Business Growth

5 components that keep business owners from breaking through the growth challenge

Working long hours is often seen as the price of being a business owner. However, hard work and long hours are no guarantee or sign of success. Indeed, behind the brave face of many a business owner is frustration with their lot. They are clearly in an uncomfortable comfort zone, but they have got used …

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For some people, the idea of ‘work’ and ‘pleasure’ are totally opposed. This perception can lead many business owners to primarily focus on monetary reward to ensure hard work and loyalty from their employees. Whilst, this undoubtably motivates some in the short term, it is the business owners who also inspire and emotionally connect with …

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When your experience will let you down

Rightly proud of their success they feel that they have seen it all and can rely on their experience to successfully face the future.

Typical responses from SME owners are:

“We have been really successful to date, so we must be doing things right”

“I’ve got 25 years’ experience, so I know what I’m doing.”

Reliance on experience can create a dangerous Business Comfort Zone (BCZ) which blinds the owner to possible dangers as well as opportunities. The BCZ creates a ‘wait and see’ approach leading to reactive knee-jerk responses rather than a proactive, considered approach to face these new events.

How, when and what the owner’s strategic response is, will have a significant impact on the future of all the business’s stakeholders.

‘Outside In’ Marketing

I met with a business owner last week who has tried unsuccessfully for some years to break through a turnover figure which he has been desperate to achieve for many years. He has got very close in the last few years, without making that final break through which would bring him the level of success he was looking for.