I find that the phrase “growing your business” has become quite fashionable. Being the curious person I am, I decided to find out what it really meant to people. The consensus was that the majority of people agreed it means getting bigger and making more money. But most of the people asked did not have a clear understanding of “why” they were growing their business.
Is it just the thing to do? What does growing look like to you? Will it make your quality of life better? Will it make your life easier?
Some reasons to grow your business may be:
- Increase your income/profit. Do you want more personal income? Ask yourself “why”.
- To be more leveraged. Do you want to grow so that you can hire others to take some of your load or to take over the things you don’t like doing in order to leave you more time for yourself and your family?
- Versatility and personal growth. Is it time for you to introduce new products and services into your business to provide more variety and take on new challenges? Do you enjoy learning and expanding your knowledge?
- Are you looking for more recognition? Do you want to be a leader or major player in your market? Is personal satisfaction important to you?
- Create a better quality of life for you and your community. Do you want to grow in order to give back to your society? Is it important to you to make a difference?
In asking yourself these questions, it will help you define if you really want to grow your business…or not, why you want to grow, and if growing your business will help you achieve what you want.
