Growth Strategy: Why Business Transformation is necessary for small businesses
Have you felt disconnected from your business?
My first year of business was hectic and incredibly challenging but through transforming the areas that were misaligned with my vision, I was able to build a business that I absolutely love.
In this episode, I’m exploring what business transformation encapsulates and why it’s necessary for small businesses. Business transformation includes addressing underlying organisational challenges with a strategic lens through either an ongoing model or a strategy-led program of work.
To illustrate how it works in small businesses, I’ll run you through the reasons why transforming or evolving your business is necessary and how you can start applying it to your vision and goals.
I’ll then take you through a simple 6 step framework for critically examining your business and how you want it to reach that next level of growth and run sustainably in the future.
This episode is full of valuable information so pick up a pen and paper and jot down some notes. Remember, business transformation is vision and strategy-led and never ends.
Topics We Covered:
[2:32]: Business transformation isn’t often spoken about for small businesses.
[3:30]: Business transformation involves addressing underlying organisational challenges through a strategic lens.
[4:02]: Business transformation encapsulates ongoing transformation or a program of work.
[4:16]: A potential danger for ongoing transformation is making too many changes that leave your audience confused about what your business does. Everything must be approached steadily and considered and be aligned to the big vision of the business.
[5:50]: What got your business to this point may not be what’s needed to achieve the next level of growth.
[6:53]: What are some of the areas in your business you want to transform?
[7:07]: The reasons why business transformation is necessary for small businesses. #1 There were areas in my business that were misaligned and I had to fix those areas.
[7:15]: #2 The vision of the business has changed.
[7:45]: #3 You’re looking to grow your business.
[8:07]: #4 Business efficiency and optimisation.
[8:20]: #5 New opportunities to better support your clients, operate and market your business.
[9:34]: Framework to undertaking a business transformation. 1st step: Understand the problem by conducting a business review/audit.
[9:44]: 2nd step: Reconnect to your business vision.
[10:00]: 3rd step: Define what you want to achieve.
[10:09]: 4th step: Design a strategic planning process.
[10:15]: 5th step: Action, implement and test.
[10:19]: 6th step: Reflect and track.
[10:55]: Join the waitlist for the Run Your Business Like A Boss Academy.
[12:34]: Check out my 1:1 programs - Business Accelerator Coaching Program and my 1-day business strategy session in person in Brisbane.
Links and Resources
Connect With Me:
Doors are open for the Run Your Business Like A Boss Academy. Check it out now!
About your host, Kristy
Hi, I'm Kristy, thank you for tuning in to the Run Your Business Like a Boss Podcast. My purpose for the podcast is to help Business Owner’s in the growth stage of business (messy middle) have a sustainable business, they love.
I’m an online business coach, based in Brisbane, Australia. I provide 1:1 business coaching, to Service Based Online Business Owner's and a group coaching program commencing in 2022. I believe whole heartedly that having a Business Coach is what gives you the competitive edge. As your coach I support you to overcome challenges quickly, uncover blindspots and make business decisions with confidence and clarity. All of which keeps you moving forward and maintaining momentum.
As your Business Coach, my role is to help you organise and formulate your ideas, turn them into a goal and then into an actionable plan! All while meeting you where you're at and providing you relevant tools and support along the way.
Thank you for tuning in to the Run Your Business Like A Boss podcast!