Posts Tagged ‘motivation’

To Grow or Not To Grow – That Is The Question

Tuesday, January 14th, 2014

Our business is all about helping companies grow.To grow or not to grow your business

But there are owners who deliberately keep their companies at around the same size, year after year.

And I don’t think that’s wrong. There are good reasons to support this point of view.

At the other end of the spectrum are the owners who blindly pursue growth.

That can be wrong. Edward Abbey, an American essayist, said, “growth for the sake of growth is the ideology of the cancer cell.”

So where’s the middle ground? What is right?

The answer is, it’s what’s right for each individual.

We’re all different. So, I’d define what’s right as pursuing and reaching the goals each individual sets for him or her self. And, of course, being satisfied with that.

Coming back to Abbey’s point, owners who grow their companies successfully usually have a reason for doing so.

It can be to invent or improve something that will give consumers (or businesses) more quality of life. Some examples that spring to mind are a different way to access music (Apple); air travel at affordable prices (Southwest); a new way to share information (Facebook).

The reason is rarely to make pots of money. That can be the result of growth. But if that’s the only purpose for trying to grow, it won’t work.

Assuming you have the “right” motivation for pursuing growth, how do you do it?

A good place to start is to remember 2 sayings. Never confuse success with a growth market and you can’t cost cut your way to long-term success.

Some companies make the second mistake as a result of making the first.

Then, assuming you’ve got at least one clear advantage over the competition, follow this well-proven formula.

•  First, expand your existing business i.e. sell more of what you have
•  Then take opportunities related directly to your existing business – introduce complimentary products, move into new markets or find new distribution channels.
•  Only after fully exploiting those two, consider moving into new businesses.

Despite what we read in the press, books or on the Internet, some things don’t change. The pace at which we have to adjust and adapt has definitely changed, as have the ways in which we can do that.

But the fundamental, common sense concepts haven’t.

And that’s true of everything in life.

If you enjoyed this post you’ll also enjoy 2 Key Questions Every New Product Must Answer.

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Jim Stewart is the founding Partner at ProfitPATH. He has been working with business owners for over 16 years to increase profits and improve the value of their companies. LinkedIn

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Your Excuses Are Your Own

Tuesday, December 18th, 2012

Startup Expert, Roger Pierce, produces articles, videos and blogs to help companies engage business owners. He’s worked with Scotiabank, Visa, Staples, Bell, HP, FedEx, Cisco and Microsoft. Roger is the co-author of the book, Thriving Solo: How to Grow a Successful Business, and writes startup columns for The Toronto Sun, 24Hrs and Profit Magazine. www.NewcomerStartup.com

 

It’s a harsh statement, I know.

It’s easier to blame. We blame other people. We blame the economy. We blame customers. We blame time. We blame our situation. We blame money. We blame the boss. We blame the system. We blame the weather. We may even blame a higher power.

Being accountable for your own success will make you successful. It’s as simple as that.

I read a lot of business books written by very intelligent and very accomplished businesspeople. Regardless of the author or the subject, one common theme emerges: Your excuses are your own.

Greatness in any form doesn’t come easily. It requires sacrifice, discipline, passion, commitment and perseverance against overwhelming odds. History is rich with examples of achievers who reached their goals despite possible excuses.

Over the years I’ve heard different excuses from struggling entrepreneurs:

“I don’t have the money to build my business.” Go find it.
“I’m too sick to work.” Hire others to work for you.
“I don’t have the time.” Make better use of the time you do have.
“I’m not sure what to do.” Work with people smarter than you.

Once we take full responsibility for whatever we aim to achieve – it could be starting a business, launching a new career, finishing school, finding our soul mate, raising a child – the excuses magically disappear. In fact, our former excuses may become a source of motivation.

Your excuses are your own. So don’t make any. Just get going.

You can contact Roger at 416-302-5251 or pierce@newcomerstartup.com

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