Getting your mojo back: Consider these 5 questions to boost business

Most of us who are agency owners are excellent salespeople. We love that role and we invest significant amounts of time and money honing our sales skills. Do you have a similar commitment to improving your management skills? If you want your business to continue to grow year after year, this is just as important as developing your sales skills. (Credit: apana_Studio/Adobe Stock)

Every business, including insurance agencies, hits natural points in its growth trajectory where things change, become more difficult and growth slows. Dan Sullivan, the founder of the Strategic Coach program, calls this hitting the “ceiling of complexity.”

As a business increases in size, it becomes more complicated to run. What may have worked well in the past, is no longer yielding the same results. When your growth begins to slow, I suggest asking yourself five key questions. The answers to these questions will help you regain your mojo.

1. Are you feeding the business first?

On the racetrack when the driver lifts his foot from the throttle, less gas goes to the engine and the car slows down. As a business grows, its need for working capital increases. Without working capital, it begins to slow just as the car does. One of the challenges for successful businesspeople is to continue feeding the business the money it needs. Too many siphon dollars out of the company for owner lifestyle or other reasons. Every business owner wants to enjoy the material fruits of their hard work. After all, why would any of us work as hard as we do or take the risks that we do if not for the rewards?