The idea that businesses go through different stages isn’t new, and there are countless books on how to manage a company. Because there are so many theories, it’s hard to find a blueprint on the typical challenges of businesses as they grow, and practical tools to help navigate these obstacles. John Holland of Plutus Consulting joined us on March 22nd for a Lunch ‘n Learn session on Common Challenges at Every Stage of Your Business, discussing the typical obstacles faced by businesses at different growth milestones, what holds companies back, and how to overcome these hurdles.
John started off by comparing the management of a sports team with that of a business. A great team has solid structure, systems and organization; it employs good leaders, coaches and players. Before going onto the field, the team has a clear game plan, a contingency plan, and guidelines on how to play effectively. Managing a business is no different: just as sports teams can move up and down on a league ranking, businesses can do the same.
John then introduced DISC TM: a behavioural assessment model which can help classify an individual’s behaviours, both natural (who they are) and adapted (how we are in our work environment). This is important in relation to the common stages of a business, because at each stage there’s an emphasis on different employee roles that are guided by the DISC profile. Basically, different skills are required at each stage of growth for both management and staff.
Finally, John presented the group with an overview of the various stages of business growth, along with practical insights into the characteristics of businesses at each stage and the tools and skill sets needed to move through each stage to the next level.
At each month’s Lunch ‘n Learn we also feature an interesting iF client to share a 5-minute highlight of their business. This month’s Factory 5 was Chris Buttenham and Ravinda Seunath of Tasytt, a gamified employee onboarding platform for growing teams.
Thanks to John, Chris and Ravinda for sharing your stories with us!
Our Lunch ‘n Learn events are a great way to get out and network while enjoying a free lunch and learning something new! Make sure to keep checking our events calendar for upcoming Lunch ‘n Learns and other events in the ecosystem.