Growth for the sake of growth is a dangerous strategy for most small businesses. By making revenue generation the prime mission of the company, it fails to take into account how the rest of the organization will execute the product or service delivery of the increased sales.
Risks
Assuming that everything else in the company will expand naturally as revenue grows, is wishful thinking. A small group of people can do amazing things when necessary, but as a company grows the need to add additional staff. This risks destabilizing a cohesive group as new personalities are added to the mix.
Additionally, the added requirements for cash or lines of credit may not be readily available when you actually need it most.
Sacrifices
Lastly, how much of a sacrifice are you prepared to make? To be sure, success demands sacrifices, but the trick is to acknowledge what these sacrifices might be and who they impact. Then have a conversation with all those affected to ensure you have their support and understanding.
Taking your business to the next level requires a full 360 degree assessment of your current business resources, identify any shortcomings and then put a plan in place to correct them. But above all else make sure this is what you truly want.
Copyright © Greg Weatherdon 2015
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Get More LIFE Out of Your Business
You shouldn’t be the hardest working person in your company.
Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.
Greg Weatherdon has been there, done that. As an entrepreneur, he learned not only how to get a business to the point of running smoothly, but also how to reduce the number of hours he worked, delegate more responsibility to his employees, and take longer vacations while his business chugged along like a well-oiled machine. And now he is providing the secret to success.
Do you suffer from any of the following?
1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.
You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.
