If you’ve worked hard and built a profitable business, there may come a time for tough decisions. Do you sit back and enjoy the fruits of your labor, or do you push forward non-stop? Should you continue to push for higher levels, continued growth, and greater opportunities? Building a business is hard work, but you deserve a break – a chance to take it easy for a while and live life. Can you have both?
Why You Need to Push For Growth
There is no such thing as “stagnant.” In the business world, you’re either on the upswing, or on a downward slope. If you think you are maintaining, holding steady — you may be mistaken.
To Attract and Keep the Best People
While most employees don’t expect to stay at one company for too long these days, there are many factors that affect employee retention and recruitment. But being dead-ended by a lack of opportunity, due to stagnation, will drive them away. If an employee needs to wait for their supervisor to retire before they can get what they need, be it advancement, money, or creative control – they may look elsewhere.
To find and Prepare for New Customers
If you’re not growing, you’re probably not adding new customers. What happens when you lose a customer? You know it’s inevitable; it’s a part of business. And yes, you may win them back, but what if you don’t? It means you need to continue seeking new clients. Wouldn’t it be better to stay prepared and add your next customer before you lose one?
To Be Ready for Next Big Thing
What if an amazing opportunity comes your way? Do you think your chances of landing it are better if you’ve been saying you will be ready, or shouldn’t you be ready before the opportunity arrives?
To keep Your Enthusiasm For the Business
Let’s face it, you didn’t build your small business because you didn’t like the challenge. You built the business, despite the challenges, or because of them. Whether you were tired of working for the man, saw an opportunity to make a difference, or had the chance to do something you wanted to do — you were driven to perform, not just sit back.
You Can Have Both — to a Degree
You don’t have to give up your life to grow your business. If you have a profit growth concern, train others to take your place. Develop or recruit team members to do what you do. Let them free you up to work on the business not in it. Train others to do what you do, then direct them. You’ll be free to learn other competencies and to take some well-deserved time away from it.
Don’t kid yourself. Without growth, your chances of failure are immense. You’ll lose valuable employees, opportunities, and maybe the worst of all — your enthusiasm. Just remember, you don’t have to do it alone.
Are you a small business owner or manager? I’d like to connect. I’m certain we share many of the same challenges and can help each other. Give me a call at 1-888-544-8051, or drop me a line at firstname.lastname@example.org. This New York Times article, Why Small Businesses Fail to Grow, offers many insights, including the idea of choosing to be GREAT instead of BIG as a viable alternative to growth.