Well, maybe the word “stinks” in the title is a bit strong. Perhaps the word “mediocre” would be more appropriate. There’s a lot of okay, maybe even good little companies out there that are never going to be big. Why? There may be a lot of reasons, but let me suggest three.
1. They hire friends and family, instead of creating businesses that are committed to holding their employees accountable, while constantly upgrading their team. Everyone knows that nepotism is lousy, but how many family businesses do you see? There’s tons of them. And it’s a recipe for limitation.
2. They still use a fax machine. There’s a new technology called Internet fax and it’s cheaper and easier than fax. Too many small businesses are stuck in the dark ages of the 90’s. There’s many new technologies out there that are changing the way the best businesses operate. You must be seeking these technologies.
3. They favor cutting costs rather than increasing revenue. It’s easy to cut something. It’s much harder to create something. And sales are the toughest thing to create. If your business is going to grow dramatically, it must increase revenue dramatically. That’s just the sad reality. This might mean increasing expenditures on sales and marketing. Sadly too many businesses stay small because they’re unwilling to pay the price and take the risk and go for the opportunities that are needed for dramatic revenue growth.
Relevant Tags:Internet Fax, marketing, nepotism, sales, small business