What personal risks will you face by expanding? Growing your business will be hazardous to your health and your wealth. What do you fear most could go wrong?
- Fear of failure—Are you afraid that you aren’t up to the challenge? Will growth keep you awake at night anxious about losing everything you have gained? Are you worried what others will think if you fail?
- Fear of Success —Are you scared that success will change you and turn you into a different person? Are you worried about the impact of success on your family? Do you believe you don’t really deserve success?
- Fear of Responsibility —Are you anxious about taking on more employees and being responsible for their livelihood? Do you have the courage to make a tough decision about hiring and firing?
- Fear of Losing Control —Are you frightened by the thought of delegating tasks to other staff? Or handing over equity to finance expansion? Or leaving the quality control in the hands of others?
An excerpt from Your Business Matters: Strategic Growth by Ted James and Barbara Mowat