Growth is great but it’s kind of like a sugar high. It’s great but it’s not sustainable without supporting infrastructure. This is called scaling, which requires funding, systems, staff, processes, technology, and partners.
Opportunity For Growth
There are opportunities that present long-term growth. Did a competitor go out of business? Do you have a significant uptick in demand? Are you the sole provider of this product or service for your area?
Cash to Put Into Growth
Can you fuel this growth? Growth is great but you have to be able to fulfill the demand of the growth you’re experiencing and that will require cash to fund the inputs required.
Systems To Fulfill Growth
The growth has to be serviced efficiently. Systems allow you to seamlessly handle the growth or uptick in demand, customer services issues, etc.
Staff To Oversee Growth
You can’t do it all. You need a staff in place to handle the growth and demand you’re experiencing. Most of this time, these positions are in marketing, sales, and customer service.
Culture That Wants Growth
You’re the owner. Of course YOU want growth, but do the people around you want it? Do your partners and employees want it? Some don’t. You have to create a culture that demands it.
Oversight & Accountability
This might be an accountant, business coach, mentor, or board that helps keep you out of legal trouble and from going bankrupt.
