Conquering Obstacles to Business Growth |
You want your business to grow, but rapid business growth comes with challenges. Hiring, training, and managing new people add work and expense. A fledgling business may thrive with one or two people doing everything. As the staff grows, a business owner’s role transforms.
The road to successful entrepreneurship is well-traveled. Information and mentorship are available. A motivated owner can grow with the business. The biggest obstacle is not gaining new skills, but in facing discomfort and fear of change.
As your business grows, your role transforms from doer-of-everything to leader-of-others. Learning to adapt and maneuver helps your business succeed.
Focus on Your Strengths
Entrepreneurs tend to be driven, goal-oriented, self-reliant, and resilient individuals. All excellent characteristics that may not coincide with strong management skills. A highly successful salesperson may drive business but lose track of paperwork details. As a business owner, your staff should be strong where you’re weak so you can focus on what you do best.
As the business grows, you want to be more essential and less involved. Micromanaging to maintain control is a common mistake. This shuts down the business growth potential. Instead, cultivate the talent others bring to the table. Watch your own priorities come to life through their inspired actions. The company’s potential increases with each collaborator you empower to contribute.
Leadership is a Learned Skill
As an entrepreneur or business owner, you followed through on an idea. A leader has to share his or her vision with each member of the team. Well-communicated direction and purpose create alignment individually and for the group.
Learning to enlist a team is a powerful leadership skill. A motivated employee who cares is more likely to commit to his or her work. They understand the big picture and feel they are part of something. When you make a request, they understand what you’re asking and why. Employees cannot read your mind. It’s up to you let them know what you want.
Stay Open to Feedback
As the company’s fearless leader you set the pace and direction. Yet, no one can do or know everything. Customer and team member feedback is relevant and immediate. It can help in the following ways:
- Improve products and services.
- Identify weak spots/people in the supply chain.
- Provide social proof for others to trust you.
- Reveal new potential areas of business growth.
- Signal when it’s time for the business to adapt and change.
When you receive feedback, look at it objectively. Keep in mind how it fits into the big picture.
Seek Out Expertise
Your best guide has walked your path. Mentorship relationships provide essential support as your business landscape changes. Mentors motivate, listen, brainstorm, and share past experiences.
Studies reported in Forbes say entrepreneurs with mentors persevered longer. They also had higher rates of success. If don’t have a mentor yet, there are thousands of volunteer mentors through SCORE.
As your business grows, don’t let pride or fear get in the way. What worked two years ago or ten years ago may not perform today. Changing tactics to get results is part of entrepreneurship. Decide you’re up to the challenge and remember the resources you need are at your fingertips.
Originally published at https://joanweisman.com on February 4, 2020.
