Joe Hinton talks to Louisa Magnussen of Connections Radio about some of the challenges facing business owners when growing their business. Amongst the topics discussed is the correlation between a growing business and the changing role of the business owner.
Listen to the interview:
Louisa: "Why do most businesses fail to get the growth their organisation that they want from the outset? What are the key problems in businesses?"
Joe: "Ok I’m going to go back to the question you asked me before.
The key strength of any business is the business owner. But a lot of times, the key weakness is also the business owner. And by that I mean the business owner may be really good at whatever the business does, could be building solicitors, whatever the business does. They’re very, very good at the technical aspect of what the business does. But actually, the whole process of growing a business, managing and leading the team and all that is a different skill set to being an electrician, being a lawyer or whatever it might be.
And so typically, what we need to do is to help them to grow those other skills, to enable them to take the business forward. And that’s the big challenge in probably the first two years that we work with a client, is engaging with them and getting them to that point when actually they develop those skills that they can take it forward and getting them away from the doing of the business to the growing of the business and the managing and taking the helicopter view and looking down on the business rather than being in the muck and bullets dealing with the day to day stuff."