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With a strong tall pillar and a short weak pillar, the foundation is uneven

In order for a business to prosper, five well-functioning pillars need to be established. These pillars form the foundation of growth for your business. Each pillar requires equal time and energy to create a strong core that will lead to future success. Focusing on one pillar or another creates instability and could ultimately hinder your business expansion. These five pillars are:

1) Sales/Marketing
2) Finance
3) Operations
4) Executive Leadership
5) Team

Now, think of your business’ best functioning pillar. As a small business owner, it may be the one you enjoy the most or maybe it is the one you are the best at performing. Now think of the pillar that is shortest and the weakest. Are they given the amount of attention they both deserve? Are you able to devote the time to make each a top priority? With a strong tall pillar and a short weak pillar, the foundation is uneven and has a risk of falling. All the pillars need to be the same height and the same strength in order to carry the weight of growth.

For the next five months, we will dive into each one of these pillars in more depth. Do you have these pillars established in your business? Do you have a plan to strengthen and chart a course for how they will function? If you are self- employed, you probably perform all of these tasks. However, if your goal is to grow your business, these tasks need to be strategically reassigned at a certain time and even in a certain order. You can’t productively do it all! As you begin to personally let go of some daily control and redistribute functions across multiple resources, you’ll begin to shift the control to the business processes instead of placing the entire burden on your shoulders.

I would love to hear about your pillars of strength in your business and what you did to make them strong. Also, where are the weak pillars in your business and how do you plan on strengthening them? You can reach me at jason@storenfinancial.com to share your thoughts.

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Blog by Jason P. Bailey, CPA – Business Services Manager, Senior Tax Professional

Learn more about Jason and the rest of the Storen Financial team here.