Do you prefer traction
over business growth?
Do you confuse the difference between your small business having sales traction and business growth? If you do, you’re not alone! Many Small Business Owners think these two are one in the same. They are not.
We all agree that Entrepreneurs are filled with the spirit of creating a solution to a problem. Small Business Owners do this too!
Usually people who view themselves as an Entrepreneur are slow to step into creating a business to fulfill their vision. All Small Business Owners are Entrepreneurs, but not all Entrepreneurs run their business, or gig, like a business. Unfortunately, this one difference often determines an Entrepreneur’s success.
Over the past couple months I’ve heard 3 different Entrepreneurs say they “made a good amount of money over the past few years”. Then they added “but now I’m ready to build a real business”. They were still talking about doing their businesses online. Now they want to add the layers of a full functioning business for their success to be sustained.
This had me thinking about what I wrote about in the #1 Bestseller for Small Business and Entrepreneurship: “Brilliant Breakthroughs for Small Business Owners” regarding The Entrepreneur Explosion and The Entrepreneur Epidemic we are experiencing now. The rest of this post is a recap of those three conversations I mentioned…
Traction vs. Growth Question & Answer:
Q: Why do Entrepreneurs and new Small Business Owners commonly believe their business is rocking when they have gained some sales traction?
A: They have been misinformed by others with a very harmful and prevalent miscommunication in business that sales traction equals business growth.
Traction vs. Growth Insights:
When sales traction is experienced, it indicates a sale or multiple sales were made. This is an indicator that growth is in process. The difference? This is sales growth, not business growth.
Does sales growth and traction help a business grow? Yes, and it isn’t the only area of growth necessary for business growth.
Sales growth is an indicator that you offered something others wanted to purchase. Congratulations! This is the beginning of forward movement.
Here’s a great way to clarify: Imagine you are driving your car and the road has snow on it. When you first accelerate, you may be spinning your wheels. Slowly moving as you begin gaining t-r-a-c-t-i-o-n.
Once you have enough traction you can start progressing in the desired direction. However, if you don’t have enough fuel or a clean windshield, are you moving in a direction to get you to your destination? Does traction get you across your finish line?
Things like ensuring there’s enough fuel, a clean windshield, good tires and brakes, etc. for your car, are similar to having a marketing department, accounting systems, protection for your intellectual property, etc. for your business.
Creating a business, according to the Small Business Administration, implies you have officially filed your business as a functioning entity, have a separate bank account, filing taxes for accumulating revenue via your sales, and other activities to own an official business. This is very different than posting a facebook ad and collecting credit cards to process. Again, this is a tactic growing businesses may use, but it isn’t all they do.
REMEMBER:
Sales traction is required to assist business growth, but it isn’t the only required element.
Now What?
All those other business support activities are necessary if you want your business to move beyond surviving or continuing to settle for mediocre results. I really understand these might not be the activities you want to do. Yet if you want to continue doing YOUR Business this will help you create a stronger and more successful business.
I know it can be frustrating. After all, “Business isn’t easy, but it can be simple.” This is one of my more embraced quotes because the simple eloquence is undeniable. If you want to get clarity regarding what steps will better serve YOUR Business’s Performance, click on No-cost Consultation and let me know what’s up. Then, we’ll find a time to discuss what actions you should be taking to better support YOUR Business’s Growth.
YOUR Business’s Success depends on you understanding the difference between and the interfacing between traction and business growth. What can you boldly step into to help YOUR Business attain your preferred results? Feel free to share in the comment section.
THANKS FOR ALLOWING ME TO HELP YOU IMPROVE YOUR BUSINESS!
Brilliant Breakthroughs, Inc.
Making it possible to Simplify Small Business Success!
Call Maggie (262) 716.7750 for YOUR No-cost Consultation
Maggie Mongan, #1 Bestselling Author
Master Business Coach & Trainer for Small Businesses
Brilliant Breakthroughs, Inc.
Direct Dial: 262-716-7750
LinkedIn: MaggieMongan
p.s.: Let’s see how we can create better outcomes through making better decisions in real-time.
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