Small Enterprise Magazine, July’14 Issue: Challenges in growing from Small to Big

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Bitter it may be, the truth is that often owners themselves are the biggest obstacles which limit the growth of their business. Unfortunately many SME owners do not have a vision for the future. In fact their planning time horizon normally is 6 months to 1 year at a maximum. This shows that their mindset is not very pro-active. They themselves are not visionary; a very important attribute an owner should have to scale up his business.


 


Start-ups have their share of challenges starting from getting started to scaling up. A growing venture has its own challenges and as business grows, it encounters several problems needing different solutions for each. If an entrepreneur doesn’t take timely or appropriate action, then it may cause the company to falter and lose out to the competition. 

Entrepreneurs with prior experience or having necessary resources may take care of growth plans but first time entrepreneurs or those with less experience on how to deal with growth may find it challenging to deal with growth related issues. A start-up or growing company cannot justify dedicated resources for all functions in an organisation to manage growth related issues hence need to manage the situation optimally with available resources.

 

Small Enterprise July issue highlights the areas that most commonly affect growing businesses and outlines what one can do to deal with the situation.