Rapid Growth, 3 Reasons To Slow It Down

I see it happen frequently in my CEO groups – Much of their success is measured by “growth that month”, and I don’t know if I agree.

What I have come to learn is that growth needs to come the right way. Here are 3 reasons why it’s better to slow down your immediate growth and set a greater foundation for future growth.

1 – Make sure it works on a small scale.

When starting my last three companies, I personally completed the tasks that I eventually wanted to hire for. I made the cold calls, I made the sales appointments, I did the customer on-boarding and any other “beneath the owner” tasks. I spent over a year perfecting this before hiring others to do the same. My colleagues, especially the ones with venture money, did quite the opposite. They spent most of their time scaling without ever themselves doing the field work. Doing all the foundation work allowed us to really figure out what the market needed and how to respond to clients and their behaviors with everyday issues. As I’ve scaled, I’ve always felt like the foundation was solid and all dollars spent scaling went to the right places. What’s the logic in throwing money behind something that you haven’t experienced or know works? What level of leadership do you display when you’re able to tell an employee related to ALL tasks in the company – “I did that, let me share with you my experience and what I learned from doing exactly the thing you are struggling with”.

2 – Focus on profits not just top-line revenue

Cash is king – We’ve all heard it, but less owners focus on it when thinking about growth. Forcing yourself to keep expenses low and creating a high-margin product is a much better long term win than scaling a low-margin product. I’ve always focused my team on creating extremely profitable revenue streams and what I’ve noticed is that “correct” growth always follows.

3 – You don’t know what you don’t know.

Isn’t it interesting that so many companies go under and then they say “I wish I knew 2 years ago what I know today.” Growth is all about balance. You want to push growth and sales at a rate that allows you to figure the needs of the market but also at a rate that the company can handle. One or two big decisions can take you under – Spending more time assessing those critical decisions can go a long way.

When you walk into the office today, think about the word “finesse”. Take a step back and think about how you can better your product, people and processes as you say “Grow Grow Grow!”

Brian Moaddeli
President, Grow Team
http://growteam.com

Incoming search terms:

  • identify and evaluate entrepreneurial qualities projected
  • identify and evaluate entrepreneurial qualities projected by kfc
  • entrepreneurial qualities projected by KFC
  • Which KFC enterpreurial qualities embraces
  • entrepreneurial qualities of k f c
  • The extent of kfc business embraces enterpreneurial qualities
  • the extent to which shoprite embraces entrepreneurial qualities
  • the extent to which the business embraces entrepreneurial qualities of kfc
  • Which KFC embrances entrepreurial qualities

Best Kept Secrets to Success After College

As students graduate from college, there’s no doubt they’ll hear advice from plenty of people. It can be dizzying, and maybe even a little annoying. But taking the time to listen to those who have experienced what you’re experiencing right now can be very beneficial and can get you on the right path as you embark on the next stage of your life. Take advice with a grain of salt. Consider where it’s coming from. Consider how it’s helped the person giving it to you. Consider what caused that person to come to the conclusion that what they’re giving you is good advice.

If you’re considering graduate school, choose a program and a school with which you feel comfortable. Adding to your credentials isn’t going to be detrimental to your future success, but don’t do it just because most agree it’s the next logical step in your career field. Sure, if you want to be a doctor, you need to attend a medical school. If you want to be a lawyer, you need to attend a law school. But for a lot of other goals, you may not necessarily have to earn a certain degree to be successful. Consider your options, research the opportunities available to you, and choose your next step because you feel it will be most beneficial to you.

Don’t expect your degree alone to take you places. You can collect all of the credentials in the world, but if you do not understand how to implement what you’ve learned into the real world to produce real results, you’re not going to go very far. The best way to improve your candidacy for jobs or to set yourself up for success is to gain some practical experience in the workplace while you’re studying in college. Make sure you don’t settle for just any old job, but do your research and find an opportunity that will truly benefit you and prepare you for future endeavors and goals.

Always do your best to network while you’re still in school, and when you graduate. Meet people, develop relationships, and you’ll not only expand your worldview, you could also open a few doors here and there. Participate in extracurricular activities, especially in a field you plan to enter. Join some clubs, volunteer for activities at school, and offer to work with professors who may be conducting research or special projects. Even if they don’t ask for volunteers, it wouldn’t help to inquire about opportunities to assist them.

Incoming search terms:

  • how to be successful after college