By Rolling Stone Culture Council
Most leaders strive for business growth and equate growth with success. While it’s true that business growth means an increase in profits and customers, that growth can be hard to achieve, especially at first.
If your business isn’t growing as fast as you’d hoped, there may be a deeper reason for it — and uncovering that reason might lead to a valuable lesson. To that end, a panel of Rolling Stone Culture Council members share 11 things you can learn from slower business growth and why these are such important lessons to absorb.
There are always problems to solve; that is a constant. Expectations about how fast things happen are often unrealistic because of hustle culture. Having patience is critical. Combine that with listening to your customers and you’ll be on the right path. – Tim Jack, Rise
Switch things up by changing your routines and getting a different view. By switching things up and pivoting, you’ll leave what wasn’t working behind and start something new. Pivoting can create opportunities to expand revenue. – Jenny Ta, VitalikTheGoat.com
Maybe we were too ambitious. Or, perhaps the business carries too much complexity to grow at the pace that made sense on paper. Either change the plan or refine the business. Either way, adjust. – Erik Oberholtzer, Cohere
When the growth of your business isn’t happening fast enough, that may be a sign that you are growing or need growth in other areas of your life first. Being a successful entrepreneur requires much more than drive and hard work. It also requires certain skills and life balance. When you’re not growing, that may mean that it is OK to slow down and do what you need to do to find it. – Sonia Singh, Center of Inner Transformations
Sometimes slow growth is OK. I’d rather have slow and steady growth than rapid, rampant growth that’s unscalable and crashes early due to infrastructure, market conditions, staff or something else not being ready. As entrepreneurs, we are primed to grow and value that, but it’s critical to also be mindful of building at a scale that’s sustainable for our systems. – Cate Rubenstein
The Rolling Stone Culture Council is an invitation-only community for Influencers, Innovators and Creatives. Do I qualify?
If you’re reaching a standstill, there are a few things to look into: 1. Your messaging has saturated your current audience and you need to expand your reach. 2. Your offer is off and isn’t relevant to your marketed demographic. 3. Your messaging is off and isn’t communicating the value proposition of your product. Get analytical and remove your emotional attachment. – Cody Jefferson, Embrace The Lion
When things are bad, it’s easy to lose hope and sight of the goal and the plan you have in place to get there. To be able to endure the tough times and come out successfully, one has to believe in their ability to succeed and withstand the storm. – Arshad Lasi, The Nirvana Group
Not growing fast enough can be a signal that you might need to rethink a couple of things in your growth strategy. It usually tells you to take a deep look at both your product and your market to identify where improvements can be made. – Sami Rusani, Wasder
Whenever I find my business growing slower than anticipated, I avoid blaming an outside obstacle and instead look inside the business. For example, I could assume that inflation is slowing down my business, but I can’t control that. If I instead look for ways to better communicate the value of my products, I can help customers make a smart purchase regardless of the financial climate. – Vanessa Nornberg, Metal Mafia
Kanye West Used Porn, Bullying, ‘Mind Games’ to Control Staff
Trump Bragged ‘the Evangelicals’ Would ‘Never’ Leave Him. Then the Defections Began
Lisa Murkowski Wins Reelection in Alaska, Defeating Trump-Backed Rival
Trump's Ex-Lawyer Says Colorado Victims Reaping Consequences of 'Eternal Damnation’
If your business isn’t growing quickly enough, then it’s important to examine where you’re putting your marketing efforts and whether those are the most impactful methods. Does your target audience respond best to Google ads, PR, Instagram, TikTok, TV commercials or other efforts? These are things that you must determine in order to grow the business and maintain profitability. – King Holder, PROCUSSION
Timing is everything! Use that downtime to clean house. There is always something that can be done or something that needs to be done. You must be prepared and stay prepared for growth. There’s value in the business slowing down. Utilize that time wisely to catch up or tighten up your current workflow. – Antwanette McLaughlin, The Spice Group, LLC
We want to hear it. Send us a tip using our anonymous form.
Copyright © 2022 Penske Business Media, LLC. All Rights reserved.