There are plenty of small business ideas in Kenya and when you finally find the right one, you are excited. The thrill magnifies when business growth management goes as expected and you start reaping profits. This is the point where you are at the risk of committing a big sin: Expanding too fast. Of course, it is exhilarating and you love the fact that your startup is doing well. Plus, you have numerous startup ideas that you would like to implement and reach similar profits in each business. All this is great in the head but it can stagnate your growth altogether if you don’t do it right. That is why this has been termed as a syndrome that many startup founders suffer from.
When everything is going right, we want to make the most out of it. This is common human mentality and there’s nothing wrong with it. The mistake arises when you go with the thrill and rush into making decisions. Picking up one among the numerous small business ideas in Kenya and establishing another business or expanding your current business at another geographic location without giving it thought and without applying strategy will give you headaches that you never experienced before.
Remember that just because you are capable of expanding does not mean you should expand. Taking care of an enterprise that has suddenly seen expansion or taking care of multiple businesses is not a joke. Soon you might find yourself not just burning through the profits you previously earned but also looking for startup loans just to keep the business(es) going. You may also find yourself hard pressed to manage and do justice to all aspects. Losing focus will ultimately lead to burn out and that will crash all your small business ideas in Kenya together.
Thus, rushing into expansion is not advisable at all. Expand only when you are sure that you are ready for it. Otherwise, focus on your core business and reap profits from it. There is absolutely no need to establish multiple businesses in order to be successful. Be careful and get rid of the Expanding Too Fast syndrome immediately!
It can be tempting to expand your business or establish a couple of new ones when your core business is doing well but rushing into this can be very risky. Expanding requires a lot of thought before action because it is no small deal. Be strategic to make expansion a success.
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