastermind Group meeting and it stopped me in my tracks. I had never thought about business in that way before.
I’ve found that the best performing businesses are ones that know their numbers. When I say numbers, I mean both financial and non financial numbers. The business owners I see consistently outperform are the ones that know the stats of their business inside and out.
But more than knowing their numbers, the top performing business owners embrace accountability. They rely on advisors, competitors, and customers to hold them accountable.
Public companies have an outside board of directors. But private companies often do not have the luxury or experience of building an outside board of directors.
You run a successful business. But you know your business is capable of more. Supplement’s Mastermind Groups (20 Groups) provide a proven way to improve the performance of your business through peer to peer interaction with other business owners of similar size and business model. This group of peers becomes your board of directors.
We use financial benchmarking, coaching and one on one conversations in a fun collaborate environment to drive business improvement. Collectively, our clients account for over $100 million in annual revenues.
Business performance groups are proven to improve your business outcomes. We analyze your company’s financials EVERY MEETING. Group members hold each other accountable. They push you to achieve more. Business performance groups are like having a board of directors made up of exclusively of other business owners facing your exact same challenges.
You want to work ON your business, rather than IN your business. In our business performance groups we work hard during the day, and blow off steam at night.
Does this sound like a group you belong in? We have a few openings for a brand new group we’re developing. Drop me a line by filling out the form at the bottom of the page.
Until next week!