Peggy Niles is a Profit Strategist and Business Consultant who helps established business owners transform their companies from the daily grind to one that keeps running smoothly while the owner focuses on the things that matter most to them. She walks her clients through her 3-step Quantum Scaling System℠, a proven system to reach their 5-year goals in 12-24 months. With 30+ years of experience, she specializes in scaling strategies, leadership and process creation/management. Also, as a Certified Public Accountant by trade, Peggy always keeps an eye on the effective actions and strategies have on a business’ bottom line. She believes small business is the best way to make a difference in the world - that’s why she helps her clients grow and scale their companies, without the overwhelm or laboring endless hours, so they can fulfill their dreams and gain the freedom, and life, they’ve always wanted with the impact they deserve.
Who is Peggy Niles?
The creative, fun-loving, dancing, numbers geek turned strategy builder, mentor and expert business advisor who believes no one should settle for the status quo but should instead go after their dreams because anything is truly possible when you set your mind to it.
I have lived in Illinois, USA, my entire life surrounded by family and friends (and, of course, my 11-year old fuzzy-wuzzy Shichon, Sharpie). After all, what better thing in the world is there than family, friends and enjoying life. My circle extends beyond Illinois, though; I love meeting and working with people worldwide and feel the different perspectives, personalities and experiences are a twist that allows me to expand my horizons. In fact, I remember after starting one of my corporate jobs, every time one of the managers came back from a call, he’d say “so and so said Hi,” “so and so said Hi,” and eventually “is there anyone you don’t know?”
Now don’t misunderstand me; it hasn’t always been easy (nor is it now), but being an optimist who requires balance has helped me through those rough times. It also helped me work to identify, discover and create my “Get More from Your Business Framework.” It relates to what I wanted out of my life, and when I started my own company, what I wanted to help others achieve, that is “Get More from Your Business so you can live life on your terms.”
When I started out in my career, I was a Certified Public Accountant (CPA) working in a very old-fashioned disciplined field where working 60 hours a week was not only common but often expected. Everyone did things in the same way because “that’s the way it’s always been done,” even if there were more effective ways of doing them. That was just unacceptable to me. I didn’t want to choose between career and family; I didn’t want to work an overabundance of hours and not be able to enjoy life with the money I was making; I didn’t want to waste time, brain cells and other resources when I could figure out a more effective, more efficient way of doing things (or not having to do them at all). I most certainly didn’t want to miss out on my two sons’ lives. So in those years of working for large corporations and Big 4 public accounting, I got involved in various functions and aspects of the business, asked questions up and down the line, worked with and observed partners and CEOs in not only the companies I worked for but also my clients, all the while making notes, testing, running projects, and initiating new ideas, suggestions, and methods. [BTW, I continue to do this to this day; I believe there’s always room for improvement.]
When the timing was right, I decided to take the leap. Like many others, I got caught up in a downsizing; my bosses asked me if I’d like another position within the company, but as I sat on the beach looking out to the ocean with the blue skies and the warmth of the sun on my face (during a work management conference no less), I realized after 17 years of working with the big dogs it was time for what I had been working up to all along, helping those who wanted to achieve their dreams of building their own businesses, being their own bosses and living life as they chose. That was back in 2003, and I never regret it!
So Peggy, what do you do?
I help established business owners scale their companies by driving high performance and profits leveraging 3 key resources so they can live life on their terms without the pressure or overwhelm. Two of the best outcomes they have along the way are better management of their cash flow and the trust they have that things are still getting done within their business and done right, without their constant involvement.
Many business owners often walk this fine line between sanity and insanity because they spread themselves too thin. They become so frustrated because they have to be involved with every aspect of their business if they want it done right, and yet all of their effort and time is not showing up in the bottom line. Before they know it, they burn out and no longer have any passion for their business – they don’t enjoy it anymore. We want to get them out of the frustration - to have them make more money so they can reinvest it in their company, themselves and their causes. We want to help them avoid burnout. The problem is you start out wanting to get away from the 9-5 corporate world and be your own boss, but you find it becomes more than a 9-5 job with all the end responsibility on your shoulders. When this happens, you get caught up in the day-to-day grind and before you know it years have passed and you never actually have time to plan on where you really want to go with the business, let alone your life.
Typically my clients are highly-driven, business owners in the service industry who have been in business for a minimum of seven years, have revenue between $500K and $9 million and want to scale their companies. They fall in one of two situations: 1) they’re stuck – their business has plateaued and they can’t figure out how to break through that ceiling or brick wall or 2) they’re growing rapidly and can’t handle the capacity or keep control over the business without something falling through the cracks, either way they risk losing bottom line profits and money in their bank – all while continuing on that hamster wheel.
At Quantum Scaling℠, our mission is to empower business owners to build resilient, sustainable companies with high performance and profits, leveraging three key areas: numbers, processes and teams. We strategically guide them in scaling their companies using a holistic business approach. In fact, at the end of the day, we not only help them drive high performance and maximize their current profits, but we position them for a profitable exit when they’re ready to let go.
So how does your “Get More from Your Business Framework”℠ work? It’s a 3-phase process:
Phase I – our “Figure It Out Bootcamp”℠ where we take a deep dive into your company, conduct our “Ultimate Company Check-Up”℠ and figure out what’s working/what’s not/where the hidden opportunities are, as well as discover what you really want to achieve through your business; then we identify the action steps for you to take right now to gain momentum in moving forward with confidence.
Phase II – our “Get Ahead of the Game” phase where you get ahead of your competition and your own timeline by gaining clarity and creating your customized “Performance & Profit”℠ Roadmap to your long-term vision or as I like to call it, your endgame.
Phase III – it’s time to “Get It Done” using our “On-Track Method”℠ when we’ll strategically guide you through the execution of your roadmap to scale your company, hold you (and your team) accountable and reach your five-year goals in 12-24 months.
What do you think is the main reason most businesses don’t succeed with strategic planning?
They fail in the execution. In fact, 59% of business executives admitted their organizations struggle to bridge the gap between strategy design and implementation. I have found this is a result of two things: focusing on the wrong things at different stages and lack of accountability.
What do you think is the #1 reason business owners may hesitate to hire an advisor such as yourself for scaling?
Time; some have a misconception that our process and work together is going to take so much time when in fact it saves them time. Now when I save them time, I don’t only mean hours in their days or weeks (although we do this), but also from the perspective of reaching their goals in half the time. If given a choice between laboring endless hours constantly sidetracked with distractions, responding to issues, and spinning your wheels OR acting on the things that give you more control and influence on your company and your life, which would you choose?
Did you have a mentor?
I have had, and currently have, mentors. I’ve learned along the way if you want to achieve greater things faster, hire someone who can give you a fresh perspective, share experience and challenge you to step outside your comfort zone. I have to say, though, my best mentor was my dad. I was so lucky to have the dad I did. He never gave himself credit for all of the knowledge he had and he was so humble about helping others. He made a great impact on hundreds of lives, and if you had asked him, he probably would have denied it.
Have you ever received a compliment that sticks in your mind to this day?
I had one client years ago that after tremendous growth, wanted to bring the position in-house. When I told them I wasn’t interested because I enjoyed helping all of my clients, they said they “wished they could clone me.” I still do work for them (on a different scale) to this day, but wow, cloning me – that was a tremendous compliment.
What is your big goal?
Our long-term vision is to help 1000s live their dream lifestyles through their business, and by doing so, help them to make their mark or impact on the world. As I eluded to earlier, we don’t want anyone accepting the status quo; we want to empower them to dream big, to stop saying “If I could” and start saying “I will….” OR “when I…” so they actually achieve success as they define it for themselves!
Where do you see yourself 10 years from now?
Well, I don’t ever see myself ever fully retiring because I love what I do, and I love connecting with people, so I will expand our company globally. I do see myself working more from a beach as I travel to new destinations enjoying “semi-retirement” with my husband, and speaking to business owners around the world. I can guarantee I will be experiencing life at its fullest, continuing to challenge myself and trying new things.
Do you have any tips for those business owners out there reading this interview?
Yes, my top three would be:
It starts with the mindset – you don’t have to settle for the status quo;
Always operate with your endgame in mind; and
Take the complimentary “Profit or Plateau” Assessment at quantumscalingstrategies.com/profitquiz to discover which direction you’re headed.
How can you be reached by business owners that want to work with you?
Feel free to reach out and set up a complimentary breakthrough session with me at quantumscalingstrategies.com/growthdiscovery. Follow me on Facebook and connect with me on LinkedIn. For more info, visit my website!