There is a reason that the phrase “growing pains” exists in the first place, isn’t there? It tends to be used in reference to the trials and tribulations of life that we all go through as we develop from infancy through adolescence and into young adulthood. We can certainly draw an analogy within the business world and we can even place more emphasis in this arena. For a new business to succeed and not fail, its owner must pay particular attention to the various phases of growth and understand that each step is a necessary part of the road through survival to prosperity.
When you are planning a new business it is not okay for you to go running headlong and headstrong into the unknown with your winning idea in tow, no matter how cutting edge or inspiring it may be. You must make sure that you’re able to construct a solid foundation beneath it, so that you may build as high as you possibly can.
Even though you may have considerable experience in the world of business, you should not assume that you can “shortcut” your way to success in your new endeavor. Certainly, your experience in the real world will stand you in good stead in terms of marketing, customer relations and so on, but you must start with your clean sheet of paper each time.
When you are starting out, there will always be an element of “groping around in the dark.” What you are doing is trying to determine the makeup of your ideal customer and working out how to set your service and/or products apart – creating your unique selling proposition. Don’t even think about designing your website yet, as you must first be absolutely sure of what you are trying to do, what you are trying to sell and who you are trying to sell to. Time spent here will pay enormous dividends as you move forward and will eliminate a lot of potential confusion and the threat of having to go back to the drawing board.
When you are sure that you have your idea mapped out and have determined your market, you will then need to be careful that what you deliver is very consistent and goes beyond, in terms of customer experience. As you deliver, consistently and successfully, you will start to get good testimonials, good referral work and may now start to believe that your business exists as its own entity. During this phase be sure that you are able to grow while also at the same time providing an unerringly high level of customer service. This is where you develop trust.
Do not be tempted to fly off in different directions when you finally start to build momentum. It is important to constrain your enthusiasm and make sure that you are striving to be the best at what you do. Many business owners make the mistake of cutting themselves too thinly in this way and find that their core business may indeed suffer.
There will come a time when your business has become so established that you will need to delegate responsibilities. This can be a difficult realization sometimes as we all tend to have the belief that “things are only done correctly if I do it myself.” You must be ready to delegate at the right time and must ensure that you exercise the same level of diligence in selecting teammates as you have exercised to get to this point in the first place.
If you have paid solid attention to all the aforementioned factors you should find that your business is now built on a very solid foundation, has a good track record, loyal customers, a productive referral system and some built in safeguards, or safety nets as well.
Success breeds success, as they say and you will find that the opportunities start to outweigh the threats and that your strengths also overcome your weaknesses. You’re now destined for the big time!
Tell us about your growing pains?
Adam Toren
