Tasha Mazza Kelton: To Grow or Not to Grow...
Blog 13: Is there a Point where Growth hurts?
This week’s Business Challenge article focuses on the principal goal for the vast majority of businesses – Growth. Whether it is growing revenues, growing your customer base, growing your product offering or growing your team, most management discussions focus on this single success-defining question: Have we achieved growth?
I have been part of a number of conversations lately that surround the idea of growth, but from a new perspective, they only want to grow to a certain point. The comments have been centered around the idea that at some point taking a small business to the next level has daunting implications from a financial, personnel and service or product offering perspective. Some have said it is when you reach 100 employees while others have said it is when you reach $5 million in revenues. Whatever the growth hurdle, there is concern that beyond a certain size you require a significant capital output either for office or warehouse expansion, marketing efforts or doubling your employee base. It can also mean a greater focus on things that are less familiar such as private equity financing, IT investments or outsourcing non-core activities. And the biggest fear for small business owners is that they think it means pulling away from the front lines where they typically interface with customers.
So, if you have recently overcome this growth hurdle, let us know how you are handling it? If the growth decision is staring you in the face, what will you do? Continue on the growth path or make a decision to stay a comfortable size?
Tasha Mazza-Kelton, Partner
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Posted by: may | July 15, 2007 at 10:24 PM