According to the Australian Business Indicators report for 2018, the ABS reports the number of businesses exiting the market sector in 2016-17 was 261,450, an increase of 0.5%.
In the same statistical data, 3.1% business entry was up with a 3.5% increase in the second quarter of 2018. So growth is happening, but is it happening in your business? People are leaving a business and people are growing in business- there is a gap. So are you an agent for change or a resistor of growth?
For business owners, this can the road less traveled. There is a trend amongst many high growth businesses, and the common denominators we see are:
· Delaying gratification: Sacrificing present comfort for future gains.
· Acceptance of responsibility: Accepting responsibility for one's own decisions.
· Dedication to a truth: honesty, both in word and deed.
· Balancing: Handling conflicting requirements.
If you are experiencing difficulties in your business, it might be time to engage the services of a business growth specialist. This can also be a daunting prospect. Many people are resistant to sharing their financial information. Collecting valuable data and using new information and knowledge to suggest a way forward can induce a moment of panic. Unfortunately, it is a sad reality that these businesses are not interested in growth, but instead, they endure being in a constant state of survival lurching from one crisis or upheaval to the next without a clearly defined and articulated roadmap for their future.
So much can be gained from sourcing someone to help you in your business, a new set of eyes can be a breath of amazing fresh air and can instigate your unique ideas and activate your vision.
Because we all know that when we are on task and belly to belly with our business every day, we can lose sight of the bigger picture and get lost in the details.
I am passionate about influencing and enthusing others through personal advocacy, vision, and drive. Listening carefully and understanding each business’ journey is required so that a true understanding of the circumstances can be explored. In initial interviews we enjoy doing a definite deep dive into a business with the owner, in an opposite scenario this can also become a rescue mission, Houston we have a problem!
Everyone who begins a business is brave, some businesses start off with a bang and then begin to whimper, you see like a fingerprint, each one is different. Sure, there are common factors, but the uniqueness is necessary to encompass the ability for growth and success.