How is a shed business like a bus trip? The answer might surprise you.
Starting and operating a successful business can be both a terrifying and thrilling experience, not unlike the bus ride I experienced many years ago through the Serra do Mar mountains of South America in the middle of the night.
I remember the exhilaration and the fear of watching out the bus windows at the towering mountains and the chiseled valleys far below as our driver sped through the night with little regard for the comfort of his sleep-deprived passengers or the sensitivity of their discombobulated digestive systems. The driver was the only one on the bus with a “vision” of what was to come.
Most businesses are the result of someone with a vision and a dream. However, to truly build a business that lasts takes more than visions and dreams. You will need to pay attention to your operations and financials, or your business bus may end up as a heap of roadside scrap, stopped far short of its intended destination.
To ensure this is not the outcome, let’s take a tour of the ideal business bus and learn some tips to help navigate our trip successfully.
All About People
We have all heard the phrase about everyone being in the people business, and our bus is no different. However this is not my emphasis for today.
I have seen, firsthand, the joy of filling a bus with the right people and working together to help them find the seat best suited for their particular abilities and personality. In my current role as a business leader, I am surrounded daily by the best team I have ever known, and I’m deeply grateful for the opportunities I have been given on our business bus.
Move Forward
No matter the size or the style of your bus, it is most definitely not designed to sit idle. A bus is for journeys and reaching destinations.
The same is true for your business. If you are not moving forward, it’s a good idea to figure out why. If you find your business bus is stuck, don’t be afraid to reach out for help.
As a believer in capitalism, I believe businesses should be successful and should produce a healthy profit. As a follower of Christ, I believe business is a wonderful vehicle for ministry, and I don’t want to see them be unsuccessful, wrecked, or stuck.
Clear Vision
Having a clear windshield on the business bus is vital to ensure that the visionary, as well as all the other members, can catch glimpses of the destination. In addition, the clear front window allows the driver to avoid ditches and potholes or any other obstacles along the route.
In practical terms, the numbers we see out the front window are considered leading indicators. Examples include marketing efforts, sales calls, new leads, or customer orders. These types of key performance indicators, or KPIs, tell us where the bus is headed.
At the same time, a clear back window is necessary to make the bus journey successful.
Knowing what has already happened can certainly dictate future destinations for the bus. These numbers are typically called lagging indicators. Examples of lagging indicators are revenue, sales volume, customer retention rates, or satisfaction ratings.
Leading indicators typically show us what is likely to happen, while lagging indicators tell us the story of what is happening or what has already happened. Both are important for a successful bus trip.
When you tie all the numbers together, a successful trip is not only possible, but it’s a likely outcome. Make sure the people looking out the front window communicate and hear regularly from those looking out the back window, and vice versa.
As a business owner, it’s critical that you understand which is which. Imagine trying to drive a bus while looking out the back window. We all know that’s a recipe for disaster.
On the other hand, don’t get so focused on the front windshield that you ignore what’s being shown out the back of your business bus. If you see lagging indicators that show deep tire ruts, it may be time to add some power to avoid getting bogged down in less-than-ideal road conditions.
If a lagging indicator such as units sold is not showing you the data required for success, it may be time to move your business bus to a new road. KPIs such as revenue or units sold are unique to each bus, so don’t get stuck in the trap of comparison.
Road Conditions
Business owners typically don’t get to dictate the current business environment they operate in, just as bus drivers cannot always dictate their driving conditions. In either case, a good visionary peering forward can help determine the upcoming road conditions and make the adjustments necessary to avoid becoming another heap of roadside bus wreckage.
If you see a thunderstorm approaching, it would be a good time to ensure your wipers are functional, there are no leaking door seals, and your tires have enough tread to accommodate wet highways. In business, this would be to make sure you have sufficient cash reserves or retained earnings to avoid being wiped out by a passing storm.
Navigating Mountains and Valleys
As with a bus journey, all businesses have ups and downs along the route, and we should not be surprised at the mountains and the valleys we encounter.
However, as the business owner, ensure that preparations are made in advance to prepare your business bus to keep moving during both the “down” phases as well as the “up.” You may have heard the phrase “leading through the dip,” and this is exactly what it means.
If your endeavor is to lead your business to greater heights of success, but you find yourself riding the business bus headed downhill, your instinct may be to tap the brakes, take a pause, and see what’s going on. Instead of giving in to your instincts, lean into the dip and press the accelerator. The momentum of pressing ahead through the dip will lead you to better acceleration up the next hill.
Last Leg
Above all, keep your business bus fueled up, keep it on the highway, obey all the traffic laws, and don’t forget to enjoy the journey.
While this story is about a business bus and not a party bus, don’t forget to have some fun along the way. Your people deserve some downtime now and then or they might be tempted to leave your bus and find a fun one to join.
Keep your people happy and fulfilled and they will keep your business bus humming for years to come. Enjoy the ride!
