What comes to mind when you think of foundation? For me it’s the image of bricks and mortar, like that of a house or commercial foundation.
It’s only after a solid foundation has been set that building can proceed. Yet even these relatively small foundations are vulnerable. They will need support or reinforcement if a building continues to grow.
And what about the foundation for a big city skyscraper, or the Golden Gate Bridge, or even Hoover Dam? Structures this enormous in size are anchored to a solid foundation, but what is that foundation?
It’s bedrock! And if you want to build a strong business that has the potential to become “enormous” it needs to be anchored to bedrock too.
What is the bedrock of your business?
Why it’s YOU, of course! You’re the owner. You’re the one leading it. YOU are what gives it a foundation. You are what gives it its purpose for being and the values from which it operates.
You’re not made of rock, or even concrete, yet you’re expected to keep it anchored.
The foundation of a business isn’t about how strong YOU are in keeping it all together while wearing all the hats, and spinning all the plates.
The foundation of a business is the CULTURE you cultivate as your business grows and evolves.
The culture of your business is the bedrock it’s anchored to.
Here’s how you can shape and develop the culture of your business by focusing on the four ESSENTIALS of The PACE Principle:
1. Establish a Culture of Continuous Improvement - Be More Strategic
What amount of time do you invest thinking strategically? The idea of continuous improvement often gets lost in the busy day-to-day operations. Investing quality time to think strategically, be curious, and explore how your business is running must be part of your regular routine.
2. Establish a Culture of Predictable Growth - Be More Analytical
What do the numbers say about your business? If growth is important for your business, clearly understanding how your business makes money is essential. Once you manage your business by the numbers you will see trends and opportunities making growth more predictable.
3. Establish a Culture of Responsibility - Be More Efficient
Which inefficient systems drag on your production and profits? If efficiency is important for your business, then establishing clear points of responsibility is essential. You can't do everything yourself, so you letting go and making others responsible provides you the time to work ON other areas of the business that need your attention.
4. Cultivate Business Culture By Design - Be More Influential
Where could you communicate more effectively? Culture is often created through the actions of the business owner which means you do influence the culture of your business. You can also make it a negative place to work. Simple awareness of this is crucial, and from there you can create a business culture of your own design. What kind of culture or vibe do you have at your workplace?
Creating A Strong Foundation for Your Business
The bottom line is this: Setting a strong foundation for your business starts with you acknowledging that you CAN shape the culture of your business by simply understanding and becoming more proficient in each of these four Business Essentials.
The PACE Principle is designed to guide business owners on their journey of becoming more proficient leaders for their business. The model’s structure forms a foundation that EVERY business needs: an owner who leads by being Strategic, Analytical, Efficient, and Influential.
The value of The PACE Principle is that it delivers a simple approach for business owners seeking something new in how they become better leaders and attain greater business results.
As an owner you may not be made of bedrock, yet you’ve been strong enough to get your business this far. Now explore all four essentials, and when you go deep enough you will find the gaps that will lead your business to the next stage of growth.
Learn more about The PACE Principle and the 4 business building skills: Strategic, Analytical, Efficient, and Influential.
Let's Connect on LinkedIn...
You're welcome to connect with me, Asa Beavers, on LinkedIn and I'll invite you to join my LinkedIn Group: Strategic Leadership Essentials for Entrepreneurs and Other Business Leaders.