3 Ways Entrepreneurs Are Hindering the Growth of Their BusinessJul 25, 2022
3 Ways Entrepreneurs Are Hindering the Growth of Their Business
Entrepreneurs start businesses with the hope of seeing them grow and succeed.
When that growth and success does come, are they ready?
- Have they put the necessary systems and processes in place?
- Are they willing to modify their team, adjust finances and fine-tune their marketing?
These need to be things all entrepreneurs have thought through and planned for if they want to see their businesses grow and succeed.
“If you fail to plan, you plan to fail.”
This couldn’t be more true for all entrepreneurs.
How Is Your Growing Business Like a Growing Lobster?
As an entrepreneur, you need to be like a lobster.
I know this may sound strange, but hear me out.
When lobsters grow, their shells do not grow with them. Lobsters need to shed their shells so that they can continue to grow and form a new shell. This process is uncomfortable but very necessary for continual growth to take place.
Your business is the same.
Your business will grow just as a lobster grows.
As growth takes place, your business will begin to “shed” its old ways to allow for developments and changes to take place. This process may take you out of your comfort zone, but it’s necessary.
The question is whether you are willing and ready for this kind of growth and change to take place in your business?
Remember that the successes and growth of your business does not solely rely on the quality of the product or service you are providing. Many factors can impact the growth and success of your business.
Having an attractive product is great for business growth, but without the necessary systems, marketing and finances in place, your business will not grow and succeed.
It’s important for you, as an entrepreneur, to understand what makes a business grow and what increases its chances of failure.
You don’t want to be the reason your business does not grow and succeed.
So, let me help you!
Here are 3 ways that you as an entrepreneur may be hindering the growth of your business:
You’re not embracing the discomfort that growth demands.
If you’re anything like me, and like most people in this world, you don’t like change. You’re pretty happy and comfortable with your space and your routines. Don’t let someone even try to take you out of your comfort zone.
As an entrepreneur who desires growth and success, an attitude like that is not going to cut it. You need to be willing to suffer a little and maybe even a lot. You need to be willing to make the necessary changes and leaps that growth and success require.
Maybe that means growing your team, changing your current systems and processes or spending more time on marketing and finances. Whatever it may be, it’s going to take work and commitment from your side.
Are you willing?
You’re not recognising the stressors in your business
When a business is growing there are guaranteed to be stressors involved. It’s a given. What’s not a given, is how you are going to deal with these stressors.
I have a simple step-by-step process for you to follow when dealing with stressors in business:
- Identify the stressor
- Analyze whether the stressor is in or out of your control
- If there is something you can do about the situation, do it.
- If the stressful situation is out of your control, accept it and move on.
This process may seem far too simple but believe me, it works. Expect stressful situations and plan ways in which you are going to deal with them. It’s all part of the growth and success in business.
You’re not embracing the necessary help from your mentors and coaches
It’s never easy admitting that you don’t have all the answers, but it’s so necessary for the growth and success of your business. There are always going to be people that have been in the industry a little longer than you have and that have a little more knowledge than you do.
Embrace those people because they can help you grow and succeed in your business.
When you want your business to grow in the right way, it’s important to find a team that can hold you accountable.
Why not join our Clubhouse Rooms (Monday to Friday 7am to 9am CST), where you can join in some spicy conversations with entrepreneurs who are trying to grow their business just like you. (Or listen to the replays when you have some time.)