This is a question we recently asked a local networking group —and one I always ask when onboarding new clients. And it amazes me to hear the diverse range of answers.
Many tend to associate growth with more revenue, higher profits, and bigger business value. And while, “I want to double my revenue this year,” is a common—and acceptable—response, more often, we hear our clients say that growth is about more than money. They want to grow as individuals; they want to improve their workplace for their employees; they want to be successful enough to enjoy their lives with their families.
Take Anita Jacobus for example—a highly successful realtor with a multi-million dollar portfolio of business. But when COVID-19 turned her business and health upside-down, growth took on new meaning. It required taking a deep dive into expenses, streamlining back office procedures, investing in new technology, and creating investments that would support the team during such downturns in the future. Growth meant taking a step back to launch forward.
For Jeff’s Bagel Run, growth is taking his online, pop-up bagel business to Main Street. He’s using Kickstarter to fund a brick-and-mortar campaign. But he also knows that 20% of small businesses fail in their first year, 55% in the third. So while Jeff is ready to go gangbusters, we’re charting a steady path of growth that includes significant tax planning.
This issue is filled with more growth stories that we hope resonate with you and inspire you to revisit your definition of growth. It’s the perfect time, actually—not only because there is a refreshing wave of optimism in the air as more people get vaccinated and businesses begin to rebound, but because it’s the second quarter. Between now and mid-June, Q2 into Q3, businesses take a fresh look at where they are financially and decide how or why to pivot. There’s always an opportunity to make a change that can spell g-r-o-w-t-h for the rest of the year.
I’d love to know: what does growth mean to you? Email me or tell us about it on Instagram or Facebook.
