When the Hard Sell Stops Working
Your small business has hit a wall. That aggressive sales approach that you used in the past to scale up your business has now ceased to work. Successful businesses know how to grow. They find a profitable niche in a sustainable market, and then steadily increase market share.
But there comes a time when the aggressive sales strategy ceases to work. Doing more of what has been done before starts to produce smaller and smaller results. The reason for this is that growth brings about more things, more people, more everything. And more “things” increasingly become tougher to manage over time. Complexity can be a drain on profitability for a small business. And selling more adds fuel to the fire.
The answer to this problem can be down to the simple concept of scalability. Put systems in place that scale up when the business grows. This concept is easier said than done. To successfully scale up a business, the small company must learn how to do grown up things like working together as a team and hiring and firing in a professional manner.
Many businesses never make that transition from small to mid-sized. Some of the main reasons that businesses never scale up are as follows:
A Sales Addiction
Closing that deal can lead to an incredible rush for a small business. Selling can be as addictive as any illicit substance. And most small businesses aren’t willing to curb that addiction. This leads to an increase in sales without the proper infrastructure to manage the business. Things get out of hand and many small business owners can lose control over the productivity of the businesses that they run.
A Fear of Failure
Many small businesses have an incessant fear of the unknown. Business owners then start to shy away from those challenges that they feel might be beyond their means or outside of their strengths. They often times fear that if their small business grows beyond the current size, then that larger business will be harder to manage. This leads to stifling growth. And one of the mantras that we here at Un_Standard hold near and dear to our hearts is that a business can’t truly innovate when it stays within its comfort zone. Don’t be afraid to take that chance, but be sure that systems are in place to be able to cope with the changes ahead.
A Resistance to Push Back
We’ve all been there. Afraid to say no to the client. No matter how ridiculously insane those deadlines are. So we end up saying that we’ll turn that project around, even if it means going three days straight without sleeping or going to the toilet. This flexibility is great early on. It helps small companies gain valuable market share. But constantly burning the candle at both ends isn’t something that is going to be sustainable. Occasionally pushing back and saying “no” is part of scaling a business for a long-term strategic growth. Just because you can turn that project around on a dime doesn’t mean that it is a good idea for your business. This is all about taking a strategic and disciplined approach to growing your business.