While waking up this morning I suddenly found myself having a pen in my hand and scribbling 2 ideas for a new blog post on a piece of paper. Here is the first one.
Probably you can help me out and post as a comment, who had said the following originally.
“If your business doesn't grow it dies.”,
It is certainly true.
As the population grows, as markets grow, someone else will takeover your niche soon. If not, you are in the wrong market and hopefully close to retirement with enough retirement funds saved.
What are the drivers:
- Number of sales
- Average sales price
So why would you like the product of those variables to grow continuously, strictly monotonically?
This is not supposed to be a scientific article. No. I only want to get you engaged thinking about those issues in your own business. So I really only give you a short list and not much more.
Let's start out with a solo entrepreneur, because it's real easy to start thinking from this point on and the rest applies for big corporations as well.
Here is my Top-10 list, why your business needs to grow: