The rhetoric of fast growth above all else is built into the fabric of online business today. As business owners, we can’t help but focus on what will help us achieve growth in the quickest possible time frame.
But what no one seems to be talking about is the downside of this fast growth.
The impact on the business owner, their team, the business reputation and even the customers.
Without solid business foundations to support rapid growth, you can find yourself knee-deep in a logistical and operational nightmare. We all know the children’s fable The Tortoise and The Hare. The paradox of fast results and growth is not a new one.
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As a Business Coach, I see the downside of fast growth every day. For many business owners who do achieve fast growth, they’re left feeling overwhelmed, struggling to keep up, always dialled into their business and have little, to no time to work on their business.
Ultimately this fast growth leaves them with little capacity to make the necessary changes to keep up a gold standard experience.
Like the hare. Grow too quickly and you’ll burn out.
We can all take our cues from the tortoise. Take focused action, grow at a sustainable pace, fine-tune your operations and build a business structure that can accommodate growth. It may take a little longer, but you, your team and your clients will be the winners!
To do that I suggest starting with these four action steps:
1. Get clear on the vision for your business
When you understand the big picture, you’ll be clear on what you want your business to look like well into the future. Running a successful business is a long game and having a strong vision is the cornerstone to building a sustainable business.
2. Set realistic growth goals or targets in your business
Spend time understanding how many new clients you are able to successfully manage over your target period. Ignore the external influences and look closely at your business capacity and what is a reasonable growth goal your business can sustain.
3. Map how you will support new growth in your business
Now that you understand the growth you’re looking to achieve; before you take action toward generating new business, it’s important to pause and reflect on how your business will support your new clients, students or customers. If your current operating model, systems, or processes are not robust enough to support this growth, you’ll need to put a program of work in place to make changes to support your growth.
4. Put your blinders on
The online business world will continue to feed you messages of fast growth. As a leader of your company, you need to put your blinders on and stay focused on building your business your way. Just because the internet says so, doesn’t make it true for you.