Every business wants to grow, but what if getting bigger isn’t part of the game plan? What if your goal is to have a small business, and keep it nimble and manageable? Is there anything wrong with that? Is growth necessary or necessarily a positive thing for every business?
There’s nothing wrong with staying small, even if it means passing up opportunities to attract more business and customers.
While growth is good, it comes with new responsibilities and obligations. If you decide to hire a full-time employee, for example, the business has to become big enough to support another person, as well as cover costs such as benefits and equipment.
At some point, a growing business will also need an office, though it’s surprising how many businesses are virtual these days. Renting is an expense that comes with growth, adding another financial stress to the business.
Keeping the company small is a choice for some. And it doesn’t mean these people aren’t ambitious or passionate about what they do; it has more to do with the fact that they have more than enough business to make a living, without the additional responsibilities.
To read the full article – Click Here – Mark Evans – Globe and Mail – September 3rd, 2012