Building a business isn’t a 9 to 5 and sometimes it pushes you to your limits – and further. And ultimately you keep going because it’s so rewarding - after all, you see the success every day in the team, the profits and the influence your business extends.
But it’s time for your business to grow and for you to refocus on the things you do best. This means you shouldn’t be wearing all the hats or learning things that could be better managed externally.
In this blog, we look at the three key roles that can help any business grow: a business coach, a business development manager (or growth manager) and a product manager. These can be internal or external to your business.
#1: A Business Coach
Don’t underestimate the value of a fresh perspective.
To get to where you want to be and to see beyond that, you need guidance. A good business coach will challenge and inspire you.
They'll bring a different viewpoint – a perspective tempered by skills and experience that you can put towards advancing your goals. With the right direction, you’ll navigate your way to success.
A business coach will also keep you accountable for your actions. If you make a bad decision, it’s on you, but a good coach will ensure that you have processes to follow so the chances of this are lessened. They’ll also ensure you take accountability when things go wrong so that you learn and continue to grow.
#2: A Business Development Manager or Growth Manager
A business development manager will define the growth plan for your business, coordinate and run growth programs and ensure that the revenue funnel is working smoothly. This means you can stop worrying about the small details of growing a business.
The role covers the gap between product development and marketing and their focus is on gaining and keeping customers, as well as upselling. Growth managers work with different parts of the business to ensure that growth initiatives succeed. They’re also listening out for product requests from outside the growth team.
They manage the growth priorities, which means they decide what’s most important to run and when, from product changes to testing rhythm. This takes the pressure off you, so you can focus on the parts of the business that you’re good at.
#3: A Product Manager
A project is a big opportunity – and a headache. Projects bring new systems, processes and organisational upheaval. A product manager keeps the project on track with goals, and deals with any problems that arise. They manage schedules, resources and issues alike – it takes a skilled professional to juggle both small details and the big picture.
You should be assured that the project will be coordinated and run well. Even if you have a trusted team lead, consider hiring a product manager. If it turns out to be too much for them to handle, it’ll be harder to salvage after the project is already underway. It’s cheaper to employ a project manager from the get-go. It’s true what they say – a stitch in time saves nine.
It’s also an option to outsource a project manager. It may take some work upfront to find which project management vendor is the best and most cost-effective option for your business, and for the specific project. On the other hand, an in-house product manager is a long-term financial commitment. Outsourcing puts a time limit on those costs.
Make sure you aren’t struggling to wear all the hats and plan for future success by hiring the right people to help you grow your business to success.