3 Biggest Mistakes Made by Business Owners Chasing Growth

Owning your own business gives you the choice and freedom rarely experienced in a nine to five job. As you begin your adventure into business ownership you will make many mistakes this is a natural part of the journey and true entrepreneurial spirit allows you to pick yourself up, dust yourself off, and try again tomorrow. In my own personal growth story, I made many mistakes and today I will share with you three common errors other business owners make when trying to grow their business fast.

1. Increasing Workload

Often people assume that the harder you work, the more you will earn. This is a gross misunderstanding of business and life. It's not about the number of hours you put in but how you spend those hours. Time is precious and we all have the same 24 hours, every single one of them packed with opportunity. The problem is that business owners have huge to-do lists, and can so easily become caught up in the daily grind of what needs to get done. When this happens they are not taking the action that leads to real growth. The business quickly becomes stagnant.

I have worked with many clients over the years who come to me, desperate to grow their business but with no time left in their busy schedule. Many of them are working to full capacity and physically cannot fit in any more hours to their working day. They cannot see a way through.

Of course, there always is a way but the business owner is often too close to see it. This is why talking to other professionals or hiring a coach is advantageous. Fresh eyes on your business will help you to spend your time more effectively and use it to take action for growth (after all, a lot of the to-do list can be delegated or outsourced).

2. Limiting Self Care

Business owners tend to put themselves at the bottom of their to-do list. With business, children, partners, parents, friends, employees, accounts and even the cleaning to consider, prioritising self-care just doesn't seem feasible.

I deeply understand the thought process behind this because I have been there myself. But the truth is that my growth journey started almost immediately after I made the decision to put myself and my self-care higher on the to-do list.

Initially, I did this out of necessity. I was in a burnout freefall, I was working non-stop with a constant feeling of guilt for not being there enough with my children. Thankfully (and with a little help), I recognised that if I didn't stop, slow down and look after myself I would lose the business and continue to make our home life a challenge.

When I did, something magical happened. I gave myself time and space to reflect, regroup and re-energise. This meant that I was more productive during working hours and more focused. This reduces stress levels and additionally allowed my mind to step into its creative side. I was able to be innovative and resourceful as a direct result of a self-care routine. It was soon after that I had the courage to franchise and the rest is history.

3. Lack of Plan for Growth

If you don't have a realistic plan for growth that you are willing and able to action then it is not physically possible to move forward in the way you desire. Every day you will be presented with opportunities and decisions to make. If you have not set your vision and put in a step-by-step plan to achieve it, then the choices you make might not be in alignment with the big picture.

Business owners who keep doing what they've always done hoping for a different outcome will not get the increased revenue and or visibility that they hope. This is because, without a plan in place, their dreams of a six-figure business become lost in the daily tasks.

Real growth requires an action plan, enthusiasm and the time to set things into motion. You need a system to follow or a tried and tested process to stop you from getting stuck.

How I Can Help

I teach women in business how to grow their revenue through franchising. Most of the women I speak to you have high aspirations and work extremely hard but are not seeing the return on their time and financial investments.

They do not prioritise self-care and as a result, they are on the verge of burnout. Many of these women have not even considered franchising. I want to change this. I want women to know that they can create a dream lifestyle while reducing their workload with franchising.

I can show you too.

Download my 5 things you need to consider before franchising your business PDF today and take action to take back control of your time money and family.