Today we are going to discuss how to grow your business. This is not intended to provide easy answers but instead is intended to serve as a framework or decision-making process to help you formulate a growth strategy.
Though I have almost 20 years of experience in private equity and mergers and acquisitions, I am no expert on the various strategies within the game of football. Regardless, I know that “running the ball” is not a strategy. If your team has a great running back or offensive line, of course running the ball should be an integral part of your game plan, but it still isn’t a strategy. Instead, I would simply call it an activity. But what’s the difference?
The difference between activities and strategies is that Strategies are made up of various activities. However, simply performing activities does not equal a strategy.
Throughout the course of my career, I have encountered numerous business owners that think some of the activities they are performing are a strategy, particularly when it comes to sales and marketing. For example, when asked about a company’s sales and marketing strategy, the owner might indicate that one of members of their team is their primary point of contact with the customer and he/she will ask the customer what jobs they have or if there is anything else their company can be doing for them. That’s actually a great thing to do, but it doesn’t represent a strategy.
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🐣 twitter.com/NickFourPillars
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📧 nmclean@fourpillarsinvestors.com
🔎🔎 More about Nick McLean from Four Pillars:
Background: Operations management with an emphasis on Lean manufacturing; strategy development and execution; and mergers and acquisitions (M&A).
Which of the Four Pillars does Nick identify most closely with? ''Servant leadership. I consider one of the primary roles of a manager/leader to be to help those around you be more successful and to develop as individuals. When I think of myself as a leader, I am more interested in granting and sharing authority than hoarding it.''
🏛️ More About FOUR PILLARS:
Four Pillars is a company built on a strong foundation of shared values and a commitment to long-term ownership of small businesses. Their approach is centered on purchasing and operating these businesses while providing support and collaboration without becoming a burden. They work closely with company management, aiming for shared success and sustainable growth.
Guided by their core values, Four Pillars views success as a journey filled with challenges and opportunities. Their values serve as a compass to navigate difficult decisions, whether they pertain to ethics, strategy, operations, or new challenges. They are relentless advocates for the common good, ensuring that every decision is made in the best interests of their portfolio companies and investment partners.
Four Pillars stands out with their creative positioning approach, employing informed and agile strategic planning to leverage the unique strengths and advantages of each company they invest in. They capitalize on key differentiators and foster an entrepreneurial spirit within their team and the companies they serve.
As entrepreneurs themselves, Four Pillars connects deeply with the businesses they work with, offering a balanced perspective and the tenacity needed for success. They are known for their integrity, hard work, and relentless drive to identify opportunities and drive growth. This makes them an ideal investment partner for businesses seeking to excel.
The company's ability and agility are evident in their swift and purposeful actions. They streamline the transactional process while maintaining operational precision, drawing on their experience in both healthy and distressed markets. Their track record speaks to their confidence and precision in executing various deal types, establishing them as leading investors for companies seeking to capitalize on their momentum.
Four Pillars' values, or pillars, guide their personal and professional decisions. The first pillar emphasizes the importance of strong relationships as the cornerstone of success, built on trust and a commitment to doing what is promised. They challenge the status quo with a critical and objective approach, identifying areas for improvement while recognizing and preserving what works well. Servant leadership is central to their philosophy, with a focus on teamwork, collaboration, and shared decision-making. Lastly, persistence defines their character, driving them to overcome obstacles, close deals, and manage businesses for long-term success.
