Growth is like a wheelbarrow, it won’t happen until someone pushes it.
A better business can be better than growth.
After growing at a rapid rate for the first few years, your business may hit a plateau and you find everything is getting too hard, the fun is diminishing.
You’re sure the economy isn’t the main problem, but there is something you can’t come to grips with and you are starting to feel all alone.
Home-based micro-businesses are where most businesses begin and the vast majority of businesses are micro-businesses. They are often one-person, or husband and wife businesses.
If the owner becomes sick or dies, the business falls apart because the biggest challenge with a micro-business is keeping a steady stream of income, when you are the chief cook and bottle washer. You know people who would help but, no one who could manage the business for you. If there was a problem, it always came to your attention.
People sometimes get into trouble because their businesses simply don’t make enough money to employ the right people and acquire the right skills.
With those who do want their businesses to grow, the ability to acquire the capital needed becomes perhaps the biggest issue. It’s hard to borrow money for an immature business or idea, most lenders are adverse to risk and what they don’t understand.
For many micro-businesses, there is never enough time or money to grow their business. Many have no time to think and act strategically as they struggle to find the time away from the day-to-day tasks.
“People are like dirt. They can either nourish you and help you grow or they can stunt your growth and make you wilt and die”. Plato
If you choose to maintain your current size of business, then it can be just as hard to implement new practices that will stabilise the business and put it into a profitable and sustainable position.
Those who choose to grow their businesses are able to put themselves in a better position to add value for an eventual sale of the business. It is necessary to grow the business so it can run successfully without the day-to-day efforts of the owner.
You sometimes have to take extreme measures in order to do what’s necessary to get the job done, like making a commitment to do what it takes to get your marketing right or to obtain the right amount of working capital. If that means working longer hours until it is done, or outsourcing pieces of your operations where you don’t have the expertise or time, to do, then you just have to do it.
The traditional small businesses usually have two to 20 employees and become a little more complex when you start to grow, because you move into a role of supporting or, supervising employees, which is something you may not want to do. Your comfort zone might be comfortable, but nothing much will grow there.
Even today we say if you are to gain more market share, in order to grow, then someone else has to lose it. This is a sure sign that growth is slowing in many areas. Almost daily I read an industry expert that delivers their best guess as to when the growth bubble will burst.
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Over the years I have encouraged many businesses to grow. I have encouraged others to stay the same but improve the way they are running their business in order to be more profitable and sustainable.
Either way, we all need to do things differently in this ever changing global world, or face the consequences.
I am not anti-growth but, can the world population keep growing and growing along with all the businesses and organisations needed to support it.
There must be a limit to the population the earth can support and when this limit is reached there will be no need for more growth.