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09/20/2011

Let Go To GROW

By Doug & Polly White

Small businesses have a big impact on our economy, they:

  • Represent 99.7% of all employers

  • Create 75% of net new jobs

  • Employ about 50% of all private sector workers

  • Number 22.9 million

The U.S. economy is sluggish at best. If it�s to turn around, the above statistics show that small businesses will have to lead the way. But, too often, small business owners unwittingly stall the growth of their own companies. 

Authors and business partners, Doug and Polly White, have written a new book, Let Go To GROW, to help small business owners understand how to avoid the pitfalls they will inevitably encounter as their companies grow. It shows these leaders how to direct their enterprises on a path of continued growth while sidestepping the traps that ensnare so many.

By reading Let Go To GROW, small business owners will discover that in order to take their business to the next level, they will have to relinquish certain tasks and their skill set will have to morph to keep pace with the changing demands of a growing business. After analyzing more than 100 businesses, the Whites learned that principals must Let Go To GROW. This insight can revolutionize a small business, and change lives along the way. 

Let Go To GROW examines the challenges entrepreneurs face as their businesses grow from micro to small, and from small to midsize. The Whites define businesses in an innovative way � not in terms of revenue or number of employees, but rather in terms of management structure. Accordingly, they define a micro business as one in which the principal is doing the primary work of the enterprise. In a small business, the principal is managing those who do the primary work; when a company reaches midsize, the principal is managing managers.

These may sound like subtle changes, but they define the points where the principal�s role must change or growth will stall. Their work uncovered new insights that have not been discussed in the business world � until now. Through the authors� extensive research as well as 50-plus combined years of business experience, Let Go To GROW explores topics including:

         When in the life-cycle of a business the role of the principal needs to change

         The one thing that most often stalls the growth of small businesses

         Key things a prospective entrepreneur should know before he/she starts or buys a business

         How to make good tactical decisions, develop an effective strategy, develop an effective market segmentation and effectively set goals

         Why the core of any successful business is hiring the right people, and how to do it

         The inevitable challenges that a company will encounter as it transitions from micro to small to midsize

         How to effectively document processes and develop a robust set of metrics, and why it is critically important to do so

         The value of quality improvement and cycle-time reduction

The publication chronicles the predictable challenges principals face and how to successfully overcome them. Unlike many business books, it addresses not only what needs to be done, but also explains how to do it.

�During the course of our consulting work,� says Doug, �we discovered a number of businesses that had stalled because the owner did not delegate. The principal was out of capacity, typically working 80-hours or more a week. Their personal life was gone. Their businesses had stopped growing and profitability was a thing of the past. We saw other businesses that were in serious trouble because the principal had delegated prematurely.�

 �We wrote our book,� adds Polly, �to help businesses that reach the junctures where the principal must Let Go To GROW, and all growing businesses will.�

(Doug and Polly White are partners at Whitestone Partners, Inc., a management consulting firm guiding small and midsize businesses through profitable growth. Combined, they have more than 50 years of experience enabling companies to achieve their goals.)

For more information on the authors click here



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