There are many reasons why managing growth is more of a problem for startups. While starting a business is easy these days, implementing business growth strategies is becoming difficult.
These reasons are the difference between startups that are able to grow by 50% each year and startups that are stuck in a rut without being able to scale at all. Apparently, there are three major excuses that have repeatedly surfaced in this regard. Let’s take a look:
Running a business is too tedious. It takes up all my time. I have no time to develop my business.
If you are too busy running your business, you are doing it wrong. How many such businesses do you know of? Sadly, quite a few. They will disappear in a year’s time if they continue down the road. The trick to growth is to find out how to work less personally and get more business. You may think it is ironic but that’s how you will succeed. If you do all the work yourself, leaving no time for growth, you are not an entrepreneur. You are just self-employed. Bring in outside talent. Start now.
I don’t have money to hire experts or professionals.
Hiring talent is not an expense. It is an investment and you will earn a lot back when you do it right. Finance management is one of the biggest excuses today. When experts suggest that startups hire talent, startups immediately speak about how it will cost them too much and how they don’t have enough money for it. This is an extension of the first excuse. You are too busy and there’s no money. So, you do everything yourself and fail to scale.
Your business strategy must include a researched hiring process. It is the only way to grow.
This is not the time to grow
When it comes to managing growth, successful entrepreneurs don’t wait for Gods to tell them when the right time is. The right time is now. They use the resources they have and start immediately. If you keep waiting for the right time, you will wait forever.
In-depth research and understanding of these three excuses will show that they all come from the same culprit – fear. Fear of failure and fear of the unknown hold budding entrepreneurs in shackles. Break free from such fears and stop making excuses. All the best!
Managing growth may be difficult but that’s not the hindrance. A number of excuses and fears hold businesses back. Excuses such as being too busy, not having time, and not having money are the most rampant. These stem from the fear of failure and debt. Only when you break free can you succeed.