When you first start your business, (I’m betting here), you dream about keeping your doors open. Everyone’s always talking about how so many small businesses fail within the first few years. If you’re an astute business owner, your goal is to probably survive!
After that, what? You want to grow.
The Many Sides of Small Business Growth
Depending on your business, that could look like many different things.
- You may want to define your processes and develop a franchise business.
- You may see an opportunity to multiply your customer base, and grow your business that way.
- You may perceive that you have multiple tiers of variably engaged customers, and so you’re products and services are divided into levels.
- You may come up with ways to break into new markets, or develop new products.
However you imagine your growth, your goal is to make it happen.
Unless you are intrinsically connected to fellow business owners exactly like you, chances are that you could use some objective eyeballs on your business. The problem with growth, I find, is that when someone sees a problem, they almost always perceive that the problem looks like one they can solve using tools they are most familiar with. The old adage applies: “When the only tool you have is a hammer, every problem looks like a nail…”
I’m not trying to disparage people who are genuinely trying to help, but a good business coach has experience with multiple types of businesses.
Besides types of business growth, the speed with which you grow can have a serious impact on your ability to survive the changes that come along with it.
The “Problem” in Growing Your Business
Think about this:
- Imagine growing so fast you cannot keep up with demand, and your reviews begin to slack.
- Your vendors can’t keep up with your growth.
- Your competition finds a way to do what you do more “cheaply” than you do it.
- Your growth fuels the fire of other collaborators who take on the challenge of recreating your product bringing multiple resources to bear. The divide and conquer while you are still going it alone.
- You take on too much and the stress takes a toll on your health or well being.
While growth in theory is a great goal for your business, in reality, growth make look and feel very different from what you imagined. Your particular brand of growth could create problems that throw you off your game if you are not prepared for multiple outcomes.
A good business coach will help you navigate through all sorts of growth. If your eye is on the prize and you are ready to press down hard on your accelerator, it pays to have someone on your side who can help you navigate the fast changes.
Ready to talk with someone who can walk you through this sobering transition? With years of experience in the areas of growth and change, I’d be honored to help you grow your small business. Why not see if working with a business coach is a good fit for you now.