Our little company has reached what The Consultant calls an "Inflection Point." That is, five years in, we're faced with a unique choice:
Get much bigger. Or get much more exclusive. In other words, to be sustainable for the next five years, our 'out' has to generate much more 'in.' Decrease the 'out,' or increase the 'in,' or fade away like the rest.
Three weeks ago, a local "Personal Trainer" deleted his facebook profile, locked his doors in the dark, and left town. He'd been in business for a year; had sold some very cheap long-term packages; had a hundred 'friends' on facebook. He left with a lot of unfulfilled packages, and a LOT of angry customers. That's dirty, no doubt, but I don't believe that he started out with the intention to deceive anyone. Rather, he simply couldn't survive without new cash flow, and he couldn't attract enough new clientele to keep the lights on while he fulfilled his promise to his startup clients.
At the other end of the spectrum, a local 'gym' (bankrupt three years now,) started with a massive influx of cash - nearly $300,000, by their own reporting. They lasted eleven months; investors simply couldn't realize a return quickly enough, and they fled. This time, they left a note to their members with a dead-end email address.....
"What's your best lift?" said The Consultant, who maybe hasn't seen a deadlift bar in awhile. "Well, I had a 520 in a Prison PL meet a few years ago...." I said, anticipating the usual reaction that a 500+ lift gets from "the Public."
I was learning that The Consultant was not the usual:
"Well, get ready for the hard stuff."
He's right. Change is hard. Risk is hard. Math and organization and being a boss is hard. It's much, much easier to show up at 5am, for twenty years, to mop the floor and stress about your chequing account.
bigger or more exclusive, that's a tough one. Not even sure what questions to ask to help make it clear.
Posted by: Kath Fryia | 12/02/2010 at 04:44 PM