Be aware growth can come by chance.

Be aware that growth can also come through luck.

There are many reasons a business may achieve growth by chance rather than remain the same size. With growth, you benefit from economies of scale, eventually leading to more significant profit. Some owners can unexpectedly become obsessed with increasing their profit growth to achieve some unrelated objective.

When one of your competitors goes out of business, and you can buy the assets, you could be propelled into the growth stage. This is particularly so if your current assets facilitate increased capacity to grow.

Some business owners receive an inheritance out of the blue or a lottery win and immediately invest to obtain growth. Unfortunately, this usually turns into uncontrolled growth, which can lead to their eventual demise.

Luck won’t guarantee improvement in your personal or business growth. Luck comes when you leverage what you already have and play the cards you are dealt. But remember, uncontrolled growth can quickly lead to chaos. There are strategic growth strategies and organic growth strategies to consider.

Quotable quotes.

“Getting everything done in a smaller organisation can be overwhelming. However, it also forces you to focus on and plan critical activities for sustainable growth”. Peter Sergeant

“Improve the community’s growth and sustainability by creating better tourism products and services so you can minimise the stressors and strains and create better outcomes”.  Peter Sergeant