It has been said that businesses are like living organisms. They’re born, they grow, they mature and they eventually die. As in life, the formative years are generally the most challenging as new business ventures attempt to gain a market foothold and to establish a level of consistent and sustained performance capable of leading to long-term viability. Unfortunately, most businesses find it extremely challenging to reach maturity primarily due to an inability to scale.
Even some of the best ideas don’t make it past this phase, ultimately finding it difficult to overcome the many obstacles that stand in the way of business growth. Having a plan to address these obstacles, while not a guarantee of success, will position most businesses for growth.
Of the challenges stymying business growth, several stand out above the rest and warrant some discussion. These include operational inefficiencies, manpower, and standardization. Putting aside overall market conditions and the economy, scaling a business often depends on how effectively these derailers are addressed.
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