When you play Basketball, which game’s rules do you follow?
Sounds like a silly question. But do you know that in your small business, you could be playing by the rules that are no longer relevant? You know it when your revenue is stagnant; you feel stagnant.
If you are a small business, you have to morph as per the new rules or die. When you play by the old rules, you become irrelevant; customers and employees leave you; profits lag; people don’t scale. The rules of the game
change fast. Are you aware of the changing rules or are you busy in the routine of the day?
What do I mean by the ‘rules’? They could be:
1. Extent and the nature of marketing you do
2. Extent of work you delegate
3. Cash reserves and working capital required
4. Number of employees on bench
And when do these rules change? Some events happen that trigger off the change. E.g.
1. When you win a large contract
2. When your product goes beta
3. When you hire an employee; when you hire substantially large number of employees
4. When you get investment from someone otherthan yourself or immediate family
Obviously, these rules and the changes are not exhaustive.
Have you experienced the changing rules yourself? After you realized, what activities in your small business did you change?
Picture credit: Linnybinnypix