There are three things every business needs to solve.
- Customer acquisition – how are you going to get customers? The branding, the unique value proposition, the marketing funnel, the sales process.
- Operations – how are you going to satisfy the customers? This is all about hiring talent, technology, automation and systems.
- Cash – funding the business, managing cash and profitability as you scale.
Too many customers means you need to solve the operations issues and improve it. Delayed payment terms can put a limit on growth unless you seek external cash. You might also need it for operations and expansion.
Sometimes you can solve these problems for a time, and then when its solved, you need to solve the other problems. It can be tempting to just solve the problems quickly and temporarily. Do a DIY job, but its much better to solve problems permanently, so you don’t need to solve again, if possible.
