Tags – Signs that a business will not grow
I am not going to give you any statistics on how many businesses fail.
I am not interested in that; I am interested in talking about people who just don’t have what it takes to make a business truly successful.
The reality is: if you move your legs and arms enough, you can do enough to make just enough. But that is not the true aim of going into business; business is far more than that.
So, I wanted to talk about personality traits that stop some business owners from truly growing.
Saying that, here are 5 signs that a business will not grow:
1. Clinging on to the Comfort Zone
As a business owner, you need to put yourself out there. There are no two ways about it.
If you cannot put things on the line; if you cannot make tough choices; if you want to please everyone in the world: you are not built for entrepreneurial growth.
The best you can do is provide a product or service that people want. And once that want dries, you pack up and go home. Chances are that the demand will not be high enough to generate growth; but you can still do enough to make ends meet and keep yourself busy.
2. Chasing Quick Money
If you went into business, thinking that you will make quick money: get ready to get disappointed.
The reality is, you may not see any money for a considerable amount of time.
And even if you do and your mentality is to take it out and spend it: say goodbye to growth.
So, if you want to be successful in business, forget Monday to Friday and 9 to 5. Until you are dreaming about what to do next in business, and it takes over your every action, you are not going to truly grow your business.
Of course there are examples of people doing well while working far less, and even holding jobs, don’t get sucked into the “sitting on the beach, working on your laptop, and making millionaires”. You need to be a flipping genius who can do something better than 99.9999% people, and that skill needs to be in high demand or you need to create that demand.
Doing so is a different kind of hard work that you cannot forgo.
3. Procrastination
Working for yourself means that you will not have a boss, at least in the beginning. (Bosses come when you have clients).
So, you need to push yourself; no one is going to do it for you.
You have to manage your time; you have to deliver.
(And that includes fulfilling your commitments and not looking for excuses. There are too many of those people in business, not going anywhere).
4. No Marketing Strategy
You can have the best product or service in the world, but if people do not know about it, no one is going to buy it.
In fact, in today’s world, and especially in the case of B2Bs, this step goes one hurdle further: if people don’t know what you are about, they are not going to buy from you.
This is where marketing, and an effective marketing strategy comes in.
You need to be able to tell who your product/service is for; how are you going to reach them; and how are you going to place your product/service in front of them. If you skim on any of these steps, forget business growth.
5. Lacking Actions
This is more common than you imagine: people who make plans and then never take action.
What you need to understand is: having an idea is only step one; being able to solve a problem is only the basis of starting a business. If you cannot then take action, design and deliver the solution, you are not cut out for a growing business.
Here, if you are afraid of failing and hence, not taking action, just remember: you don’t have a real business to start with, but you have all the growth to gain if you succeed.
In reality, even if you fail, the learnings will be enough to put you in a better position for the future, and do things differently.
Concluding Remarks
Entrepreneurship is not for everyone; here you go: I said it.
And having a business that truly grows is for even less of you.
Between you and us, we only work with businesses and owners who have the appetite for growth. Otherwise, we are just wasting each other’s time.
To learn more, get in touch with us today.
In the meantime, check our digital marketing services.
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