In this episode, we have invited Jayesh Patel, the CEO of Progressive. He works as NED with companies, helping them with their businesses and growth strategies. He's got an incredible wealth of knowledge, and I'm just going to pick his brain today and chat through different things that he's learned and seen that the mistakes that a lot of business owners make, and business leaders make and some tips on how we can improve those.
Jayesh’s Background
[2:00]
Jayesh grew the business over 14 years from nothing and made lots of mistakes in building that business, including everything he sees now that other business owners make. He went off and did an MBA for four years learned how to build big businesses.
Biggest Challenges in businesses
[3:03]
The biggest challenge with these businesses is that they don't have the normal corporate processes systems and work internally. Many decisions are made by the business owner-manager, very little authority is passed down through the business. And as a result, when the business owner is not there, almost the company falls over until he gets back, and then they back up again.
One tip of not being the bottleneck.
[6:22]
The biggest laborious task that Jayesh always insists upon is to create your business plan. So why would you set the bed is not knowing the direction of travel? But in terms of what practical things they could do. Alongside that, Jayesh would suggest documenting every single process that you have in your business.
What's the common mistake in those processes?
[10:33]
These businesses tend not to have formal management meetings, no set KPIs, no processes and procedures documented, no board meetings, and no financial performance review. No KPIs against their financial performance, no business structure created their business plan to have a whole range of things that they miss, that if they're working somebody, they take for granted their own business. They don't realize that they're asked what they're offering. They're working. And so when people start their own businesses, they forget, they have to do all that.
Resource mentioned in the episode:
Free LinkedIn Mini-Course Training: www.impactforleads.com
Find out more:
- Jason’s LinkedIn: https://www.linkedin.com/in/jasonaosborn/
- Jayesh’s LinkedIn: https://www.linkedin.com/in/jayesh-patel-ned/
- Jayesh’s Website: https://rwprogressive.co.uk/
Don’t Forget:
If you’re enjoying the podcast, please leave a review.
If you know someone who would enjoy or benefit from today’s topic, hit the share button and pass it on.
Thank you so much and until next time keep… appreciate your atomic moments of impact.
Cheers,
Jason
