This has been my question coming into 2010. How can I make my business bigger and better. In my years in corporate America I saw alot of companies grow big but not really better. If the bottom line is my company has more people, responsibilities, and red tape but no one is getting paid more or are happier about it then what did it accomplish? My search this year is to find ways that grow one good question into bigger and better company. Want to grow in areas of financially, stability, and diversity.
There are many options to get to this point. One way to grow one good question is labor. If I hired more people, outsourced more work, or got some volunteers I could accomplish helping other businesses. But management takes time. A lot of time. Where is the trade off in gaining ground with more clients, yet all the “freed up” time then goes back into management?
Another area is just going after bigger fish. Many companies do this. They see where they can make the most money and concentrate on that. The 80/20 rule. This works well for many, but always seems to limit growth of the business, though short term does help profit.
Many times you see companies grow by introducing something brand new; a service, product, or packaging. This is doable but first must have the idea. Circles back to “how to make the company bigger and better?”
So we do not have all the answers here. But will continue to find ways grow. The best idea I have come up with comes from a quote from Proverbs: “Wisdom is found in Counsel”.
To this end, I started an Entrepreneurial Breakfast. It’s a collection of entrepreneurs in the area. We eat and talk about any and all things. How we do insurance, when to outsource, share our problems, etc. What’s great is that each person if from a different industry. So the ideas are fresh and new.
I have gained valuable knowledge from my friends and we continue to grow. This is probably the best way for my company to get better, is to get smarter and wiser. By making a community where this continues to encourage me and challenge me I will not have to rest on one answer every 6 months or so. I have an ongoing community to ensure my business is bigger and better. And that is the best resource to have.