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Small Business Growth, Small Business Success, Motivation

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You’ve decided to get serious — really serious — about growing your business. Now what? Do you keep doing what you’re doing? Do you work harder? That’s what you are doing and it’s not working. You need a different approach to achieve a rate of growth that is sustainable.

Now that it’s crystal clear you can’t continue down your current path of business development, it’s time to make some tough decisions. Are you ready?

1. How will you grow? That’s not a trick question. We’ve already established that working harder isn’t an option. What other options are on the table?

Do you grow by introducing new products/services for new market segments? Do you enhance your core business with new products/services that are an extension of your current product/service line? Or, does expanding your current product/service line in your current market make sense?

The choice is yours.

2. What will you eliminate? Let’s be honest. We’re all involved in activities that consume our time and don’t budge the needle for growth. We cling to these activities in hopes they pay off — someday.

Guess what? Today is the perfect day to dump all non-growth producing behaviors, activities, engagements, and programs!

3. How will you fund your growth initiative? Where can you make smart cuts in your budget to allocate the funds needed to launch your growth strategy? And, by smart cuts, I mean slash fat and gristle without cutting into the bone or meat of your business.

Eliminating what’s not contributing to growth (See #2) is the perfect source of cash to re-allocate to growth.

4. What can you outsource? Any activity performed by you, Mr./Ms. Small Business Owner, which is not tied directly to your core business is on the chopping block to be outsourced.

Bookkeeping, website updates, paperwork…whatever you’re doing that can be done by someone else (who is likely more skilled) is up for outsourcing.

Even though you’ve honed your skills in these areas and can perform these activities masterfully, doesn’t mean you should…especially if you’re serious about growth.

5. What additional support do you need? “No man (or woman) is an island.” Bringing in outside help that is highly skilled in their area of expertise expedites your growth — especially when you can’t afford to get it wrong.

Nicholas Sparks said, “Nothing that’s worthwhile is ever easy.” That certainly pertains to the tough decisions ahead. When everything is said and done, you have two options — grow or don’t grow — and only one choice to make.

Want to read more about growing your business?

Entrepreneurs are notoriously optimistic people. Their forward-thinking optimism likely sparked their entrepreneurial launch and inspired others to join their dream. Add the fierce desire for independence and the ability to call the shots and you have a perfect mixture for an entrepreneurial tidal wave – or do you?

Optimism while running and growing a business is a must. It gets you out of bed in the morning and keeps you scurrying throughout the day despite whatever is going on around you. Nevertheless, could too much optimism be hurting your business growth?

As a business strategist, I’ve seen many overly optimistic entrepreneur. Although an appealing quality, too much optimism can challenge business growth during the first stage of business growth and development – Core Business Development – when laying a solid foundation for your business can make the difference between success and struggle.

Here are the 3 drawbacks to an overabundance of optimism:

  1. Neglecting vital research. Overly optimistic entrepreneurs are easily caught up in their own genius. Failure to carry out the due diligence needed to make sure you develop the right product or service for the right marketplace at the right time has devastating effects on business growth.
  2. Ignoring warning signs. Entrepreneurs who view their business through rose-colored glasses often overlook early warning signs of trouble. A delayed response to early warning signs costs more in time, energy, and money to execute a successful turnaround before it’s too late.
  3. Disregarding business-saving strategies. Along with failing to heed early warning signs, dismissing strategies to get your business on the right track create a downward spiral that can make recovery difficult. Overly optimistic entrepreneurs find it easier said than done to trust proven strategies over their optimism.

Every entrepreneur needs a healthy dose of optimism to get them through both good and bad times in business. As long as you don’t let an ample supply of optimism get in the way of being smart and strategic about your business growth, you’ll be just fine!

Ready for More? Here are a few more blog posts we think you’ll like:

10 Common “Growing Pains” of Stage One Business Growth

The Four Stages of Growing Your Business

Business Metrics: If You Don’t Know it, You Can’t Grow it

5 Smart Businesss Strategies to Set Yourself Up for Success

Become a Strategic Thinker for Your Business

Core Business Assessment


Brooke Billingsley

Vice President
Perception Strategies

Synnovatia is a strategic coaching firm that is detailed and knowledgeable about business. i have a small business that grew from $150K to $750K because of the goal setting and resources that Synnovatia provided. It saves me years of learning on my own.

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