How to Grow Your Business to the Next Level
For small business owners, in particular, growing a business has always been something of a challenge. On the one hand, you don’t want to grow too quickly – doing so can significantly damage the trajectory that you’ve set out on. But at the same time, you also don’t want to grow too slowly as this too can cause you to remain still and get passed by some of your competitors.
All of this is also true at higher levels, particularly when it comes to taking that pivotal stop from a $1 million business to a $10 million one. According to studies, most businesses generate about $500,000 in revenue – meaning that they just need to find that next step to get to the desired level. It’s certainly not an impossible feat as countless others have done it, but it is something that requires you to keep something key thing in mind.
It’s important to acknowledge that getting to $10 million in revenue for your business isn’t actually “the hard part.” Most experts agree that getting to that $1 million level is far more difficult.
Once you learn to live by the idea of “slow and steady wins the race,” you put yourself in a much better position to succeed over the long term.