Why Small Business Cannot Grow


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Why Small Business Cannot GrowBusiness is just like a tree. You have to nurture it so that it will grow. Without nurturing, you never receive the juicy fruits from the tree or even have a shade tree. However, the bad news is business is not as simple as growing a tree. It is a competition for you to grow your business. You have to grow it fast. If not, your competitors will surpass you and your business will be in hot water.

Now you know why many businesses are suffering. In most cases are due to the slow growing of their business.

 

 

Below are the top 5 reasons why small business cannot grow:

  1. Concentrate on the Wrong Thing – Business owners waste their time on the wrong things. Every day, we only have limited time to run our business. However, if we use it to do something not really helpful to our business, then our business will never grow. Business owners must learn how to pinpoint the non-important works and let someone else to handle it. You might spend money on this. However, what you earn back is your time which you can use it to make even more money.
  2. Don’t Reinvest the Profit Money. I saw a lot of business owners just take out all the profits from their businesses and spend it. I understand that they have to use the money to pay their living expenses. However, it is great that they can set aside a certain amount of the profits and reinvest into their businesses. Remember money is water for business “tree”. 
  3. Plan too Small. Some business owners are looking for an easy life and only wish to have a business that can cover their living expenses. They never dream big and so they plan small. But if you want to make multi-million from your business, then you have to dream big and plan big. If you want to start a burger shop, then dream to open another McDonald in future.
  4. Business system. The main purpose of a business system is to help you to serve more customers in a shorter time. If you are doing all the things yourself, your business will not grow as your time and power are limited. But if you want to make multi-million from your business, you can hire people to run your business and serve even more customers in just a short time. A business system also can help you to maintain the quality of the business output such as services.
  5. We Stop Learning. Many traditional business owners have this problem. They just use the old system or mindset to run their business. However, world is changing at the rocket speed. Every day, there are more and more ideas, tools, technologies coming out in business world. If we stop learning and never change our business, then our businesses are in danger zone.

 

You Got to Have Some Faith

Actually it is all about your faith in your business to grow the business “tree”. You only can take action seriously if you have the enough faith. Only with the action, then only you can grow your business and succeed. So start from today, train your mind, build the faith and take action! This is the key to business success.

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Comments (8)

I love the way you presented the facts. The analogy of a tree says it all. A tree that will last for years don’t grow overnight like the grass do. Nice work, keep it up.

Hi Harrison, haven’t been visiting your blog for quite some time, and I do see lots of changes here.
Good job with your new design.

All the best with your businesses! Don’t give up and keep on nurturing them.

Jia you! =)
Robert

I absolutely think these are common, revenue killing mistakes. However, I disagree that growing a business slowly is a bad thing.

I think that is exactly the problem with most businesses in America today…exponential growth without values, morals or doing anything much besides throwing a ton of money into marketing, and keeping a tight watch on the bottom dollar.

I believe that if you focus more on the service you provide, that no matter how long it takes you to grow you will have a solid foundation.

Thanks for your encouragements, Tony and Robert.

Thanks for your valueable comments, Connie.

Great info! I especially like the points of not thinking small and actually setting up a business system. I try to advise my business clients of that as much as possible. I’m also re-developing my own business system.

As for the planning small and not looking for your business to simply cover your living expenses, I have a friend who’s doing just that who I’ve been trying to convince to take a lower salary and hire someone else who will be crucial in developing a new department but she does not see the picture yet!

Not re-investing the profit money is a huge mistake, and one I think a lot of new business owners make. We all want to see those profits come rolling into our pockets as quick as possible. But, if we don’t re-invest then that is a quick way for the business to go south.

Very good information. You have summarized the exact points that all small business owners must learn.
Thanks

Nice comments . I like what Connie Brooks said .
A business should be about make a positive contribution to the society to which it owes its
existence . Unfortunately the sole criteria of
success is money and there are businesses out there which exploit people and yet are considered
great by Wall Street .

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