Why Do Businesses need to Grow?
When your business consistently sells something over and over, you get pretty good at it. The better you get, the more likely a customer will want to buy from you. In business, as in life, nothing ever stays the same. As your marketplace environment changes, your business will either grow or shrink. The choice is up to you. Setting out on a path of constant improvement usually produces continuous growth - up to the point where your product naturally saturates the market. There are some wonderful benefits and opportunities associated with a growing business. You will gain more knowledge about yourself and the markets. Your business will become more efficient. That dynamic produces more profit which can be used for investment in both infrastructure and people. You’ll also find that in general, employee morale is better in a growing company.
There are however some downsides and pitfalls to growth. Change can be difficult for both you and your employees. You will learn very quickly what you and your company does and doesn’t do well. You’ll also find that events happen at a faster pace as you get more and more sales. So it may be a challenge to manage everything as you grow.
Take the next step towards growth
If you're struggling with keeping up with your growth of finding growth opportunities, schedule a free 30 min conversation with barney to move your business and career forward.