Bigger is not always better; in fact, for some businesses it can be deadly.
Many new business owners aim to be the biggest. To them this means making the most money, succeeding in multiple markets, and growing faster than the competition. However, many entrepreneurs are not prepared for what being a “big business” actually requires. With tunnel vision set on size alone, the business practices that brought on early success do not allow the rest of the business processes to catch up with the growth to a point where the growth can be managed.
Set goals to be the best; the rest will take care of itself.
Instead of being consumed with the “more, more, more” attitude, focus on increasing competencies and delivering a consistently high quality product and service. Customers will begin to recognize your commitment, and make long lasting and personal associations with your brand as a business they can rely on to help solve problems and meet individual needs. Word will slowly spread; and your business will grow at manageable rates (if you want it to).
Create plans to reach goals.
Think about where it is you want to be (and why), and how you’re going to get there. If you think of “goals” as destinations, then you’ll see the value in being S.M.A.R.T. in having a road map. With quantifiable objectives, a business owner can set specific goals that are measurable and achievable for the market they serve. These goals must be relevant to the meeting the needs of their customers and done in a timely manner before the competition does it. Goals are always evolving as business expands. The very best (and sometimes the biggest), raise standards on an ongoing basis. This is why they stand out.