Growing a business profitably is not something that comes naturally to many with technical backgrounds, even if they have risen to the highest ranks in a firm. While some have natural business skills, those skills must be stronger than their competitors. Otherwise, they are at the whim of economic trends and ever smarter competition.
The landscape is littered with the corpses of once-successful firms that overextended or pursued badly flawed growth strategies. That said, the changing economic landscape will offer numerous expansion opportunities for firms that approach growth sensibly and strategically.
Would you like to overcome this technical-mind limitation to business? Engineers, architects and scientists are an intelligent group. Is solving this just like solving a project challenge? Take a pause. Isn’t this your ego talking?
A wise man once said “any ego is a bad ego as nothing productive will come from it”. How many times have you seen the do-it-yourself approach work? As a technical professional I have done this, and it worked. But only after lots of pain, suffering, re-work and busted budgets.
The truth is that preparing for a bright business future has to be done the right way, with continuous learning, not just a one time program.
For further perspectives and ideas that may help you to contribute in your position, leadership or not, take a look at my article published by Industrial Magazine. The article reviews concerns identified by over 100 CEO’s at a recent national conference for professional services design/construction firms, and provides solutions. You will find this article fresh and relevant.