No matter you’re reasoning or rationale for deciding to become an entrepreneur or a business owner, a natural born desire for your business should be for growth and development. Once you’ve stabilized yourself and the startup excitement has passed, your next step will be growth, development, and sustainment.
Sustainment is added because your growth and development means nothing if you are unable to keep up with the demand of your product or service.
In this day and age, consumers are rarely acclimated to waiting. We are a microwave generation, wanting things quick, fast and in a hurry. When items are not or cannot be received in this manner, we lose interest.
With that being said, let’s talk about growth and development.
How can you grow and develop your business while remaining efficient and effective? The answer is simple, learn the wants and needs of your consumer.
Implementing new products or services means nothing, if the demand doesn’t exist. Master the concept and understand the rules of supply and demand, by doing so, you can properly gauge how to smartly scale your business. After all, your business success depends on your customers anyway, so why not take the time and interest in learning what they want.
Another intricate part of business growth and development is confidence.
If you do not believe in your business, product, or service, how can you expect anyone else to? Although times will get tough, never express doubt or a lack of confidence. Support and believe in your brand no matter what. If you have employees depending on you, allow them to see a leader that they can trust.
Next, get used to hearing the word ‘No’.
As a child, I’m sure the word ‘no’ was not listed as one of your favorite vocabulary words. However, in the business world, you cannot allow that word to stop you. Turning your dream business into a reality will always be an uphill battle. No matter how far you’ve come, each day will come with a new fight. Some days will be easier than others, however, always keep your amour on so that you remain prepared for the fights when they come.
Thirdly, stay out of your business account.
The overarching point of creating a business account is to keep your personal and business expenses separate. Times may get rough, but do not wonder over to your business account to fill in the gaps. Growth requires the appropriate resources, every time you wonder over into your business account to cover personal expenses, you are jeopardizing your business growth and development.
Lastly, accept that you are not superman or superwoman.
You cannot do it all, and guess what? That is okay. Focus on your strengths and leave your weaknesses to another professional. In the beginning, it may have been okay to handle your own bookkeeping, marketing, sales, etc. but as you grow, hire a professional to make sure you continue to grow effectively and efficiently.
In the hopes to properly prepare for the growth of your business, strategize and create plans in advanced, to sustain and maintain each idea that is created. Remember, you want to grow and develop, but you also want to sustain.