October 12, 2017

Do You Actually Want To Grow Your Business?

It can be a hard question to honestly ask ourselves – do you actually want to grow your business? For many of us, the knee jerk reaction is to say ‘yes, of course’ and for 99% of us that’s true. But there’s usually about 1% of us entrepreneurs who, when we really look down deep, are perfectly happy with where our business is today and have no desire to grow it any further. That’s not necessarily a bad thing.

I’m not just talking about micro businesses here either. There is a donut store walking distance from my house that specializes in super special donuts. They’ve appeared on the Food Network and have offers from BIG supermarket chains to carry their products. They also, several years ago, were approached by a venture capital firm who wanted to take this specific donut concept nationwide. It would have meant millions of dollars in the owners’ pockets.

Ultimately they turned it down. When they looked at their lives now and what this growth plan would mean to their lives as a whole, not just financially, they decided that it wasn’t right for them and said no. The value of their current lifestyle outweighed the millions of dollars they could have had.

Were they right? Where they wrong? You can spend your life second guessing your decisions (and certainly a lifetime second guessing others’ decisions) but all I know is that there is still a line out the door of this tiny neighborhood donut store almost every day. They may not be millionaires, but there business isn’t suffering.

So if you find yourself really struggling with the idea of what you’ll need do and what you’ll need to give up in order to grow your business, ask yourself if that’s really worth it to you. The answer may very well be no and that, despite all the media glorification of big business CEOs, is just fine.

Oh, and here’s the little secret no one ever tells you. Saying no to growth today doesn’t mean you can’t choose to grow your business in the future when the timing is better for you. Do what’s right for you and your business now and you can always revisit the idea down the road as needed.

Related Articles: