3 years into running a business. I have noticed some key themes:
Recruitment; I feel we have nailed recruitment. Out of 4 new hires this year, we have got three correct. We have a set formula, we know the personality traits we want, we don’t recruit to fill the hole, we will only recruit if they match our criteria. Our criteria does not change.
Sales; Lace Marketing was a lifestyle business. I now focus on driving sales. This has led to good growth in the sales pipeline. In turn it has released pressure on closing contracts. It is easier to close 3 deals if you have 10 in the pipeline rather than 3 in the pipeline.
Personal; I feel far more comfortable. Any thoughts of selling the company have disappeared, this is mine for the long haul. I care about the business and the people as beings, rather than a P&L or balance sheet. I feel more settled and ready for any issues, this has in turn created better decision making.
Product development; I have learnt something key. Jack of all trades, master of none. We are now totally focused on our product; “a meeting or webinar with a decision maker, who has a budgeted project in the next 12 months”. If you want something else, find a company that sells what you want.
Next year; We grow by £100k revenue a year. That is my aim. Not overly ambitious, just in line with the past 3 years. This will be done by following the same formula in recruitment, sales and a focused product.
Review; This year’s blog is a lot calmer than last. Less emotional, more settled. I think that is how the year is too. I feel we now have an established business. People know more who we are and what we do. Experts are wrong when they say it takes two years to establish a business, it’s 3!