As an entrepreneur, it’s easy to believe that success is a result of dedication, perseverance, and passion. As long as you put in the work and believe in your business, you’ll be successful, right? Unfortunately, there’s a bit more to it than that. Yes, passion and ambition are essential, but they can only carry you so far.
Here are two truths about growing a business from nothing to a massive million-dollar corporation. First, it’s not about the person; it’s about the process. Second, failure is a good foundation for success.
At the 6 to 7 Podcast, growth is our bread and butter. We recently sat down with Bob Kroon, an executive coach and author of Finding Revenue: How Founders, Owners, and CEOs Lead Marketing and Sales. According to Bob, the most common element holding companies back from consistent, stable growth is that the owner doesn’t understand how to move the brand forward. All too often, they stick with what they know, which can lead to disaster.
The Value of Learning
No one is born perfect, and no one is born with all the knowledge necessary to run a successful business. While experience can be an excellent teacher, the fact is that an owner or founder needs to be an avid learner to succeed. As an entrepreneur, you can’t just stick to what’s in your wheelhouse. You need to branch out and discover new ways to help your company thrive.
As Bob says, the CEOs that are “uncoachable” are the ones who push back against change or the unfamiliar. Any founder who believes that he knows it all is destined to fail. Fortunately, though, that could be a good thing if it becomes a learning experience. As we mentioned, failure is beneficial, as long as the pain of loss helps you recognize where you need help.
How CEOs Are the Backbone of Marketing and Sales
Running a business is hard work, and there are so many elements to handle that it can often feel like marketing is not part of the owner’s job description. He who runs the business focuses on operations, while someone else takes care of selling it.
Unfortunately, this mindset is incorrect. The owner or founder of the company should be the one leading the charge with marketing and sales? It all comes down to strategy. As an owner, you need to understand where your company is and where it’s heading. You need to understand what it is you offer and how you can solve problems for your clients. By creating an overall strategy for the business, it’s so much easier for marketing to align with it.
Instead, too many CEOs and founders believe that they need to hire someone else to figure out the strategy. Or worse, they spend too much time looking for that rockstar who is the “perfect” fit. However, the problem there is that, even if you found that person, what happens if he or she leaves?
The best option is for the owner to create a guideline for the business and then build a process to achieve it. Success doesn’t lie with one person – it lies in a system dedicated to growth. Once you establish that system, you’d be surprised by how well things can improve.