In a world where most businesses fail, a fast-growing business is definitely good news. But, what if your business grows too fast?
You might not expect it, but a business that grows too fast can be a bad thing. A business which grows too fast can not only hurt your business but can destroy your business. Many businesses have success beyond their abilities which results in disaster. There is a learning curve with any growing business. Running a business that grows too fast is like drinking from a fire hydrant.
There are companies that are excellent sales organizations. Generating more revenue is not a problem. They have built sales funnels that work. Their revenue is growing quickly. But, growing your revenue quickly is not all good news. More money coming in can also cover up a lot of mistakes.
When your business is growing too quickly your mistakes are also bigger. Let’s say you have been hiring more people than you could afford. When you only had one employee it wasn’t such a big issue when you had 30 people on the payroll. When your business grows too fast the errors you make turn into larger errors. You might not feel the negative impact of your mistakes immediately, but they will end up hurting your business nevertheless.
Yes, sometimes businesses grow without merit. It is not the same as winning the lottery, but similar. You might get lucky and land a client without trying too hard. You might land several new clients without making a real effort. All of that sounds like a lot of fun, but the new business could quickly land you in hot water.
Growth that is not the result of planning and systems is going to hurt your business.
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