Is Your Ladder Too Short?

I meet with dozens of people each year who tell me how they grew their companies to an impressive size, but then the growth slowed down. And then it stopped. They can see a lot more business out there; they just can’t figure out how to get it.

I used to call this, “hitting the glass ceiling,” but I don’t call it that anymore. Now I say, “You need to add more steps to your ladder.”

Here are a few things I’ve learned over the years:

1. It is easy to pick the low-hanging fruit.
   According to the US Census, there are 17 million owner-operated businesses in America that have no employees other than the owner. I imagine them as 17 million guys named Chuck and each of them has a truck. All of these Chucks-in-Trucks live off the lowest of the low-hanging fruit. They provide pest control, plumbing, electrical work, window cleaning, gutter installation, A/C repair, junk hauling, roofing, remodeling, swimming pool resurfacing, cement pouring, and tax preparation. They make a living, but their businesses are not scalable. In fact, it’s not really a business at all. When Chuck isn’t behind the wheel of that truck, Chuck is unemployed. But Chuck survives because it is easy to pick the low-hanging fruit.
2. Most of the fruit on the tree requires a step-ladder for you to reach it.
   The steps on the ladder are preparation and planning, procedures and processes, recruitment and retention of customers, recruitment and retention of employees, vendor relations, profit margin monitoring, cash management, lines of credit, and then of course there is advertising and marketing.
3. Every successful person has a superpower, a core competency, an area of excellence.
   And when the growth of the business begins to slow, the instinct of these people is always to double-down on the things that got them to where they are. This is a very seductive mistake.
4. The steps that got you to where you are… will not take you to the next level.
   The business owner knows the steps that got them to where they are. They can name the reasons for their success. This is why they believe that doing what they have always done – but with greater intensity and deeper commitment – will lift the company to a whole new level. But it never does.
5. To get to the next level, you need to add more steps to your ladder.
   You’ve got to start doing things you’ve never done before. You have to identify your limiting beliefs. You have to go outside your comfort zone.

It usually takes business owners about 3 years of pushing and straining plus motivational talks, accountability partners and invigorated compensation plans that result in zero growth before they realize that they have already found all the customers who like to buy in the way the business owner prefers to sell.

Do you want to hear something really weird? I have learned that it is almost pointless to suggest meaningful change to a business owner until their business has been flat for about 3 years. It has been my observation that they will always resist adding more steps to their ladder until they have utterly exhausted their confidence in their superpower.

Has your business been flat for awhile? Are you tired of standing on your tiptoes at the top of your ladder reaching as high as you can with your strong right arm and finding nothing there?

Add more steps to your ladder.

To learn more about how we can help you, book a call with Ryan Chute of Wizard of Ads® today.