When I first engage with a client and see their company I am looking for one key ingredient and that is; momentum!
It is the x factor in a business that will lead to attracting more business to a company and more excitement in the market than any other ingredient.
If you want to make more money, develop more momentum. If you want to sell your business at a good price, develop more momentum. Everything starts and ends with how much forward movement you can develop in your business.
When you walk into a room where people are excited and have a great future ahead you can feel the increase in energy. You want to be involved in their vision and investors sense this level of urgency as soon as they meet the prospective CEO or directors.
2008/9 have been extremely difficult years for everyone involved in business, but through it many have turned tragedy into triumph and some people have found the champion inside themselves that they never new was there.
If you read literature about successful entrepreneurs you will find countless stories about people who were stuck in or inherited businesses that were going nowhere and taking them along. They desperately needed investment but they were not likely to attract it without a huge push forward.
Gert Boyle from Columbia Sportswear is one of the entrepreneurs I think of when I speak about momentum. She lost her husband and took over the family business with her son, who was at University, close to bankruptcy. They took some radical chances and built the company into one of the leading brands in the skiing and apparel industries and then took it public.
Learning from the best we can find one common denominator they developed momentum, they didn’t put up with the status quo they took what they had and put it all on the table and moved forward with a new strategy that would make the company more money than they could have dreamed of.
John C. Maxwell talks about “the law of the big mo” as one of his 21 Irrefutable Laws of Leadership in his book by the same name.
“The Law of the Big Mo basically says, ‘Momentum is a leader’s best friend,’” John Maxwell
If you want an investor to come with their check book open, develop momentum. Drive sales forward, empower your team with good rewards, but as a ceo and director, be the companies champion yourself. It is hard work, but as a shareholder you will be well rewarded for your effort.