The key to growing a small business is knowing when to invest. There is a common misconception that many small business owners have: they only want to invest when revenue is flowing. It seems like the ideal time to add new employees and expand their company. However, once they have a full book, they forget the pain of not having business, so they no longer see the need to grow (even though they should). They end up mistaking a hot streak for consistency.
When times are tough and business is slow, naturally small business owners are scared to invest in growth. Seeing less money come in leads people to believe that they must be frugal and cautious. They tell themselves: “I’ll invest when the money is good again,” but never do.
So, if you don’t invest when you have a full book and you don’t invest when business is bad, when do you do it? This is why some small businesses never grow. They remain plagued by uncertainty and never reach their full potential.
The time to invest in sales is now!
Stimulating growth in a low overhead way can help you expand while not taking too great of a risk. You can grow your company while not making a big financial decision or stepping too far out of your comfort zone.
Being more self-aware of the emotional battle you will face when times are both good and bad will not only ease doubts, it will also prepare you for the leap you need to take in order for your business to continually grow.