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Salt Lake City Bookkeeping Blog

Are You Truly Ready To Grow Your Small Business?

Posted by Matt Roberge on Oct 12, 2012 7:53:00 AM

It seems like the #1 concern for every small business owner is how to grow. So they do. They learn to sell and grow. They hire more people and grow. Bigger, better, stronger... or is it? Every small business seems to want to grow; the question is, are they ready?

Are You Ready For Employees?

Hiring your first employee is a huge step. I have to say, after hiring our first employee a few years ago, I don't regret a thing. However, it could have gone in a totally different direction. Hiring an employee is stressful and managing an employee can be a pain. Hiring an employee sometimes does not work out for a solopreneur because they are used to doing everything themselves. They spend their time micromanaging their employees rather than delegating and focusing on sales and growth. If you are planning to grow your small business and are planning on hiring employees, just make sure that you are ready to let go of some of the operations.

Why Do You Want To Grow?

I wrote a guest blog post recently that defines my sales style. However, within this article is a pretty personal issue I have with a lot of businesses. Why do you want to grow? Read the entire article, but in particular read the section titled selling with purpose. Now if I ask you, "Why you want to grow your business?" do you think you can honestly tell me why? Not because you want to make more money or retire, but the REAL reason? It is a truth that is deep down inside of you and is going to take a lot of thought to uncover. I'm not sure that most business owners know why they want to grow. However, if you can truly define why you want to grow your business, it makes the growth process more natural and your goals more easily attainable.

Will Your Business Grow Into Something You Hate?

Will growing your business make you hate it? I can't tell you the number of business owners or former business owners I talk with who tell me how growing their business past a certain point was the worst decision they ever made. Dealing with too many employees and clients caused them to crave the simpler days when it was just them. Back then, there was nobody to worry about or blame or praise but themselves. They will tell you the ultimate business horror story that drove them to where they are now: back on their own. Maybe they made a critical mistake and maybe they didn't. Maybe they were cut out for growth and maybe they were not.

Can You Deal With Failure And Rejection?

Many entrepreneurs fear failure and rejection; the problem is, they are going to have to experience it on some level. Thinking that you will start and then grow a successful small business without having some failures and rejections along the way is unrealistic. Fearing rejection and failure is admitting defeat before you even face it and those negative thoughts have no place in entrepreneurship. Successful entrepreneurs know that they will face failures and rejections along the way, but they are also equipped with the skillset or mindset to rise above them and succeed anyway.

So, you are ready to grow your small business, right? Just make sure that you really want to grow your small business before you take that next step.

If you want to chat about anything along your growth path I am all ears.

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Topics: Small Business Bookkeeper, Sales Advice, Small Business Growth, Sales, Grow Your Business, Salt Lake City Bookkeeping