Growing is not always comfortable. Growing a business isn’t either. There are points that require a substantial shift to reach the next level.
A business coach of mine called this the 5’s & 10’s of business. Each time a business moves from an annual revenue starting with a 5 or a 10, to a revenue starting with the other, a change is needed.
$100K → $500K → $1M → $5M → $10M → $50M → $100M
There is no formula for how to achieve each step. This is the challenge. This is what each business owner or leadership team gets to figure out. It may be…
A business coach of mine called this the 5’s & 10’s of business. Each time a business moves from an annual revenue starting with a 5 or a 10, to a revenue starting with the other, a change is needed.
$100K → $500K → $1M → $5M → $10M → $50M → $100M
There is no formula for how to achieve each step. This is the challenge. This is what each business owner or leadership team gets to figure out. It may be…
- Standardizing processes
- Niching products or services
- Adding management levels
- Raising prices
- Delegating or shifting accountability
- or any number of other changes
In the moment, the challenge seems significant. In hindsight, it’s often hard to imagine how you operated the old way.
A healthy business is not sitting still. It’s not stagnant. It’s moving forward and figuring out the next thing. The current struggle may be exactly what you need. It may be growing pains.