In the business world, we can feel that almighty pressure to hit the ground running. There have been many people who have gone headfirst into their business and succeeded, but it is so important that we learn how to walk before we can run, and to take a measured approach to launching your business. Many people think that starting a business quickly is going to mean more immediate success, however, you need to recognize that business momentum is about slowing it right down. Why is it so important to start slowly?
That pressure to hit the ground running is felt by every company, and so many entrepreneurs are chomping at the bit to get going because they want to see the results of their efforts. But this is where people fall downtime and time again. Allowing yourself the luxury of time means that you are able to grow more organically, but it also allows you the opportunities to ponder your ideas. For example, if you are wondering how to come up with a brand name you might think that you can just come up with any old name and it’s there as an anchor, which you can change later.
When we take a measured approach and start to slow things right down and think about each preliminary component, it allows us to hone in on each area and give it the time it deserves. And when we have more control over each step of the process, it ensures that we are creating things that are the right fit for the business. Having control over the processes is key because this allows us to grow in a more organic fashion, which is going to be crucial when it comes to the scaling-up process.
People love to jump into something because they are fed up with their humdrum existence, and this is why many people make that change from side hustle to full-time business without giving due care and attention to the real-life factors at play. When we are considering making the leap from side hustle to fully-fledged business, or in fact, quitting our nine-to-five job and focusing on our passions, we have to remember that there is no rush. But the reason people jump into it is that they are looking for that almighty purpose.
As fulfilling as it is to turn a hobby into a passion, the reality is that you need to slowly ease yourself into the waters and take a measured approach. A great example would be those people who are running an e-commerce store online because initially, they are doing it to set up up a small business that they have a passion for but are gradually building up their customer and client base which means that when they grow slow, they can stay the business into the direction they want without experiencing almighty pressure from other businesses growing at an exponential rate. And for you, learning how to ease yourself into this world allows you the luxury of doing it for the right reasons throughout the process. You learn to do things for the good of the business rather than because you need to pay yourself.
Many companies opt for niche practices, and this serves many businesses well because they are automatically capturing the imagination of their target markets. This means they end up with exponential growth at such a quick rate. As beneficial as it is for a business to choose their target markets and product range carefully, if this results in exponential growth, it can be harder to adopt a fast-growing strategy. There are solutions around this, such as hiring more people and getting extra funding, but it is vital to remember that if you end up growing too fast, as good as this, you are more likely to make bigger mistakes. You end up choosing people for their abilities to do the role rather than being a good fit for the business, but you also find yourself banned by more rules and regulations due to the scale of the company.
Many companies that start from home end up learning to run before they can walk in order to keep up with demand. However, if a business is not able to keep up with demand in the right way, they only serve to disappoint customers, and this can have a negative effect due to the fact that the business frustrates a certain group of people. There are solutions to this, such as transparency, and communicating effectively with customers, but for those small businesses that have a major surge in customers, they can struggle. They will have issues keeping up with demand, but they will also think that this is how the business will be from now on. Therefore they think that they will constantly be in demand, they can afford to turn customers away. But it’s about making sure that you are able to deliver customer satisfaction while providing the potential for long-term growth.
Source : https://www.mikegingerich.com/blog/take-a-measured-approach-to-starting-your-business/
