Growing a small business into an operation that generates $12MM in recurring revenue requires patience, strategic vision, a strong and capable team, unwavering focus, and a deep commitment to the success of your people.
Patience: The Key to Sustainable Growth
Growth rarely unfolds as planned. Challenges arise, setbacks occur, and expectations often need recalibration. Patience allows a leader to navigate the rocky road to success with clarity and composure. Without it, the temptation to make hasty decisions for short-term gains can be overwhelming. However, sustainable, year-over-year growth—rather than quick cash infusions—is what ultimately secures the long-term success of the business.
Strategic Vision: Staying the Course
Having a clear strategic vision is crucial, as it is all too easy to retreat into the daily operations of the business at the first sign of trouble. I have seen this firsthand with my consulting clients. A key employee departs, a formidable competitor enters the market, or personal financial pressures mount—each of these can shake a leader’s confidence. The pulls on a CEO are endless, but strategic vision, coupled with patience, ensures they stay focused on long-term objectives rather than reacting impulsively to short-term disruptions.
Building a Strong Leadership Team
Assembling and nurturing a strong leadership team may seem like a given, but finding the right people is often a challenging journey. The real challenge isn’t hiring technically skilled individuals; it’s curating a team of diverse thinkers who are willing to challenge the CEO when necessary. A leadership team that embraces diverse perspectives and engages in open, candid discussions will help chart the best path forward. The true measure of a strong team isn’t just capability—it’s the willingness to push back when required.
The Power of Focus
Focus is often misunderstood. Teachers tell students to focus. Parents urge children to focus. Bosses demand focus from employees. But what does focus truly mean in business? It’s not about narrowing vision; it’s about achieving clarity and intentionality. Each leader within an organization must have a defined area of focus, ensuring that their efforts align with overarching business objectives. Success hinges on setting clear, controllable goals that allow each individual to channel their energy into high-impact activities. Identifying the most critical levers of success sharpens focus across the organization.
Passion for People, Not Just Products
While passion for a product or service can be an asset, it is not a prerequisite for success. What truly drives sustainable growth is a deep passion for employees and clients. Leaders who prioritize the personal and professional success of their employees foster a thriving company culture. Similarly, a relentless commitment to delighting clients leads to loyalty and long-term revenue growth. By focusing on people—both inside and outside the organization—businesses can drive top-line revenue while optimizing bottom-line profitability.
Building a $12MM recurring revenue business is no small feat, but with patience, strategic foresight, a dynamic leadership team, a laser-sharp focus, and a people-first mentality, it is entirely achievable. Success isn’t just about what you sell—it’s about the strength of the team you build and the value you deliver to those you serve.
