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Posted on December 14, 2008 by Venice Raymond | Posted under Entrepreneurislism
Organic Growth: Starters
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Bootstrapping requires some original investment. This investment does not have to be huge, so growing slowly starts from a little shop or a little workshop and only in years it will become a giant, given proper care. A very important thing about growing up slowly is to hire, in time, some skilled workers. Some businesses require a database of clients and bills need to be paid all the time. A good idea would be to take on some consulting jobs to achieve the necessary momentum to launch bigger. This model serves well if you do not have a huge amount of cash to invest in your business. Those businesses that amass huge amounts of cash just to fall down faster than they rose to the top present a lot of risk. This alone can be an argument in the favor of organic growth. They tend to make some rush decisions, including spending too much for space or people. Of course, this speedy business model does not leave any time for building up some real company culture. Any business owner should think about the amount of time a person needs to learn to ropes of a new workplace. Employees, no matter how good, need time to learn about the way things are done in the company. An organic growth ensures that all the departments in the company grow at the same rate. This comes with some nice profits, and this is another solid argument. Advertising can be a pain, as big cash are involved there. Think small until you get to think big. Some techniques may be employed, but they do not come without risks, as you can see: 1. When revenues are increasing at a higher rate than your possibilities of hiring new blood, you will end up delivering poor customer service. The available workers will start working poorly, as they will become overcome with responsibilities. That could kill a business, and in a short time. 2. Hiring too fast can also be a large problem. Newbies will have no one to learn from the ropes of the company, and that will hurt the business. 3. PR growing too fast can be another problem. When advertising a first product, too much publicity will hurt; let us explain why. You will have a basic product that will remain in the minds of your customers as the mark of your business. You will find a difficult time trying to change that image afterwards. A second chance may not be given to you, due to these complications. Hype is not always good. Another problem with advertising is to talk too much about a problem before it is released. In no time, that product will become old story, and that will hurt the business. No one will want to sell the product, as the first waves of enthusiasm will perish. So, keep in mind to align the growth of all your departments at the same rate, if you want to be successful. Advertising is one thing, quality is another. High tech products present a lot of problems in this part. New employees will have a hard time learning about it. Also, the database of clients will not become huge overnight. A big investment in advertising at first is not such a great idea. You need a manageable business and this is the most important advice that one can give you. Grow slowly and surely, and the success will be yours. About The Author: Read more articles from Venice at www.articleclick.com. She is now a regular contributor to this online information resource. |
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