Despite one’s best efforts to grow businesses, some small business owners experience stunted or sluggish growth due to reasons that vary from businesses and owners personal attributes.
Doing it all yourself commonly occurs in the start-up phase of every small business, it’s not designed to be a long-term strategy. Eventually, it bottlenecks your ability to grow. At Image Boosters, we have worked with several clients and I can categorically highlight why I think small businesses fail to scale.
Growth is never by mere chance; it is the result of forces working together.” It is normal to invest in your business but, eventually, you want a return.
Here, I have outlined some of the most common reasons for slow to no growth from my experience as a business coach and owner.
1. No growth goal: it has been proven severally that the growth of a business is not by its industry, size of the business, length of time in business, it is the entrepreneur’s goal for growth.
2. Growing alone: Nothing grows in a vacuum. Little to no strategic interaction with like-minded entrepreneurs’ stifles growth in a variety of ways, including loss of creativity, blind spots, and diluted self-confidence. With limited interaction with others, small business growth begins to suffer in a multitude of ways, including loss of creativity, blind spots, and weakening self-confidence.
3. Ignore advice: Most business owners are protective of how they choose to run their business. However, when sought-out advice is ignored, it merely keeps you stuck. As a business owner, I try to listen to people’s especially those in my field and at the time this helps me not to get stuck. The best advice you never want to ignore id to identify your business strategy.
4. Maintain what or how you’re doing it: This is what is most business owners do, you keep doing the same thing over and over again and expecting different results how is that possible, as an entrepreneur you should be opened to change and be flexible, of you are rigid it is so impossible to take on new ideas. As an entrepreneur, I try my best to be as flexible as possible.
5. You Don’t Have Specific Goals: If you want your business to grow, you need to predict the scenarios in which it would grow and then make one of those scenarios happen. If you just keep working without thinking about the future and where your business will be next year, you will stay at the same place you are at now. Create a plan for where you want your business to go and how you can reach those goals. Have specific deadlines for goals that you want to meet each month to keep you and your staff on track.
6. You probably don’t have a Better Marketing Plan: You can’t gain new clients and sales if people don’t know where to find you, or even that you exist. Continually focus on getting your name out there. Focus also on good public relations and customer reviews. All of these things will help your business grow and expand to its highest potential.
Anyways, are you ready for the good news? These highlighted points are easy to correct…
If your business hasn’t grown the way you want it to, it’s likely that several or more of those points apply to you. Remember “Strength and growth come only through continuous effort and struggle.”
The question is, what do you plan to do about it? In my experience, people who identify their business needs help fall into one of two broad groups.
1. People who find the information interesting, but start looking for excuses to do nothing about it. They will say they lack the time, the money, etc., etc. Sadly, this group is the largest by far.
2. People who also find the information useful, but look for reasons to improve things, rather than excuses not to. They will then work on making the improvements required and their businesses will grow accordingly.
I hope you found this information useful. However, my real hope is that you do something with it.
Lastly, if you are confused and need help, talk to us at Image boosters. You can’t gain new clients and improve on sales if people don’t know where to find you, or even that you exist.
Image boosters’ main objective is to Continually put your name out there so you can exert all your energy on the core of your business, focus also on good public relations and customer reviews. All of these things will help your business grow and expand to its highest potential.