Photo Credit: tiny-ballerina.tumblr.com
"My biggest issue is taking the next step. How does one mentally make that game changing move and bring it to the table in a way that creates new momentum."
- Desiree Cluff, Rockababy
Desiree Cluff – aka the Baby Guru – launched her business to provide sleep solutions for babies and their overtired parents. Desiree asks how one makes the mental shift to grow one's business. At Fix My Biz, we've got some questions for Desiree.
As entrepreneurs, we are always evaluating our position in the market and our readiness for growth. At Fix My Biz, we're wondering what's holding Desiree back. Often, when a business is poised for growth, the signs are present – there is high demand for your products or services or opportunities for which you are uniquely positioned to take advantage. If you're unsure whether you're ready to grow, here are some questions to ask yourself:
Do you have a clear sense of the viability of your business? Do you have a solid understanding of your financials, your profitability and your position in the market? If so, do you see solid opportunities that you are poised to exploit? Have you run the numbers (as much as possible) to make sure you've quantified the benefits of the growth you have in mind?
Are you personally ready for a change in your business? Is your personal life and financial set-up ready for a change in your workflow and cash flow? Often, growth brings with it real challenges. Systems need to be updated, staff can have trouble adapting to change, and you will need to invest in it all. Ask yourself if you can afford to pay for the change both on the home and work fronts.
Is your industry trending in the right direction? If so, are you well-positioned?
If you can answer yes to all of the above and are still unsure about diving in, we'd encourage you look inward. As entrepreneurs, one of our best tools is our intuition. Are you just lacking confidence, or is your inner voice trying to tell you that the timing isn't right? Either way, you'll need to be get to the bottom of it before you can move forward.
Fear is a healthy response to any new venture. We would encourage any entrepreneur to make the leap, we just want you to look first.
Have a business issue on your mind? Let us know. We're here to help.
About the authors:
Amy and Danielle frequently speak on the topic of entrepreneurship to the media, at seminars and conferences. Both women received MBAs from the Rotman School of Management at the University of Toronto. They founded Admiral Road Designs, which they sold in 2013 after more than 11 years. These days, the best friends continue to work together, coaching and consulting to other entrepreneurs via their business, Spark Consulting. Amy and Danielle live in Toronto and have five children, ages 5-10, between them.