When one starts a business of any kind, their primary goal is to make this business grow as quickly and as prominently as possible. This is Business 101, so to say. Due to the contemporary obsession with success and rapid rise, people often forget that there might be quite a few dangers associated with a business growing too quickly. In short, there is such a thing as a small business growing too fast for its own good. Today, we will be talking about why this is the case.
Quality will suffer
The mere fact that your small business is growing means that your clients or customers (customers in the remainder of the text) have noticed the quality of your product or service. You have something to offer, this something is of good quality and your business is growing. If all of a sudden you find yourself in a situation where you have to deliver substantially higher quantities of services or products, you will find it almost impossible to deliver the same kind of quality, which is never a good idea.
You will suffer
As a result of these dramatically increased orders and your efforts to keep up, you and your early employees will become overworked before you can say ’18-hour work day’. You may be able to keep it up for a certain amount of time, but sooner or later, it will all become a bit too much and as the end result, you will once again experience a drop in the quality of the service or the product which usually spells death for small businesses.
You will start hiring indiscriminately
The first thing that will come to your mind once you discover you and your early employees are getting overworked is to hire someone new and hire them as quickly as possible. Because you will be rushing your recruitment process, you will find yourself surrounded by people who are not only majorly underqualified and unskilled, but who have no to little idea of what your business is really about. Slowly but steadily, your small business will start losing its identity, which is the second worst thing that could happen to it besides compromising its integrity.
You Will Start Running A Sweatshop
Even with the new hires, you will find out that your entire existence has come down to producing as much as you can, fulfilling the orders and doing your best not to compromise the quality of the service or the product you provide. In short, your business will eventually turn into nothing more than a production line, a sweatshop if you like. This will put further strain on your employees and you yourself, ridding you of all the passion you once had for the business you started so optimistically.
You will partner up with people you should not
In order to keep your rapidly expanding business afloat, you will need to turn to people and services that you would otherwise avoid. For instance, you might have to find ways to fund your growing business that will end up being less-than-agreeable, taking out loans that might put you in jeopardy down the line or reaching out to investors who will demand too much. You might also have to reach out to remote service providers that might put your business at risk in the cyber world. In short, you will have to make compromises that could easily turn out to be more harm than good.
You will lose your way
Little by little, all of this will accumulate and you will find yourself one day owing copious amounts of money, managing a sweatshop of a business with churns out subpar services of products and which is described as hell by the employees.
It will become pointless.
By James D. Burbank, BizzMarkBlog