Get out of your own way to grow your business

I like to do a quick retrospective at the end of each year: What worked, what didn’t, and how can we/I improve.

When I look at what didn’t work, it usually comes down to decisions or assumptions that I made that slowed growth instead of increasing it.

Generally, this is due to not getting out of my comfort zone and not seeking outside advice.

While it’s not always fun to admit, I find it extremely helpful to analyze this so I can start making better decisions and assumptions in the future.

Many years ago, I merged my first business with a company, and on paper, it sounded like a great deal but they had a loophole that I wasn’t prepared for. Oops! I should have gotten some outside insight and stepped outside my comfort zone.
Then in my next business, the software company I later sold in 2018, I kept telling myself investors wouldn’t be interested because of the client concentration we had. I bootstrapped it all the way through. It meant slow growth and smaller numbers. But, I learned from it. The company we merged with, did the exact opposite of what we did. They raised and borrowed money, they grew faster, and were a bigger company. Their company was far from perfect but it showed me what could be done with the right resources and with the right internal management.
This time around, I’m trying not to make those same bad decisions again that keep us from growing. We’re getting to see first-hand how Arvo can help businesses scale and we want to take every opportunity we can so that every business knows about it.
I run into this a lot when talking with other business owners. And I hear similar storylines to what I used to tell myself.  The solution is easier said than done:  Get out of your own way, start talking to other business owners, investors, loan officers, consultants, etc. about what you do and what you are trying to achieve.
You never know what will result from those conversations.
At my last business, our first strategic partner came from my drum teacher’s ex-wife’s best friend’s boss. I know right? That’s a hell of a game of connection telephone. That strategic partnership alone resulted in hundreds of thousands in sales.

Moral of the story: Think big and take drum lessons.

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