Small businesses are not just the backbone of the US economy; they are its lifeblood.

There are a whopping 33.3 million small businesses in the US, according to the US Small Business Administration—making up 99.9% of businesses. Small businesses also employ a total of 61.6 million people, making up almost half—45.9%—of the US workforce.

Irrefutably, small businesses are vital for the economic landscape of the US. They are the engines of growth and innovation, contributing a wide range of products and services to the US market and facilitating jobs for millions of Americans. They are a testament to the American Dream—the entrepreneurial spirit that underpins the American economy.

The contribution of small business advisors cannot be overstated when discussing the growth of small businesses in the US. A staggering 86% of businesses said that advisory services have significantly improved their operations, leading to a 24% increase in sales and an 18% boost in productivity.

This highlights the transformative value of an advisor on small businesses. They can provide invaluable insights and guidance that can help navigate the complex market dynamics of today, make informed decisions, and ultimately drive growth.

One of our favorite ways to facilitate effective growth is using Donald Miller’s plane analogy of a business. Put forth by American author and business owner Donald Miller, this analogy equates the business to an airplane, highlighting each part’s importance in helping the organization take flight.

Let’s explore how this analogy can be applied in small businesses, and how an advisor helps small businesses implement this in real life to drive growth.

Understanding Donald Miller’s plane analogy

Looking at the basics, here’s what the plane analogy looks like:

• The cockpit of the airplane is leadership
• The right engine represents marketing
• The left engine represents sales
• The wings represent products or services
• The body represents overhead and operations
• The airplane’s fuel tanks are the cash flow

The cockpit, or leadership, is where strategic decisions are made—determining the overall direction of the business and setting the vision. The leadership sets the course and steers the business towards its goals.

The right engine, or marketing, is how a small business can attract customers to the business. This includes understanding the target audience, creating compelling messages that resonate with them, and communicating the value of the business’s products or services effectively.

The left engine, or sales, is the process of a small business converting its potential customers into actual customers. It involves understanding the needs and wants of the customers, presenting the products or services in a way that meets those needs, and ultimately closing the sale.

The wings, or the products and services, are the actual offerings of the small business. These, as expected, need to be of the highest quality and must provide real value to the customer base. The wings are what keep the business in the air.

The body, or the overhead and operations, are the core of the business. This includes all the day-to-day business activities that keep it running smoothly—from managing finances and maintaining equipment to hiring and training staff.

The fuel, or the cash flow, is yet another key driver of what keeps the business going. It’s what businesses use to pay for everything from supplies to rent to salaries. Without the fuel, there is no staying up in the air for businesses.

This analogy helps entrepreneurs like you understand just how important each of the above aspects is for a successful business. Donald Miller himself was able to grow his business, which started with just 4 employees out of a basement, into a massive 15 million-dollar operation—increasing revenue sixfold in just six years.

The role of a small business advisor

The impact of a small business advisor is significant, as we talked about before. They bring a wealth of knowledge and experience to the table and can guide a number of key areas.

They facilitate strategic planning initiatives, helping small business owners set clear, measurable goals, identify the steps they need to take to achieve these goals and create a timeline to implement them.

They can also provide in-depth financial analysis, helping businesses understand the factors affecting their financial health and make informed decisions about investments, expenses, and growth strategies.

Advisors can also contribute to streamlining processes, implementing new technologies, or reorganizing the business structure to drive operational efficiency improvements in a small business.

Apart from this, they can help small businesses implement effective risk management strategies and conduct in-depth market analysis—helping them understand their target audience, competition, and industry trends.

How a small business advisor can help implement the plane analogy for growth

In terms of leadership, an advisor plays the role of a guide. They can provide guidance on decision-making, goal setting, and performance measurement, ensuring that the business is steered in the right direction.

Advisors are also well-versed in the art of marketing. They can help businesses understand their target audience, craft compelling messages, and choose the right marketing channels to get the most out of their marketing efforts. Their expertise can help boost the business’s visibility and attract more customers.

When it comes to sales, advisors can provide guidance on valuable strategies that can improve sales performance. They can help refine sales processes, train sales teams, and develop strategies for customer acquisition and retention, helping the business convert more leads into customers.

Advisors can also contribute to product development and service delivery. They can help small businesses identify market needs, suggest improvements to existing offerings, and guide the launch of new products or services. This is vital to remain competitive in the market and valuable to customers.

Spending and process optimization are also key contributions of a small business advisor. Their insight can help businesses achieve operational efficiency, implement new technologies, and optimize resource management.

By helping forecast revenue and expenses, advising on investment decisions, and suggesting strategies for improving profitability, advisors help small businesses manage their cash flow effectively.

Ultimately, all this advice and these strategies converge into the business, driving sustainable growth by optimizing each aspect of the plane analogy.

Employ the services of a small business advisor to fuel growth in your business

Business advisors are key to helping businesses get the most out of their efforts. By understanding the plane analogy and utilizing the help of an advisor to optimize each aspect, small businesses can see marked improvements in their growth prospects.

So, are you ready to take flight?