A Glen Wakeman Interview - The 3 Pillars of Business Building
The 3 Pillars of Business Building are Growth, Execution and Control. This paradigm is applicable to all entrepreneurs when scaling their companies. Essentially all of our work stream fit into one of these buckets. But each bucket merits individual attention, planning and focus.
GROWTH In a healthy business, the focus on Growth puts the customer at the center. It also incorporates external factors and unintended consequences. Market size, competition, differentiation, value propositions, distribution, and sales practices are critical considerations for every start-up. Mastery of some, if not all is a sure fire way to reduce risks of failure.
EXECUTION Execution is about your operations. The goal is to Integrate processes, technology and people, and thus optimize performance. Defects are costs and inhibit scalability. Complexity does the same. Output shouldn’t be a series of coincidences. Rather, they should follow a controllable design.
CONTROLS Controls can be a determinant of success or failure, depending on their relevance and accuracy. It does you no good to count things that don’t matter. When determining your destination, in a forest crowded with competitors, it does you a world of good to have a compass.