Grow your business or……

I find two prevalent, small business,  management philosophies; the  first, keep your business as it is now, and second, plan to grow your business.

In the first method, the business owner is satisfied with the income the business produces and his goal is to maintain what he has. The planning, if any, is more of a defensive plan. Businesses that have this mind set have a much greater risk of failure; status quo  does not define a business, it defines a “dead end” job. In a non- growth business, any small deviation could sent the business into a tail spin and the owner losses his self created job. Without a plan for future growth, the enthusiasm level that created the business will disappear and failure will follow in spite of struggles to keep the business afloat.

With the high failure rate among new business, some figures are as high as 85% in the first five years, a reason for the failure has to be identified. I believe that the reasons are a lack of business education and the second, a lack of desire to grow the business.

I challenge you to take some time and look at your business from a growth position. Let’s say you want to triple the size of your  income in the next year, what would you have to do? What would your business look like? By answering those two questions you are visioning a different business. If you implement the answers to those two questions you will once again spark that enthusiasm that helped you get your business started.

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Without continual growth and progress, such words as improvement, achievement, and success have no meaning.