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The Dangers of Fast Business Growth

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The Dangers of Fast Business Growth

  1. 1. 5/9/22, 8:52 AM The Dangers of Fast Business Growth - Shawn Nutley | Entrepreneurship https://shawnnutley.net/the-dangers-of-fast-business-growth/ 1/4 The Dangers of Fast Business Growth Every small business owner has a goal of seeing their business grow into a multi-million business. They fail to understand that growth comes with its own challenges, and a simple mistake can send everything crumbling down. For any business person looking forward to rapid business growth, here are some dangers they should understand before they proceed. Cash Flow Mistakes Once a business starts to grow rapidly, it will be hard to understand how money enters and exits. Unfortunately, this is one of the dangers of fast business growth that can kill even the most promising business if not mitigated on time.  As business sales grow, the expenses also grow, and it might be more than the revenue generated. Well, it’s still possible to save the business if the owner manages to make collections on time. However, if the collections are delayed, the business might not survive. Operational Inefficiency a a
  2. 2. 5/9/22, 8:52 AM The Dangers of Fast Business Growth - Shawn Nutley | Entrepreneurship https://shawnnutley.net/the-dangers-of-fast-business-growth/ 2/4 Managing a fast-growing business with a small staff is next to impossible. If the managers don’t improvise and hire new people, the existing staff will be overwhelmed. However, hiring new staff also comes with its own set of challenges. It can be difficult to redesign the new work plan to accommodate the growing staff. Or worse, it can be even harder to hire experienced staff without experience in the hiring process. Not forgetting that new employees also mean increased expenses that the newly expanded business may not be able to accommodate. Unhappy Customers When a business grows too fast, it might not have enough time to adjust itself and meet customer expectations. The business will lack enough personnel to handle customer service, or it might not have enough staff to handle the growing number of customers. If the customers start giving negative feedback, it’s a clear indication that your business is failing in meeting market expectations. A good business should have enough time and people to handle both negative and positive feedback. Overvaluing Sales It’s important for a business to make sales and generate good revenue. But it’s not just the numbers that matter for business growth. Apart from just looking at what the business brings in in terms of revenue, it’s also important to consider other aspects. A business should have a wider look at the economy, its competitors, and stay on top of the trends. Recent Posts The Dangers of Fast Business Growth Productivity Tips For Entrepreneurs How to Establish Connections on a Remote Team Tips To Encourage Teamwork Remotely How to Become a More Innovative Leader Archives May 2022 April 2022 March 2022 Search
  3. 3. 5/9/22, 8:52 AM The Dangers of Fast Business Growth - Shawn Nutley | Entrepreneurship https://shawnnutley.net/the-dangers-of-fast-business-growth/ 3/4 January 2022 December 2021 November 2021 October 2021 September 2021 August 2021 July 2021 June 2021 May 2021 April 2021 March 2021 February 2021 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 March 2019 February 2019 January 2019 November 2018 October 2018 September 2018 July 2018 Categories Blog business entrepreneurship
  4. 4. 5/9/22, 8:52 AM The Dangers of Fast Business Growth - Shawn Nutley | Entrepreneurship https://shawnnutley.net/the-dangers-of-fast-business-growth/ 4/4 finance investing investing apps Leadership Shawn Nutley Meta Site Admin Log out Entries feed Comments feed WordPress.org Copyright © Shawn Nutley · 2018  

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