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The desire to achieve exponential growth is universal — every entrepreneur dreams of becoming a game-changer and leaving a lasting mark in the industry. However, unlike massive brands, not everyone has unlocked the capacity to achieve such rapid growth. For some, scaling exponentially can be a slow and painful process. While we strive to move forward, there are times when the setback outweighs the progress, and our steps to growth are often met with disheartening steps backward. So, even when you’re growing, it can feel like you’re a hamster on a wheel, constantly running but never really getting anywhere.
But what if I told you that scaling and taking your business to the next level is not just a pipe dream? It’s not something that’s reserved for the chosen few. With the right approach and understanding, it’s only a matter of time before you achieve exponential growth in your business as well.
Related: 5 Proven Ways to Experience Unreal Business Growth (Fast!)
What limits your growth?
As a competent business person, I’m sure you’re itching to know the how-tos of achieving exponential growth. But do you know that the “what” part is just as crucial as the “how” part of the equation? Have you ever asked yourself what’s limiting your growth? What’s holding you back from achieving your desired outcome?
You see, to treat an ailing patient, the doctor needs an accurate diagnosis of the condition first. Similarly in business, we have to identify the root cause of the problem before we can start making progress. I strongly believe that what we reveal, we can heal. Being aware of what factors are keeping you from growing is a huge advantage. This way, you can pinpoint precisely what is needed for your business so you can structure the steps you are going to take moving forward. Once you’ve identified these limiting factors, you can start overcoming them and advance at an accelerated rate. Here are a few factors that you might have overlooked:
Refusing to step out of your comfort zone
Your comfort zone is essentially a psychological state where things feel familiar; a place where you are at ease and in control. It’s like a fortress where you are secure and protected. It is such a positive and warm space that most people don’t even realize that they’re buried way too deep in it. Before you know it, you’ve become grounded in the same place. Stuck and unchanging.
Well isn’t that a good thing, you might ask? After all, change can be scary and unpredictable. Why risk it? Why fix what’s not broken? Is it necessary to stretch yourself out of your comfort zone when things are going well for your business? The answer is YES.
Let’s be honest. It’s either you’re growing or you’re dying. Just because we aren’t failing, it doesn’t mean that we’re fine. We often convince ourselves that we have the time to figure it out. “I’ll be fine.” It gets to our heads and makes us complacent, and being complacent is not growing. Being in the same place does not guarantee your growth because growth never happens in the land of comfort.
If you’re looking to scale, to 10x your business, it means that you are willing to move outside of the familiar boundaries. You are willing to push yourself beyond what you think you are capable of and take risks. I get it, stepping out of your comfort zone can be daunting. Changing your lifestyle alone is not always easy and comfortable, but without sacrifice, there’s no growth. You have to be willing to try new things, explore new ideas and take on challenges that may seem daunting at first. This is where true growth happens — when you break out of the mold, shatter your self-imposed limitations and embrace discomfort as a necessary part of the journey, it becomes easier to move toward exponential growth. Don’t worry, we’ve all been there. This factor is a common hurdle for most, and it is usually caused by not thinking big enough.
Your vision is not big enough
Often, it’s not that we want to think small, but rather, we are simply unaware that our vision is narrow. As entrepreneurs, we are constantly on the move, and it’s easy to get caught up in our day-to-day operations. This forces us to focus on short-term gains and eventually condition our minds to lean into “tunnel vision.” Tunnel vision is like looking through a narrow lens, focusing solely on what’s directly in front of you, often neglecting the panoramic view of possibilities around. Though this looks like you have your focus in the right place, it doesn’t mean that you’re making the most of your business. Being fixated on a single strategy or objective leaves little room for adaptability and innovation. It’s restricting you from making decisions that lead to bigger rewards in the long run.
Let’s say you model success within your industry — you’re only going to have incremental gains of 6-7% growth at best. Where you have exponential gains is when you borrow something that’s working well in another industry and apply it to your business. This is called the “funnel vision.” Funnel vision represents a broader perspective that resembles the shape of a funnel. It acknowledges the importance of starting with a wide range of options and gradually refining them as they travel through the funnel to materialize into targeted actionable goals. This is where visionary leaders live and thrive. They see opportunities in different areas and aren’t afraid to pivot or adapt their strategies for growth. If only we allow ourselves to have a bigger vision, we can take our businesses to new heights and open possibilities we’ve never seen before.
Related: 10 Growth Strategies Every Business Owner Should Know
Failing to set your priorities
Time is ticking, your time is valuable. Having a plan and a vision will never be enough. You must align your actions with your priorities if you truly want to make progress toward your goals. It’s not about simply going through the motions; it’s about the intent. Where do you focus your time and energy? What are your top priorities, and how much effort are you putting into them? Often, this becomes a limiting factor because we have no clear idea of what our priorities should be.
Most people think that having that drive and hard work is enough, but contrary to popular belief, doing everything you can is not a good idea. You’ll never be able to scale doing $10/hr work. Your time is valuable, and you should be spending it on high-yield tasks that move the needle instead of getting bogged down in menial tasks. What if you could delegate those tasks to someone else, leaving yourself more time to focus on the big picture? What if you knew exactly what actions would have the most impact and prioritize them accordingly instead of getting sidetracked by smaller, less significant tasks?
If you want to 10x your business, you have to be able to let go of your inner control freak and step back. Your role as a leader is to take the reins and not be the one pulling the carriage. Set clear priorities, delegate tasks, and shift your focus with the intent to scale. Say no to distractions, and focus on revenue-generating activities. It’s not just about making a move, but it’s about making an impact in your business. Strategically positioning yourself is just as important as taking action. Remember, your time is limited, so use it wisely and take advantage of every opportunity to propel your business forward.
Missing out on significant opportunities
When opportunities knock, it’s essential to be prepared to answer the door. However, it’s a fatal flaw to answer to every opportunity that comes your way. Quality is just as important as quantity. Without discernment, you may find yourself spread too thin, unable to fully capitalize on the opportunities that truly align with your goals and priorities. It’s like trying to catch every wave in the ocean; you’ll exhaust yourself in the process and miss out on the perfect wave that could have propelled you forward. This occurs because we don’t have a decision-making filter in place. It’s important that whenever an opportunity comes by, it does not just slip through without being assessed thoroughly. You need to have a decision-making filter that will take you through a process of selecting an opportunity.
One good example is the British rowing team that won the Gold at the 2000 Olympics. They were horrible leading up to it until they changed their whole philosophy and rallied around one simple concept. It was about “Will this make the boat go faster?”
“If you eat this donut, will it make the boat go faster?”
“If you are out partying tonight, will that make the boat go faster?”
It was a filter they used to decide on their opportunities and that got them their Gold at the Olympics. The same thing can be applied to our business and in our lives. Whatever decision we are making, it should go through a filter that will help us assess it. If any opportunity presents itself, you should now be able to tell if it will leverage your business or not. No matter how great the opportunities are, saying “yes” to everything is not the answer. It’s very important to look at the bigger picture and remember that “no” is an answer too.
Losing your momentum
Running out of gas in the middle of growth is not a very pleasant experience. Unfortunately, it happens more often than we’d like to admit. In times when competition is tougher than it’s ever been, we are bound to face obstacles. We are bound to face burnout and stagnation. However, the problem does not lie in these obstacles — it lies in how we react to them. Many people who lost their momentum tend to get used to their current state and forget why they started in the first place. They get stuck, and Groundhog Day becomes Groundhog Month to Groundhog Year. And before you know it, you are now trapped in a vicious cycle of mediocrity — not failing, yet unable to move forward — just like a hamster on a wheel.
When this happens, it’s important to stop and reassess your situation. Remember that the size of your business is a direct reflection of how capable you are as a leader. So, what are you doing to get out of this rut? Are you constantly improving yourself? Are your habits supporting your growth? Are you surrounding yourself with like-minded individuals who inspire and push you to keep going? How about your financials? Is it enough to fuel your growth?
Related: 6 Tips to Drive Sustainable Business Growth
Step back and take a reality check. You are allowed to rest in the middle of the chaos. Don’t get caught up in the day-to-day grind. Breathe. Remember why you started this journey in the first place. Reconnect with your purpose and passion. And most importantly, don’t be afraid to seek help when you need it. Whether it’s hiring a coach, joining a mastermind group or seeking advice from mentors, there are plenty of resources available to help you navigate through the challenges and reignite your momentum. It’s time to break free and create the path to scale your business and move forward.
In essence, while the road to exponential growth may seem long and winding, it’s by no means an unattainable goal. The key lies in steering your ship in the right direction and having the determination to break through the barriers that hinder your growth. Let’s remind ourselves that Rome was not built in a day and neither was any successful business. Known brands didn’t reach their peak by chance; it’s the result of a rigorous process to constantly hone and achieve what they are now. So, embrace the journey, stay focused on your goals, and don’t be afraid to aim higher, because every breakthrough begins with a moment of courage. Keep making it happen!
This article is from Entrepreneur.com
