Tuesday, December 4, 2012

Growth vs. Standing Still in Business

Be not afraid of growing slowly; be afraid only of standing still. -
Chinese Proverb

I consult many business owners on their operations. The number one complaint that I hear is "not growing fast enough." I always respond with "why not?" You see, many of my clients can answer this own question. They have the strategy inside them and they usually know why they aren't gowning fast. Logistical, capital, and/or staffing issues are mainly to blame. But, growing too fast isn't always a blessing either. And, usually for the same reasons I just listed!

Any growth in business is good growth. If it is slow, don't fret. You need to be worried about lack of growth more than rate of growth. This holiday season, at the time when most business owners are prepping tax forms and writing out bonuses, ask yourself about growth. REALLY consider the rate of your company's expansion. Are you growing? If so, know that the business is alive. Then, hire a consultant (like myself) to address the rate of growth, resources, and even an exit strategy. Hey, growth is good but you have to be prepared for an exit too- even in the case of TOO much growth.

And, remember; before you commit resources and funds to growth, see what you can accomplish without making massive changes!
Twyla

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