5 THINGS THAT IS LIKELY TO KILL THE GROWTH POTENTIALS OF YOUR BUSINESS.


Transitioning from the start up phase of a business to the growth phase is a major challenge for most businesses. This means you are no longer struggling to get your feet rooted but you are now facing the challenge of growing your business to the stage where you want it to be. There are lots more involved in this phase of the business compared efforts needed to set out. Business owners at every phase should be equipped with the right knowledge and understanding needed to keep their business not only afloat but thriving.
HIRING WRONG: having the wrong manager or inefficient staff for your business is an easy way for your business to go down the drain and not grow as quickly as it should.

BEING A SPENDTHRIFT: being an over conscious spending and going for the cheapest things instead of valuables is another easy way to keep your business from growing and fast as it should be.
INSUFFICIENT FUND: growing of any business and keeping it alive and trendy enough definitely involves some capital which most entrepreneur might not be willing to spend especially when it is needed for non profit yielding side of the business.

INEFFICIENT SALES AND MARKETING ABILITIES: this is most likely to occur if much effort is not put into marketing and advertisement at the initial stage of the business. The business is likely to suffer inefficient sales and profit margin when it is suppose to be nurturing the growth stage. In other words, building your network is crucial if your business is going to growth.
LACK OF STRATEGIC PLANS: for the growth of every business, there has to be strategies in place if your business to growth and thrive. Lack of these plans in place is an easy way to fail at thriving as well as your business should.

The following keys are strategies necessary to help every business overcome the growth state and transition into the thriving state.