All business owners want to grow their dream into a reality. Most new business owners have taken the leap because they are tired of being told what to do and when. But also, so that they can run a business the way THEY want to. The problem sometimes is, when a business grows too rapidly, without any thought of the future, it becomes a treading water scenario where you are doing so much work to keep things going but have no time or energy left to scale up, implement new processes or even sleep!
What are the benefits to a sustainable growth in your business?
Help you find a balance!
Work is not everything. Do you live to work or do you work to live? Sometimes we can so easily shift from one to the other without realising. Sometimes work can pick up and before we know it we are working 12 hour days and sleeping in our desk chair! Not comfortable or advisable! A sustainable growth in our business can help us to not only see patterns in when work may pick up or drop off, but also plan for these times. This will help us to not be caught out when these times come along.
Future-proof your business!
Having a plan in place about when to scale-up your business processes can help to ensure your sanity when it comes to a work life balance. But can also mean you have thought about the big decisions you need to make in advance, meaning you don’t hastily run into anything. Futureproofing means looking into procedures, systems, assistance BEFORE you need it! This gives you the time to think about different products and services and what best suit your needs. Having an idea of when you will need or want to scale up and implement these things will see your business well into the future.
Steady growth rather than monstrous
Every business owner deep down wants their business to make all the money they can by day 2 of trading. Positive, but not realistic. Realising that growth needs to be steady rather than monstrous will ensure that YOU are always in control of your business, not the other way around. Yes, at the beginning this may mean delaying work or turning business away. But ensuring steady growth will mean that all of the other points are covered. It will also ensure that your business processes, software, hardware and even staff levels are steadily increased rather than depleting your cash reserves all at once. It is a lot easier to hire 1 person every few months than it is to hire 5 at once while you have a ton of work to do!
Positive cashflow
Steady growth will also ensure that you have good, positive cashflow. Cashflow can’t be measured in any of the lovely accounting reports we like to use. Yes, some software is becoming quite clever with it, but unfortunately, they still can’t accurately tell the future! Ensuring a steady growing income as well as then any new necessary growing expenses will mean you can afford to invest the extra in your business while still taking that ever important wage for the food on the table!
These are all brilliant benefits, but how to achieve it?
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Caio for now!
Luke