Grow to Survive

29th July 2010

I think it is safe to say that most of us would recognise that the business environment is a pretty uncertain place at the moment.
Most people are quite nervous about the future, and cash flow is something which is more than ever at the forefront of everyone’s minds (or at least it should be). So there is a natural desire to regroup, stay safe, save money, and possibly even some thoughts about becoming smaller. However, this cautious outlook may well be exactly the wrong way to go.
All businesses necessarily must keep growing to survive, for as soon as they stop moving forward, bit by bit they will wither and die. Just standing still will inevitably put you at a disadvantage with your competitors, but taking backward steps will only exacerbate that issue. You will soon find as the owner that your motivation and drive starts to dwindle, and gradually you will lose customers, and the business ultimately grinds to a halt.
So what should you do? As everyone knows it is very hard to raise finance at the moment, so investing in the business is difficult. However, at the very least you should be looking at ways to grow the business using your current resources, and then with innovation and good planning, and clear projected cash flows and targets, you can maintain the enthusiasm within your team, and be ready as soon as things become a little easier.
Don’t let fear hold you back, be positive and keep doing things to bring you closer to your goals.

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