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Thursday, December 31, 2009

Growing pains

Growth probably needs to be a part of your business plan. There are a handful of businesses who are happily producing at capacity in a profitable way, but it is rare. Even the most content business will eventually begin declining returns.

So we must grow.

Like a plant, we can't grow indefinitely by just growing up. We need to expand the roots and have new avenues of growth. This takes more work than just watering and maintaining the status quo. But that's why it's called growing pains. It may not be easy, but it is necessary.

If you're a restaurant, this may mean adding a new dish to the menu occasionally. A service provider may need to explore new services to add to the repertoire. Movie theaters have been adding special events and screenings other than the new-release blockbusters. Marketing and public relations agencies have begun adapting to social media. The key is to keep the steps close to your roots, and make it a natural change that makes you stronger in the long-term.

Growth is something that requires you to think and behave differently than what has brought success in the past. It requires taking chances. Not every new seedling survives, but a plant that keeps trying will endure.

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