3 Planning for growth
Do you have all the skills, time, resources and organisational ability to keep all three aspects of your business (getting, delivering and running it) going? If not, you will have to consider who will get, do and run your business. That may mean becoming an employer with all the responsibilities and obligations that implies.
Jyoti Banerjee of the M-Institute (a not-for-profit organisation that supports and promotes growth of medium-sized businesses) observes that leading a small business versus a medium-sized business is very different and requires quite different behaviours and attitudes.
Watch this short video to hear Banerjee describe how medium-sized businesses are different to small businesses.
Small businesses tend to be concerned with survival and viability, and may also be based around the lifestyle of the owner.
A medium-sized business is concerned with growth and scaling up, which requires a different mindset and managerial behaviours as a result.