The Top 3 Reasons Small Businesses Fail To Grow

The Top 3 Reasons Small Businesses Fail To Grow

Working remotely, I know how difficult it can be to keep up with the pace of change. It’s not easy to own a small business.

It can be daunting to try and balance a full schedule with new tasks, updates, and finishing touches. You must have a plan in place and be able to execute it efficiently in order to take advantage of the change momentum.

As you may have noticed, with the launch of my new website, I am in the middle of transition and change. The notable change was prompted by growth and my desire to expand. It’s still changed. It will all be worth it in the end; I know that. Right now, however, I want to get it over with!

I want to finish website updates, check for dead links, and finalize free offers. I want to be done so that I can relax with a glass or a cup of tea (or wine, depending on the day). I long for a time when my shoulders don’t get sore, and my eyes don’t hurt from staring at the computer while I make yet another change. Most importantly, I want a “to-do list” that doesn’t take up too much space.

The reality is that change and growth are frightening. We often stop ourselves from growing without realizing it. I knew I did. This latest transition has made me realize that these three “little” things were preventing my business from “being all it can be.”

These are the top three reasons why home-based businesses don’t grow.

Reason #1: Waiting until the “perfect” moment

I don’t know about you, but I waited for the right time for my business to get a makeover for more than a year. Although I was aware that I had outgrown my original platform, I decided it wasn’t the right moment. The cost was too prohibitive. I didn’t know what the best service was to meet my needs. Even worse, I was unable to accurately describe my needs. If this were my business’s current state, would it not be a bad idea to adjust the timing?

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WRONG.

It is the right time to realize that you don’t need to stay where you are. There will be many changes along the way. It’s not possible to wait for enough money to have your first child. There’s no “perfect time,” it’s now. If you don’t believe my words, you can stay where you are and watch the impact on your bottom line over six months. It will likely be lower than or equal to where you are now.

Reason #2: Fear

Fear was another reason I was reluctant to make the change. Fear was a major reason I hesitated to make the change. I was afraid that if I did, I would lose my clients and followers. I was afraid that I wouldn’t be able to handle the growth. I was afraid that there wouldn’t be enough money. There were many things I was afraid of. Fear-based questions plagued my thoughts. What if they “came with me”? What if they don’t like the new site? “What happens if the change makes it uncomfortable?” “What happens if they go away and never come back?” What if? What if? What if.

Fear clouded my ability to see that my current setup couldn’t meet the needs of my clients. They wanted more, and the website, blog, and community were all separate. I was cheating my clients out of what they really needed. My CLIENT’s best interests were easy to access the information, tools, and resources they needed. Once I realized this, my fear of change vanished.

More importantly, I realized that my “fears” were the problem that held my business back and was limiting my growth. Letting go opened up new opportunities that will benefit my clients in a more efficient and effective manner.

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Reason #3: The “Real” versus the “Hobby-Business Mindset

Many WAHMs, including myself, decide to start a home-based business to be able to spend more time with their children. You may start it as a way of making extra money or to transition a hobby into cash. Then you realize you’re dealing with clients, budgets, websites, and social media. It is not a hobby anymore. What started as a side hustle now requires your attention.

This may seem like an odd connection to why businesses fail to grow. However, I can tell you that operating as a hobby often creates limits that are difficult to see. Many WAHMs didn’t set out to create a business. Therefore, our mindset isn’t right for the demands of ownership.

Our business is viewed as a hobby. We “fit it in,” operate on a tight budget, and create self-imposed limits based on the belief that we are doing it for fun. It’s not a priority. What was once enjoyable quickly becomes “work,” which wasn’t in the original plan.

What’s a girl supposed to do? First, decide if you want to start a hobby or start a business. You must understand the importance of a business plan, budget, and maintenance. You are responsible for all the good and bad things that happen to your business. Most importantly, a business must change in order to be successful. Otherwise, it will fail to meet its client’s needs.

If a business is a right fit for you, then treat it accordingly. You must give it a priority in your life. Stop cutting corners and get what you want. You can be open to new possibilities, and you can serve your clients in a way they like. Stop playing small, for God’s sake! It’s time for the world to see that you and your business are valuable.

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Judy Davis, aka “The Direction Divas,” is a motivational speaker and blogger. She also inspires guests, publishes authors, and is an entrepreneur. Her relaxed, casual style incorporates humor, real-life experience, and a sense of sincerity and trust into all she does.

Judy specializes in helping Military Wives, Busy Moms, and Women Who Work From Home. She shares T.I.P.s to empower her clients and help them move forward in their lives.