How Leaky is Your

Business Bucket?

Influential Minds > Unleash Your Gifts > Blogs > How Leaky is Your Business Bucket?

How Leaky is Your

Business Bucket?

Influential Minds > Unleash Your Gifts > Blogs >

How Leaky is Your Business Bucket?

We probably all remember the story of the 3 little pigs. One built his house with straw, one with sticks and the other with bricks. The Big Bad Wolf came along and blew the first two houses down, but the third house withstood the wolf’s attempts to destroy it.


The story is about houses, but it’s the same when it comes to business.


The one thing that we have to do when we scale any business (no matter what size of business we have), is to make sure it’s built on a solid, unbreakable foundation.


It is imperative.


I see so many companies going bust because they haven’t spent the time growing strong business foundations.


I was asked to work with a start-up who went from £0 – £22m in 3 years but I refused to work with the owner because he wouldn’t let me audit his business foundation before we went to the £50m mark. In fact, he refused to look at his business foundation; he just wanted to work on his marketing and sales machines.


What that screamed at me was that his foundations are built on jelly and not cement, and he isn’t bothered about long term sustainability. What’s more, it explains why he was working long hours, he was highly stressed, and he had put on 3 stone in weight in 8 weeks.


Can you imagine if you built the world’s tallest building, Burj Khalifa, on jelly? With a total height of 829.8 m and a roof height of 828 m, the Burj Khalifa has been the tallest structure and building in the world since its topping out in 2009. Just imagine if it was built on a foundation of jelly!


Now picture the same building in a storm and think about how much it would move in the high winds and torrential rain. Really visualise the world’s tallest building swaying in the wind and being battered by rain on its foundation of jelly. And imagine what it would feel like to be inside it!


We build our buildings on cement with pillars as support for a reason.


Your foundation is your business core and if you are going to scale a business without the right foundations, you’re going to scale a broken system which I will absolutely guarantee you will fail.


You will run out of money or time, or you will drop so many balls that customers will have serious doubts about your delivery. Imagine the Titanic taking water on board and slowly sinking. What happened to when water started to submerge the boat?


Yes – you are right, the water tipped one end of the boat up. That end survived for a bit but in the end the water broke the boat up and destroyed it.


If that was your business, you would be constantly in reactive mode. You might as well get a job as a firefighter because all you would be doing in your business is putting out fires.


Another sign of your business needing help with its foundations is your cash. Another of my clients was earning £4m in turnover but just £20K of that was net profit. That is 0.005% of the cash being kept in the business which means this business had a massive leaky bucket.


Imagine that for every £100K you bring into your business you only keep £500 of it!


The business owners were having to work harder to earn more money just to see more and more of their hard-earned money leak away from the business in order to stay afloat. They were stressed, exhausted and losing the will to live because of how the business was zapping their energy.


If you scale a business from a loss, you will only lose more. This happens up to 90% of the time as there is only a 10% business survival rate. It is imperative you get your business foundations checked out before your scale up and that is why our Supercharge Your Business In 90 Days is helping so many business owners to do just that.


Your business will have different levels and no matter what level your business is at right now, there is always another level you could go to. Just like the Burj Khalifa, the bigger your business becomes, the more floors or levels you add to it, the more unstable it will become if its foundations are made of jelly.


It is honestly never too early in a business to get a clearer picture of how you want your business to be this time next year or when you want to sell it. And there is always value in spending time to get clear on exactly where you want to get to and how.


If you are looking to get out of the business rat race or you’re in a place to scale your business for long term sustainability, I know we can help you clarify your vision and help you achieve your dreams, goals and bucket lists.

SHARE THIS POST




ABOUT & CONTACT

Influential Minds are experts in Business transformation who have a history of results in helping you work less and earn more profit.

info@influentialminds.co.uk

GET SOCIAL

© 2021 INFLUENTIAL MINDS

WEBSITE BY Digital Leads Agency

We probably all remember the story of the 3 little pigs. One built his house with straw, one with sticks and the other with bricks. The Big Bad Wolf came along and blew the first two houses down, but the third house withstood the wolf’s attempts to destroy it.


The story is about houses, but it’s the same when it comes to business.


The one thing that we have to do when we scale any business (no matter what size of business we have), is to make sure it’s built on a solid, unbreakable foundation.


It is imperative.


I see so many companies going bust because they haven’t spent the time growing strong business foundations.


I was asked to work with a start-up who went from £0 – £22m in 3 years but I refused to work with the owner because he wouldn’t let me audit his business foundation before we went to the £50m mark. In fact, he refused to look at his business foundation; he just wanted to work on his marketing and sales machines.


What that screamed at me was that his foundations are built on jelly and not cement, and he isn’t bothered about long term sustainability. What’s more, it explains why he was working long hours, he was highly stressed, and he had put on 3 stone in weight in 8 weeks.


Can you imagine if you built the world’s tallest building, Burj Khalifa, on jelly? With a total height of 829.8 m and a roof height of 828 m, the Burj Khalifa has been the tallest structure and building in the world since its topping out in 2009. Just imagine if it was built on a foundation of jelly!


Now picture the same building in a storm and think about how much it would move in the high winds and torrential rain. Really visualise the world’s tallest building swaying in the wind and being battered by rain on its foundation of jelly. And imagine what it would feel like to be inside it!


We build our buildings on cement with pillars as support for a reason.


Your foundation is your business core and if you are going to scale a business without the right foundations, you’re going to scale a broken system which I will absolutely guarantee you will fail.


You will run out of money or time, or you will drop so many balls that customers will have serious doubts about your delivery. Imagine the Titanic taking water on board and slowly sinking. What happened to when water started to submerge the boat?


Yes – you are right, the water tipped one end of the boat up. That end survived for a bit but in the end the water broke the boat up and destroyed it.


If that was your business, you would be constantly in reactive mode. You might as well get a job as a firefighter because all you would be doing in your business is putting out fires.


Another sign of your business needing help with its foundations is your cash. Another of my clients was earning £4m in turnover but just £20K of that was net profit. That is 0.005% of the cash being kept in the business which means this business had a massive leaky bucket.


Imagine that for every £100K you bring into your business you only keep £500 of it!


The business owners were having to work harder to earn more money just to see more and more of their hard-earned money leak away from the business in order to stay afloat. They were stressed, exhausted and losing the will to live because of how the business was zapping their energy.


If you scale a business from a loss, you will only lose more. This happens up to 90% of the time as there is only a 10% business survival rate. It is imperative you get your business foundations checked out before your scale up and that is why our Supercharge Your Business In 90 Days is helping so many business owners to do just that.


Your business will have different levels and no matter what level your business is at right now, there is always another level you could go to. Just like the Burj Khalifa, the bigger your business becomes, the more floors or levels you add to it, the more unstable it will become if its foundations are made of jelly.


It is honestly never too early in a business to get a clearer picture of how you want your business to be this time next year or when you want to sell it. And there is always value in spending time to get clear on exactly where you want to get to and how.


If you are looking to get out of the business rat race or you’re in a place to scale your business for long term sustainability, I know we can help you clarify your vision and help you achieve your dreams, goals and bucket lists.

SHARE THIS POST

ABOUT & CONTACT

Influential Minds are experts in Business transformation who have a history of results in helping you work less and earn more profit.

info@influentialminds.co.uk

GET SOCIAL

© 2021 INFLUENTIAL MINDS

WEBSITE BY Digital Leads Agency