Nothing is more frustrating than working ’round the clock and not generating an output equal to your input in your business. Granted, it’s common to invest on the front end of your business but, eventually, you want a return. You want to see the business grow.
Despite one’s best efforts to grow the business, some small business owners experience stunted or sluggish growth. Here are some of the most common reasons for slow to no growth.
No growth goal: Research shows that the only statistically significant predictor of business growth is not the industry, size of business, or length of time in business. It is the entrepreneur’s goal for growth. What’s your growth goal?
Missing growth strategy: A missing growth strategy is much like the “fire, ready, aim” approach; one in which you start firing in hopes that somehow the business manages to accomplish its goal. Your approach to how you’ll grow your business is as important as your goal for growth.
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.
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.
Maintain what or how you’re doing it. This is what is referred to as insanity — doing the same thing over and over again and expecting different results. A course-correction in growth occurs when you alter what you’re doing or how you’re doing it.
Pinching pennies. Every entrepreneur understands “bootstrapping”. Nonetheless, don’t let excessive frugality cause you to hire cheap, inexperienced vendors or to cut corners. Both come with a larger price tag than you realize.
Doing it all yourself. Although doing it all yourself commonly occurs in the start-up phase of your business, it’s not designed to be a long-term strategy. Eventually, it bottlenecks your ability to grow.
At DeltaPoint Partners, we believe in the power of people, good people whose expertise and collaboration creates extraordinary results. Through the individually developed improvement strategy, our goal is to help the business reach its full potential through a complete suite of customizable support services.
We deliver our services through a carefully selected team of partners, driving our ability to deliver our service, and help improve your results, for less than the cost of hiring an employee. Whether for reduction of expenses, acquisition or improvement of a skill or expertise, or to quickly and simply augment staff, an outsourced partnership with our firm can advance a company’s growth strategies without the burden of recruiting, hiring, or the worry of retaining additional people.
Our goal is simple, to help, where we can help.