Expanding Your Home-Based Enterprise
Craig Warren
http://www.homebusinessesideas.com

Ever wonder why some business owners are able to expand their companies at exponential rates while others fail or worse?

Their ability to locate and run what I refer to as their “hidden” organization is their secret.

You might believe that you have no organization, whether it be disguised or not, particularly if your company is run by a “gang of one” or has a small number of personnel.

The reality is that even the tiniest firms have an organization, and your ability to identify it and then manage it to produce more of the desired outcomes will determine whether you succeed or fail.

This might be a completely novel idea to think about.

It’s simple to assume that large firms have groups.

These are the “internal stakeholders,” which include the payroll departments, committees, and employees.

However, big businesses are starting to realize that their organization’s capacity to produce high performance results also depends on independent consultants, suppliers, outsource providers, alliance partners, customers, and other “external stakeholders.”

Your company has external stakeholders that comprise your hidden organization, just as your company is a member of the external organization of your clients.

The more adept you are at identifying and using the strength of these numerous connections, the more probable it is that you will weather unforeseen economic turbulence, minimize issues, and propel your company to new heights.

Who are the members of your covert organization?

Finding the numerous stakeholders that have an impact on your company can be difficult.

It’s easy to ignore and undervalue the significance of some of these relationships, even when others are clear.

On the other hand, if you consider an external stakeholder to be any individual, group, or organization that has an interest in your company’s success, whether they realize it or not, your organization comprises, but is not restricted to:

Clients

Providers

Providers of outsourcing (payroll, virtual assistants, etc.)

Advisors (such as bankers, accountants, lawyers, consultants, and business coaches)

Partners in alliances

Subcontractors

Rivals

Trade and business associations that you are a member of

Boards of advisors

You can provide services and goods in ways you may not have previously thought of when you discover the vast array of resources, expertise, abilities, and support that your stakeholders have to give.

One specialist apparel designer, for instance, collaborated with an internet distributor to launch a global business that now serves clients worldwide.

Even rivals have discovered that limited partnerships can yield several advantages.

If you look for the growth opportunities, you will find them.

You can make your own “organizational chart” to show how external stakeholders fill key roles and tasks that are necessary for operating business, even if big corporations have organizational charts that show the responsibilities of employees and the activities of departments.

Your accountant, lawyer, and insurance agent, for example, are crucial members of your “executive team.”

Along with your clients, your firm also consists of any alliance partners, outsourcing companies, and subcontractors that might collaborate with you to provide goods and services.

Make sure to regularly update your organization chart as you continue to identify stakeholders.

Certain stakeholders will become more significant for a while, while others will become less significant for a while, depending on your personal aims, the goals and demands of your clients, new technologies, and changes in the economy.

You will be able to think of new ways to contact your consumers, grow your skills, and find new chances for greater income and profitability if you realign your organization’s vision to incorporate these and other external stakeholders.

Taking charge of and overseeing your covert organization

The next hurdle after uncovering your secret organization is to manage and lead it to meet your targets for growth.

I frequently hear from clients that persistent and unforeseen issues appear out of nowhere; I refer to this as “strategic gridlock.”

Looking back, though, we can identify the root cause of issues as one or more widespread yet incorrect assumptions that we all make about our companies based on our unique perspectives of reality.

Here are three inquiries you should regularly ask yourself while you run and oversee your covert corporation in order to start revealing presumptions, prevent snags, and expand your company:

What makes each stakeholder special?

No two stakeholders are alike, just as no two persons are the same.

However, it’s easy to take a stance when interacting with people that doesn’t accommodate these differences.

This may result in ongoing issues, particularly if their beliefs and customs diverge from your own.

Everyone will benefit more from each partnership if they are aware of how distinctive each stakeholder is.

Can my stakeholders accomplish my goals?

It’s easy for unanticipated changes in direction to occur since external stakeholders have priorities that differ from yours.

Maintaining regular contact with your external stakeholders reduces the possibility of being caught off guard by these problems and enables you to prepare for emergencies.

It also notifies you of changes that can lead to fresh chances for your own development.

Will my stakeholders follow my instructions?

Your goals and sense of urgency are not necessarily shared by external stakeholders.

You are more likely to be able to prevent disputes, make better decisions, and negotiate solutions that are a “win” for everyone if you have a better understanding of how people view your goals and how their requirements relate to yours.

Knowing who your stakeholders are, what problems they face, and how those problems could affect you is crucial to meeting organizational difficulties and guiding your company to high performance outcomes.

You can handle any possible issues from an organizational reality standpoint rather than an individual one if you regularly ask your stakeholders what they think.

Find out how effective your secret organization is.

Many business owners, particularly those accustomed to operating as “gangs of one,” fail to see and appreciate the various ways in which they can collaborate with their external stakeholders to leverage and expand their enterprises.

Since even the smallest businesses have “hidden” organizations within them, the same organizational principles apply to solo entrepreneurs and mega-corporations alike.

Once you realize that you are the architect of your own organization, the challenges of managing and leading organizations of all sizes become the same.

You can find unexplored opportunities, steer clear of organizational snags, and achieve greater success by utilizing the power of your hidden organization.

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