As we move through the business cycle the question of whether the business should grow will come up. The prospect of growing the business can be scary to a business owner, it costs money, it’s hard work are often reasons given to not grow the business. However if you have a strong product, good systems and strategies then you are already well placed to grow.
So how do you address the concerns that are holding you back from growing?
If you believe that you can’t grow because you are irreplaceable then by default you will not grow as you are the greatest obstacle. This requires a change in mindset as you slowly let go of the reigns. Putting strong systems and process in place will relieve you of some of the burden but also give you security that the business is operating as you would like.
If you want to grow you can not do everything yourself. Employ people who compliment you skills. If you are a strong marketer but weak in the numbers then recruit a strong accountant or CFO. Don’t be afraid to outsource some parts of your business but a word of warning, ensure that your requirements are being delivered. Employing or outsourcing does not lessen your responsibility but it does reduce your workload.
Growing a business is hard, but so was getting started. It will bring a new set of challenges and require a different set of skills. Embrace the change and grow with the business, engage experts or a mentor to help you through. As you grow keep your eye on the business and adjust things as you go. Your involvement will be different but if you employ the right people and share your vision with them you will be amazed what they could achieve. The power of many may (and often does) find better ways to do things benefitting all.
In summary it is natural to be nervous about growth and taking new things on but if you face the fears head on you can succeed. The hardest step was getting started you are already half way there.