Position Yourself for Success: The 9 Ways the Resilient Business Model Can Benefit Your Business and Life
Say hello to the limitless potential that awaits you.
Do you have a vision for achieving greater success and reaching your full potential, but find yourself held back by an ever-growing to-do list?
It's time to stop letting your business run you and start running your business with a revolutionary business model. In this blog post, you will discover how you can unlock your business's true potential and finally take control of your success as we introduce 9 reasons that your business model is the key to your future and success.
Your business model can either hold you back with profit plateaus, burnout, and stunted growth or propel you forward with rapid growth, consistently increasing profit margins, and less time spent in your business.
You already have a business model in place. The question is, how well is it supporting your growth?
We suggest that you approach this blog post with a reflective mind and consider how your business currently functions. As you read about the Resilient Business Model and its benefits, take notes of areas that might be holding you back from your next level of success.
You may also find exploring these questions helpful to your growth:
What role do you truly want to play in your business?
What roles do you currently feel obligated to fulfill?
What dreams or goals do you have for your business?
What aspects of your current business model are holding you back?
Why is change a “must” for you and no longer a should or someday?
Your business model should put you in a position to live at your fullest potential. Unlocking the right model can change everything.
Changing your model will start with understanding the potential that a business model holds, understanding your own current model and determining areas critical to change within your business.
If you would like feedback about your business model we offer a free strategy consultation. You can learn more about this opportunity by clicking here.
The model we will refer to in this post is called the Resilient Business Model.
With this model, entrepreneurs no longer need to shoulder the responsibility of running the company alone. Instead, they can implement systems, procedures, and a skilled team to handle daily operations and make informed decisions. This model creates a more stable and scalable business structure where procedures can be leveraged for greater sales volume and better delegation to the team, freeing the owner from an unending daily to-do list.
Adopting a Resilient Business Model means having the capacity to respond to change and disruption, rather than simply reacting. With less knee-jerk reaction, entrepreneurs take control of their business, make proactive decisions, and drive growth. In short, it's a powerful mindset and framework that positions business and the business owner to thrive in any environment.
If you find yourself wanting to learn more about this business model and the systems within it, we offer a FREE e-book with more details about the model and how to apply it to your business: https://wagnerbusinessconsulting.com/the-unbreakable-entrepreneur
Get Your FREE Copy
Inside our e-book we teach you how to create your own business model that will leverage your time and create more profits.
Here are the 9 ways the Resilient Business Model will position your business for success and improve your quality of life:
1 || Time and emotional freedom:
The results of a Resilient Business Model are often described as “getting your life back.” It is not uncommon for business owners to work 60-70 hour weeks filled with as many tasks as they can squeeze into a day. With the proper systems, team, and controls in place, this overburdening on a business owner is not necessary for the business to run smoothly and grow in productivity.
The Resilient Business Model offers business owners the freedom to redirect their time away from the mundane daily operations and instead focus on strategic planning and long-term growth opportunities. The resulting leverage can be substantial. As the business becomes less dependent on the owner's involvement, they can spend more time doing what they love both inside and outside of work without sacrificing income. In fact, the systems created within the Resilient Business Model often lead to higher take-home pay for the owner. So, by adopting this model, you not only gain greater personal fulfillment but also financial stability and growth for your business.
“The Resilient Business Model offers business owners the freedom to redirect their time away from the mundane daily operations and instead focus on strategic planning and long-term growth opportunities. ”
2 || Increased profitability and a higher take-home pay:
The systemization of a business reduces expense waste and increases efficiency, resulting in a well-defined structure that is set up for constant improvement. The goal is no longer to merely stay afloat every month, but to be proactive, identify areas of improvement, set targets, achieve them, and improve even further. The advantages of this Resilient Business Model to the bottom line are staggering.
One major advantage of this model is that the scalable core of the business allows for larger revenues while creating the necessary systems and processes to reduce expenses, improve efficiency, and boost profit margins. This scalability is vital to ensure that a business can grow without incurring additional costs that would otherwise impact the bottom line.
Another advantage is that roles within the business are well-defined, which means that each employee has a clear understanding of their responsibilities. This clarity helps to minimize confusion and ensures that everyone is working towards the same goals. The overall effects of this business model are that productivity and revenues will increase while inefficiencies and expenses are minimized.
3 || Scalable:
A Resilient Business Model enables scalability, allowing for growth and expansion of operations without overburdening the workload or jeopardizing stability. In contrast, traditional business models where the owner is overworked and is the sole decision-maker can lead to the owner becoming a productivity chokehold. This owner-dependent approach hinders the possibility of scaling sales volume or improving the efficiency of the system because the business can only handle what the owner is capable of handling. Moreover, the business owner is often left with no spare time, making it impossible to give additional hours. Implementing processes, controls, and systems can help the business undertake more work efficiently, and with the right team, procedures, and systems in place, a business's growth potential can be exponential.
A business without a solid resilient core will eventually plateau, leading the business owner to feel like they are running on a treadmill. Most often, business owners have already attempted to hire help and delegate more, but without the right systems and team, the business has likely experienced costly mistakes. By handing off tasks to key employees and creating effective systems, you can have more freedom to focus on growing your business. In fact, there’s no limit to how large a business can scale when using the Resilient Business Model.
Scaling a business can happen once the Resilient Business Model is fully implemented. We are offering a free strategy consultation to help you gain further insights into building a scalable business. The ability to scale your business is life-changing. To sign up for this free consultation, visit www.wagnerbusinessconsulting.com/freeconsultation.
We are here to help your business thrive.
Gain perspective, get support and thrive even in the most challenging times.
4 || Attractive to potential buyers and investors:
When you started your business, it was likely worth nothing. You, as the owner, made every decision and controlled every move. As such, all of the business functions relied on you. Unless you invented something new or developed a completely new concept, this beginning level of business is not one that a buyer would consider buying because the total value is tied up in you and your hands-on work.
In contrast, a resilient business with a strong leadership team, clear strategy, and efficient systems will be worth far more because you are no longer the key player.
A Resilient Business Model, with scalability at its core, is much more attractive to an outsider. Oftentimes buyers are willing to pay a premium price (even exponentially more) for such a business as the buyer recognizes the potential for the business to grow and expand operations even further without compromising stability. The investor understands the transfer of ownership will be efficient and seamless, and operations can move forward quickly, as the success of the business does not depend on one person.
In our e-book, we explore additional exit strategies for a business that can operate without the owner at its core, such as allowing for a smooth transition to the next generation of family members or the ability to take a more hands-off ownership role in the future. As business advisors, a primary concern is the stability of our clients' future and retirement. By utilizing a Resilient Business Model, we are better equipped to ensure this favorable outcome.
5 || Increased customer satisfaction:
A Resilient Business Model operates through well-defined processes, controls, and systems that ensure products and services are delivered to customers in a timely and consistent manner. By continuously monitoring customer feedback, resilient businesses can enhance the overall customer experience and foster loyalty, which drives improved customer satisfaction and retention.
In addition, a Resilient Business Model provides the business owner with greater time freedom to focus on the big picture and explore ways to improve the customer product, expand the customer base, and cultivate repeat buyers. When your customer base is receiving value and superb service, you can ultimately increase revenue and profitability.
6 || Know where to focus:
Often, business owners find themselves constantly juggling their limited time and resources, unsure of where to focus their efforts. With so many areas of the business needing attention, it is difficult to know what is most important. When business owners are stuck in the trap of distraction and firefighting, they are usually working very hard and long hours, but may feel like they’re just spinning in circles.
Working hard and long does not mean the business owner knows the priority of where to focus. That's where the resilient business framework comes in. At its core, this framework prioritizes clarity and focus, helping business owners identify areas for improvement, create a plan of action, and monitor outcomes to drive continued success.
7 || Improved employee engagement and retention:
Resilient businesses foster an empowered culture that encourages employee growth and development. By creating a work environment where employees are given more responsibility and have a role in decision-making, employees take greater pride in their work. This empowered work environment promotes stability and security within the organization. As a result, employees feel valued and demonstrate ownership and pride in their role and are more likely to remain with the company for the long term.
When employees are more engaged and self-motivated to perform their work to the best of their abilities, the business has a much better chance of creating a strong team aligned to focus on the company goals. When a business is ready to scale, employees trust their leaders because they have learned that leadership has their best interest at heart. As growth occurs, every employee should understand their role and how they can benefit from the growth potential. The belief that a “rising tide raises all boats” can be present and strong when focusing on the Resilient Business Model.
8 || Improved competitiveness:
To be competitive, a business must be agile and adaptable to change. At the core, a resilient business is well-equipped to respond to market changes or disruptions such as new technology, changing consumer preferences, or new competitors. Because the resilient business has strong systems and leadership, the business is positioned to adapt quickly when needed.
The most extreme examples of a need for adaptability were visible during the Covid-19 pandemic. Mask requirements, capacity limitations, worker safety concerns, supply chain disruptions and more were pushing business owners to their limits as they tried to keep up with the changing demands. While many businesses failed during the pandemic, businesses that could adapt quickly had a competitive advantage.
When a business is structured around a single decision-maker, and key employees are not empowered to support the running of the business, the business may struggle to handle disruptions. The business owner may be forced to take time away from one area of the business to address problems in another area, resulting in an uneven distribution of attention. When most of the attention is directed to one area of the business, other areas can quickly become less competitive.
To address this challenge, a business owner needs to be supported by appropriate controls, systems, and leadership. This support can enable the business to adapt and change more quickly, effectively, and efficiently, ultimately resulting in improved resilience in the face of change or disruption. As other businesses flounder when faced with the unexpected, the resilient business is poised to retain its competitive stance.
9 || Better risk management:
The Resilient Business Model comprises several components that work together to minimize risk. Here are six elements that contribute to reducing risk:
A proactive approach to business ownership, which involves using metrics and other systems to gain a snapshot view of your organization. This regular review of business standing allows you to identify areas that require attention before they become significant financial setbacks.
Controls that safeguard your systems against employee or external exploitation, thereby reducing the likelihood of security breaches or fraudulent activities.
Systems that minimize mistakes and mishaps, leading to better quality output and enhanced customer satisfaction.
Processes that enable the smooth transition of responsibilities when a key employee departs, ensuring the impact on business operations is minimal. Even a key role is replaceable so the business can continue to function without disruption.
Freedom to let go of employees who are not the best fit for their role or need to be moved to another role. You need not worry about their departure or the knowledge they take with them, as the model ensures the area can still function without them.
How does your current business model stack up?
Now that you know a little bit more about how a business model can impact your life and operations… take a moment to revisit the questions at the beginning of this blog post:
What role do you truly want to play in your business?
What roles do you currently feel obligated to fulfill?
What dreams or goals do you have for your business?
What aspects of your current business model are holding you back?
How will a Resilient Business Model change your life?
Why are these changes a “must” for you?
If you’re ready to learn more about the Resilient Business Model and how to begin implementing the model today, here are our top resources to support you:
More on the blog
