The past couple of years have challenged us to find new ways to connect and innovate. While our ability to move around freely may have been limited during COVID lockdowns, our creativity was not. Many of us rediscovered the joy of cooking, engaging in meaningful conversations, and spending quality time with loved ones.

But what about our businesses? Did we apply the same level of creativity and innovation to our professional life? Did we leverage our business “bubble” for future plans and exciting possibilities?

During the COVID-19 pandemic, we adopted this new term: “Bubble.” The term referred to the select group of individuals we chose to remain close to during the initial stay-at-home phase. Just like your personal circle, your business team is made up of people who really understand your business inside and out. Your business bubble consists of your management team and advisors who give you honest, practical advice to help you achieve your business goals.

Here are some ways your business bubble can help take your company to the next level:

  1. Positioning for Growth: Your team can help position your company for growth through acquisitions, product/service expansions, or entering new markets.
     
  2. Succession Planning: Planning for a successful exit strategy is crucial. Your bubble can guide you in positioning your company for a smooth transition.
     
  3. Operational Efficiency: Implementing systems to increase efficiency and profitability is essential. Your team can offer insights and strategies for streamlining operations.
     
  4. Strategic Thinking: Having strategic thinkers, implementers, and integrators on your team can balance your approach to business and drive growth.
     
  5. Diverse Perspectives: Ensure your bubble includes voices from various departments such as sales, marketing, operations, HR, and finance to provide a holistic view of your business.
     

These objectives are key to the growth and success of any business.So, take a moment to evaluate your business bubble. Are there voices missing? Are there areas where your team could be strengthened? Who are the strategic thinkers, implementers, and integrators on your team, balancing out your approach to your business?

Your business bubble is a valuable asset that can help you navigate the complexities of entrepreneurship and position your company for success. By leveraging the collective wisdom of your team, you can unlock new possibilities and drive growth in your business.

Legendary basketball coach John Wooden once said, “Whatever you do in life, surround yourself with smart people who’ll argue with you.” This sentiment holds true, especially when it comes to surrounding yourself with a strong business team. Evaluate your business bubble, make any necessary adjustments, and set your company on a path to success.

Let’s connect to discuss how I can help you maximize your business bubble and drive growth.
 
 

Your CPA Shouldn’t Be Your CFO!

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