Pyramid Power and Growing Your Business

Looking at the structure of your business as a pyramid is an important perspective. But, when we discuss pyramids in coaching, we’re not talking about some MLM scheme or a pyramid like the pyramid scheme of Bernie Madoff, but the actual shape and how it relates to creating a successful business.

We use a pyramid as a guide on how to plan your business to achieve success. If you look at the pyramid, it has a wide base which makes it incredibly strong and stable. Your business, when all the right pieces are in place, should have that same wide, solid foundation as a pyramid.

Success in business is a methodical process. To establish a firm foundation for your business, you need to know and understand several things about both yourself and your business. We call this foundation.

 

Clarity

Ask yourself the following questions:

  • have I established clear goals for myself and my business?
  • Have I clearly defined the mission the mission of my business?
  • Do I know and understand my market, who is my ideal customer and who are my competitors?
  • Do I have a compelling value proposition that separates me from my competitors?
  • Do I have proper business practices and procedures in place and are they being followed?
  • Are my employees properly trained?

When you’ve clearly answered these questions, you’ve established a firm foundation. Now, we’re ready to add the next level.

 

Effectiveness

At this level, think about these things:

  • Am I achieving maximum productivity? If not, why not?
  • Am I making the most effective use of my time?
  • How can I delegate some responsibilities and spend more time focused on making my business successful?
  • Are there any ways that I could reengineer and simplify my business?

 

Growth

is the third level of the pyramid where you work more ON your business, not just IN your business. Some of the things to think about are:

  • How can I increase revenues and profits?
  • How can I build my brand in a way that my business is the premiere, go-to name?
  • Can I market my business better? Should I look at other avenues such as print, cable or the Internet?

 

Sales

is the fourth level of the pyramid. To continue to be successful think about these points:

  • How can I maximize profitable sales?
  • How do I define my ideal prospects?
  • Can I clearly identify the client’s needs?
  • How do I present the solution effectively to the client?
  • How do I overcome any objections (such as price)?
  • How can I effectively close the sale?

 

Leadership

is the top and final level. Here we focus on:

  • Values: are they clearly communicated to my clients as well as to my employees and throughout my organization?
  • Are my employees engaged?
  • Is my strategic plan in place?

 

As in a pyramid, one level rests securely upon the lower level. If your missing any of these building blocks, you won’t have a solid foundation and you wind up with an unstable and lopsided pyramid. This solid structure is why the pyramids of Giza have stood for almost 5000 years through some of the harshest weather on the planet. Establishing that firm foundation and building on it will help to set you on the road to success.

 

Follow Mark Frey:

Mark is President of Navigator Business Advisors, Inc. (DBA as FocalPoint Business Coaching). He lives in Brick, New Jersey and brings 25 years of business experience in marketing, relationship management, branding, financial services and team building to his practice. He recently opened his practice after 17 years with the New York Stock Exchange working closely with the senior management teams at publicly traded companies. Mark has a BA in Labor Studies from Rutgers University and an MBA from Monmouth University. Today, Mark designs and delivers programs that make other business owners, corporate executives, sales organizations, and operational teams immediately more effective. He does this by giving guidance and feedback based on proven processes that have been developed over many years of working with companies all over the world.