If you have ever fallen in love with a restaurant, you’ll know about the heartbreak of crushed expectations when you visit them after their time in the spotlight. Why is it that the minute restaurants have to cater to a lot of people quickly, they lose the very thing that made them famous to begin with?
On a more general business spectrum the same holds true. Businesses that undergo rapid growth are propense to a decline in quality occasionally punctuated by death by success. Whether it was by foregoing processes, over-diversification or lacking a strategy, many businesses have learned that growth is a treacherous friend. While the reasons are many, the answer is simple. The fundamental thing that growth makes possible is forgetting about what matters in lieu of quick gains.
When the potential for major profits exist, compromising your values becomes easy.
But it’s exactly there where the problems begin. Here are some basic tips on how to avoid this sweetest of deaths.
Live and Die by Your Values
Your Brand Value Attracts Revenues, Not the Other Way Around. If you are known for something, focus on perfecting and delivering that in new and interesting ways. Please your customers even more so that they evangelize you and what you’re good at. Not only will it draw new business, but also align your brand with what you do.
Processes Are There for a Reason
It’s easy to cut corners when you’re in a rush. Why not? Just this one time? Then a second, then a third then you scrap it all together. Processes are the equivalent of [athletic] training. The day of the game, you play with your heart, but your training is there to make sure you execute right every time.
Don’t Try to Please Everyone
I’ve always said, for our business, that we don’t have competition. Not because I am ignorant or arrogant, but there is someone for everyone and for the partners that we serve and grow, we are right for them. You are right for those who love you. Learn about THEM before you go off looking for others. Ultimately, they are the best way to attract like-minded customers.
Learn from Your Success
What forces, direct or indirect, are contributing to this boost in sales? What kind of people (to my earlier point) are most inclined to like what you’re offering? What products sell most at what times? Growth is an opportunity to learn first hand about what success looks like. Take notes. Copious, copious notes.
It may feel almost impossible to slow down when things are so good. But if you want to build a business that lasts, slowing down and learning from what you’re doing is exactly what you need to make sure the good gets better.