When I talk with business owners about the focus of my work, this phrase seems to speak to them in a relatable way. A lot is wrapped up in these words both from a business and a personal perspective (It also kind of rolls of the tongue and is a good conversation starter). Taking each a step further:
Growth: The ability to operate profitable and increase the value of the business. It’s about developing people and processes while leveraging resources and technology in ways that preserve and expand those factors that made the business successful in the first place. It is also about the growth of the owner as an individual – changing habits and priorities in support the goals of Growth, Innovation and Emancipation.
Innovation: Having the time, focus and awareness to think strategically along with a strong, flexible operational foundation that can respond to opportunities and improvise without losing control or damaging the core activities of the business. It also means developing the entrepreneurial capability of employees – especially those responsible for allowing the Emancipation of the owner(s).
Emancipation: Reducing the operational dependency the business has on the owner allowing him/her to focus on the important – both in and out of the business. It means developing customer and employee loyalty to the business and not to the individual owner. It is about creating intrinsic value in the business and laying the groundwork for exit and succession.
No one discipline is responsible for achieving Growth, Innovation and Emancipation. It is an ‘integration’ and ‘synthesis’ of all aspects of the business – tangible and intangible. It requires taking into consideration the top-down, bottom-up, inside-out, outside-in view in charting a path from the current reality to the ideal vision. The effort is exciting, challenging and rewarding since every individual owner, business operation and market is unique. Certainly there are some common principles and frameworks – but no one size fits all. Each must work toward and achieve Growth, Innovation and Emancipation in a way that work for them.
So what’s the purpose of this post? Simply to express the term Growth, Innovation and Emancipation as the coinage of my realm. I thank my client Monty Rostad for initially ‘coining’ this phrase for our work together and then graciously allowing me to use it as my calling card.
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