Table of Experts: Smart Growth

The Memphis Business Journal recently invited 5 business leaders from the Mid South community to hold a round table discussion about smart business growth.

 Memphis Business Journal publisher, Joanna Crangle, facilitated the conversation which was recorded in order for the Journal to include it in print form.

Shared here is the piece:https://www.bizjournals.com/memphis/feature/table-of-experts/table-of-experts-smart-growth.html

From the discussion, quotes from Clint Cooper:

“MOST PEOPLE HAVE THE BASE CONCEPT WRONG OF GETTING TO A PLACE AND ACQUIRING SOMETHING — THEY THINK IT’S ABOUT THE ‘HAVES AND HAVE NOTS.’ IT’S REALLY MADE UP OF PEOPLE WITH ‘WILLS AND WILL NOTS’ — IF YOU’RE GROWING, IT’S ABOUT WHAT YOU’RE GOING TO GIVE UP, NOT ABOUT WHAT YOU’RE GOING TO GET."

Talking about human capital;

 "It’s interesting when a business begins, there are a few key components and you’re wearing all the hats and you can do everything proficiently, but you really have a passion for keeping the lights on. But we’re so far removed from seeing the customers and delivering the product—someone who has the least amount of exposure and training meets our customers. So it’s our job to know how to impart that passion to employees. We spend more time making sure that we have the right culture for our ‘internal customers’ so we can have that smart growth."

Talking about the optimal pace for business growth;

 "It’s like the book: What Got You Here Won’t Get You There. I’ve used that phrase personally and said it to my staff so many times. If you’re uncomfortable in a growing business, then you’ll get passed by. From the top down, if they’re going to stay on the team, they have to embrace that mantra. I’ve had painful growth. I keep that principle in mind— you’re here and that’s not going to get you to the next spot. People will complain about things that have to change, and this applies to the person leading as well. I tell my executive team, if a day comes when I’m not prepared to challenge myself to become that which I’m not now, fire me and hire someone else to be that person for the business."

Talking about focusing on different aspects of the business;

"When we onboard, we tell them we have the three Ps, but it starts with the right people. Get the right people, they’re happy, they can implement new technology and stay in compliance. The hierarchy is people at the top. You need the right people within the systemized processes. What’s fantastic is if you also have a superior product. People often think, if I just had the one unique widget. Well, there isn’t one. It’s the extraordinary people – that’s the magic. Then you can repeat the system and deliver the product."

Talking about getting the best/right people on the front lines;

"We focus the largest part of energy on recruiting and onboarding and enjoy doing it. Meeting people gets me energized. I was in a meeting with business owners in Atlanta recently, one guy said, ‘We changed our internal dialogue, and we hired a person who was incredibly dynamic who could change my business.’ I’ve kept that thought with me. We certainly can get hung up on looking at resumes. "

Talking about how business owners can assess where they are and how to better run the business;

"We had a team meeting in which the intent was to share the vision and where we are for 2017. Many people in the business had a misconception about what we’re doing or where we’re trying to go. So, we shared with them how we’re doing in 2017 and where we might go in 2018. After I talked to the staff, they were thankful for us telling them all of that. "

Talking about internal communication and its effect on growth;

" I was in an interview with an applicant, and one of our employees was in the room. I asked the employee, ‘What’s the hardest thing about working with me?’ I let them criticize me in front of the applicant. I find it a very empowering activity of what I’m falling short on. It’s a tool I use as a gut check. We do need boundaries and a high level of trust depending on the person it’s coming from. But, when someone tells me I’m doing something poorly, it’s not mean, it’s truthful. I don’t want to ever feel that I’m too good for others to help me to grow."

Talking about what advice would be given to other business owners experiencing growth to make sure it is smart growth;

"People got to a point because they delivered on a promise of service or product. It’s simple. We overcomplicate it. Deliver the product or service if you’re growing and continue to grow … if you no longer deliver that product well, the growth is too fast. A company could say, ‘We want to grow by 70 percent.’ If they can grow and still deliver at that high level, that’s fantastic. Keeping that in mind, smart growth is realizing the tax it will cause emotionally, spiritually, parentally, physically, martially, etc. We have limited resources of energy and emotions—if we’re doing more, it means we have to give up something else. Most people have the base concept wrong of getting to a place and acquiring something — they think it’s about the ‘haves and have nots.’ It’s really made up of people with ‘wills and will nots’ — if you’re growing, it’s about what you’re going to give up, not about what you’re going to get."