Business owners don’t always want to grow their businesses. While buzz words and new strategies fascinate other business owners, some are content with the way things are and don’t see any reason to mess with the status quo. That’s not necessarily a bad thing, depending on their goals.
We thought you might find a list of the top reasons business owners don’t want to grow their businesses interesting. Keep reading to find the common concerns and beliefs that cause some business owners to go for maintenance, not growth.
Some don’t want to grow their business
If you’re not seeking astronomical growth for your small business, you’re not alone. While the multitude of content online about growth hacking, finding new customers, and increasing your sales may say otherwise, there’s a silent majority of business owners out there who are perfectly content with keeping it “business as usual.”
There’s nothing wrong with that! Business owners have many reasons for not wanting to grow their businesses. Here are the top reasons.
5 reasons business owners don’t want to grow their business
1. It’s risky business.
Growing means taking on additional risk. More financial obligations, employees, and the need for increased sales generate a lot of risk for small business owners that are growing their business. Planning for growth involves a lot of planning for risk. If you want to avoid increasing risk, it’s normal to sidestep growth (at least for a while).
2. It takes too much time.
Growing a business takes a large, upfront time investment before any results are tangible. That’s discouraging to many business owners that aren’t in financial crisis and wouldn’t mind keeping things the way they are. What’s the incentive for change when things are going well?
While go-getter peers may enjoy the constant challenge of creating change, adapting to new circumstances, and spending time growing their businesses, some business owners just feel growing is unnecessary for a small company.
3. Bigger = more stressful.
Another reason many business owners don’t want to grow their business is the associated stress. If you’ve started a company, you know the sweat, blood, and tears that go into it. Now that you’ve finally gotten your business off the ground and are making a living from it, sometimes the idea of growing your business just causes more stress.
The common belief that growing a business is stressful and that sustaining that level of growth is even more stressful is one of the reasons some owners decide not to seek growth.
4. Growing takes effort.
Once the company is running well, you’ve found your core team or staff, and you’re getting used to owning a business, an odd feeling of contentment comes over you. You’ve worked so hard, brought your idea so far, and you’ve truly given it your best effort. Sometimes, the last thing you want to do is put things in limbo again by draining your resources, time, and mental capacity on making your company bigger.
5. Funds for investment.
Growing a business to a new level isn’t cheap, especially if you plan on sustaining that growth. It’s one of the final reasons many business owners have no interest in growing their business – why spend the extra money or take on additional debt to make this into something larger when I’m happy with the way it is now?
As a business owner, one of the luxuries you can afford is freedom. The business started with your idea – don’t abandon what you think it should be solely because you feel there’s nothing left to do but grow. Pivot, make a change, find new ways to see your company, but don’t grow unless you’re driven to. Sometimes, the best small business is just that – small.