What's your 'need' to grow?
Sep 10 2012, 12:36 | By Entrepreneur
By Ravi Kiran
Competition is all around me: We live in a hypercompetitive world. Competition comes from unforeseen quarters like water competing with soft drinks and home delivery with restaurants. Often the only way to fight competition is to grow.
Market's growing: If I don't, I will shrink: This is truer for India than other countries. If you are building a company for the long term, then you have no choice but to grow. In a dynamic market, the opposite of growth is not stagnation, it's usually decline.
Manage uncertainty on the front foot: The world today is more uncertain than ever and progressive businessmen learn to manage uncertainty with planning and courage and growth is a way of doing that.
I want to be seen as a doer, as a hero, in my community and society: There is a need in most ambitious people to be a role model for someone or something. If that's your need, it's legitimate.
I need to make my family secure: All of us care for our families and work towards giving them a secure future.
Costs in business are rising: In a developing economy, most costs only rise. So if you don't grow well, your cost structure will get distorted, your business less profitable and eventually unprofitable. Growth works as a shock absorber for costs.
I can't keep working at my current level forever: Our energy levels have limits. If you build a strong business, it will allow you to hire people to manage it without your being involved in every decision.
Good people want to work in growing companies: If you are a smart businessman, you probably want to retain your best people and attract other talented people. In a world where human beings are more important than most other kinds of resource, this is a reason to grow.
If you want to add some more 'needs', add them to this list. Then choose a maximum of three or four which look most appropriate to you. You may have a change of mind later, that's fine, but you need a short list to get started.
© Entrepreneur India August 2012
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