Business Advice: Bigger Vs. Greater

There are a lot of people who resign from their jobs and start out on their own because they want to work on their own terms. They want to be the kings and queens of their times, and they want to explore their passions. On one hand, entrepreneurship does make a lot of hard work pay off in bigger terms. However, it is not the best business advice to hurry on expansion once you see income pouring in.

Many entrepreneurs commit the mistake of hasty expansion. They want to branch out ASAP when they find that their first venture is earning a lot of money. They want to get as much mileage as they can, make the brand as famous at it can be and most of all, they want to invest their income before these investments get watered down to careless expenses. They want to be big, big and BIG! In this light, sadly, most of them lose their focus.

One way to avoid losing focus is to remember why you created your company in the first place. Rethink its purpose and through this, you can begin to re-define success. You don’t have to change anything. Sometimes, all you need is to remember. 

Remember the time when you were up and about, thinking about the things that you wanted to do for your business. Remember the time when you were convincing your friends that you had a great idea and that it would be a really good business endeavor. Remember that particular time you mustered efforts to ask your stern professor about sound business advice. Remember the time when you were trying to borrow money from your parents, and arguing a little about it. These things will remind you of what really matters in your business; and what really makes your business idea great.

Any small company will be given an opportunity to widen their range of products and services. What is important is that they maintain (or preferably, surpass) the benefits that their clients get from their current offers, as well as maintain the good experience of their employees. For this, you might want to consider a little survey.

See, bigger isn’t always better. Companies are not just evaluated by their revenue or their number of branches. These things sit side-by-side the number of employees, their growth rate, their location, and their openness to other opportunities for moving forward. Here's one great business advice: there are a lot of instances when growth is not from the outside but from the inside. Does your company still provide what your employees are there for? Does your company create the impact that you want it to contain? What do you want to be known for? And is that emanating? Those things make you not just big, but great.