I’ve spent the first couple weeks of the year blogging about the five stages of small business success. When I speak about these stages, it’s interesting to note how they are received. Some entrepreneurs receive the stages as a prescription of what they should do to get to the next level. Others receive the stages as a handy description of the small business landscape, but they want to stay right where they are in their current stage.
Here’s the most interesting thing: those who are always looking to grow to the next stage are far more likely to succeed in business. And they grow their companies much quicker. I’m intrigued by this because for many years I’ve heard smart people tell me that “not all small businesses want to grow.” For a long time, I accepted that assertion. But as time has gone by, I’ve noticed that those who don’t want to grow end up going out of business.
Small business is a grow or die proposition. There is no standing still for a prolonged period of time. If years go by and the business isn’t growing, it’s actually dying. And it’s only a matter of time before the market changes, an unexpected event takes its toll or the business owner grows tired and calls it quits.
If you’re not looking at these stages with ambition to move to the next stage—especially if you’re in stages one or two—please re-think your position. I want you to succeed. And 15 years of watching small business has told me that you will grow or die.
SBS Idea of the Day: Are you prepared to grow to the next stage? If you’re not fired up to do it, what’s holding you back?