What is Business Growth?
August 23, 2014

What is the proper amount of business growth?  How do you grow your company?  Your business plan (or strategy) will determine the how, but does not help with the mindset.

There are many opinions and thoughts on the need to grow your business.  Growth will be the ultimate driver of financial success, as you will eventually need to sell your goods or services to more people over time to make more money.  Nobody starts with $1 million in annual sales.

But what is right for you?

If you are a startup, like Facebook, then advisors would like to aim for 10% weekly growth.  If you are a craft seller looking to supplement your family income, then it will likely be a little different.  The proper amount of growth, is the growth that helps reach your goals within your determined timeline.

If you want to make $100,000 per year after 1 year and start with zero sales, then you will need something closer the 10% weekly growth.  If you give yourself two years, then your required growth decreases.

If you want to earn $10,000 per year for your retirement (which might be 2 years away), then something in the 10% monthly range will produce that target income in the future.

Take a look at the mindsets to achieve your growth goals.

What is a Growth Mindset?