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Slow Your Roll, Partner. Growth Isn’t Everything

There’s never been an easier or more lucrative time to be an entrepreneur. With the new technology and the internet of things, there are far fewer gaps to bridge. Businessmen and women can run a multimillion dollar company from the luxury of their home, which wasn’t possible before

So, to tell your friends and peers that you want to slow down might make them choke on their coffee. “Why the hell would you consider such a thing?!” The truth is there are dozens of personal and financial reasons to cut short the growth of your business. Although it might not be the in-thing to do, it could suit your current goals.

Take a look at the reasons why to find out more.

You’re Not Profitable

It’s indicative of the time that the business might be a world-famous brand without turning over the big bucks. Once you are a viral hit on social media, every man and his dog will know about your brand and the products you have on offer. However, it’s important not to let the popularity get to your head. While the potential for growth might be high, it’s essential to have enough sales and profits to expand. Wise owners like to develop their business plan before making a bold move.

There Are Risks Involved

Millennials dominate the industry, and they have no sense of fear. Young people, in general, tend to throw caution to the wind and pick up the pieces afterwards. How they decide to operate their business is their decision; however, it’s not your method of choice. Entrepreneur has a quote from an unnamed businessman who says: “My house is paid for, my cars are paid for, and the building that houses my business is paid for. I have a lifestyle I love.” Anybody who feels the same way doesn’t have to gamble their present and future.

Sustainable Is Better

Speaking of hazards, borrowing money from third-parties is one of the greatest. Banks aren’t your friends and they will recall their debts and take collateral for good measure. Lending beyond your means is the industry standard, yet it doesn’t have to be that way. You might prefer the little by little alternative. Putting managed IT services in place as well hiring a marketing agency are two affordable ways to boost growth. And, there is no reason to borrow extra cash as long as the deals are within the budget.

You Can’t Let Go

Growth implies hiring new employees and taking on more clients. They’ll be fresh faces in the customer arena too, with lots of traffic hitting the website and store. You might even need to bring in a CEO to implement strategies because of your lack of knowledge. In short, it means giving up everything to make money. As weird as it sounds, some entrepreneurs want to enjoy the process before they sell-up and move on. To them, the cash isn’t everything.

Do you agree? Are you a slow burner who wants to create something sustainable and fun?

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