THE SMALL BUSINESS “FAST LANE”
In a recent article, a study said that small businesses that combine an urgency and growth mentality have the best chance for success. In other words, a lack of urgency and a lack of growth usually means that a business is in decline and eventually dies.
The digital revolution will continue to disrupt the traditional ways that all businesses have been managed. “Unless your company is changing faster on the inside than the world is changing on the outside, there’s only grief on the horizon”. This is one of my favorite quotes from a book by Jason Jennings.
Becoming a small business in the the “fast Lane” does not entail growing your staff or getting new and fancier offices; a few things that it does mean include:
- Being open to new ideas
- Solving problems the first time they appear instead of revising them again and again
- Admit your mistakes instead of covering them up
Growth also means “bottom line growth”; working towards increased profitability is a base measurement of your path. That shows that you are meeting your goals and are using your resources, time, and money wisely.
To become a business in the “Fast Lane” you must first be able to tell your customers and investors, what you do and why you do it.*
*Look for a new class on Creating a Pitch Deck to help you with this process.
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