Owning a business has always be a part of the American dream. In fact, over 60 percent of employees would rather start their own business than work for someone else.
In a way, that is understandable. Who would not want to make the rules and be in charge of their own schedule and responsibilities? But if your company cannot move past its one good idea and grow over time, then you have started a fad and not a company.
So what are the challenges that small and medium business (SMB) executives and owners face as they look to grow their business?
Oracle recently partnered with Inc. Magazine to find out. We wanted to get in the head of these leaders and learn what keeps them up at night. The results, in some ways, were not surprising. Selling more, finding the right people, and effectively managing their companies’ growth were the three things they said gave them insomnia.
In many ways, starting a business is the easy part. Successfully expanding through all the different lifecycle stages is the hard part. Two-thirds of all businesses fail within 10 years, and there are several reasons for this.
As you transition from start-up to established company, sustainable, stable growth has to be your priority. This means that you need to continue to find and land new customers, even though all the “low-hanging fruit” is gone.
You have to keep your costs in line even as you rapidly bring on new employees. Employees are one of your most valuable (but costly) assets. Finally, the idea that started it all may have lost or outgrown its market, and you are struggling to get new products or services to market quickly.
Intrigued? Want to know how to actually do these 5 things? Check out Oracle’s newest SMB ebook: Company Growth Costing You Sleep? SMB Leaders’ Top Expansion Challenges…and How to Fix Them.
In this informative ebook you will learn what it takes to get the right management team in place, out-compete your competition, cost-effectively scale and get your products and/service to market quicker than the other guys...so you can rest easy at night.
So don’t wait, download our ebook today!