ActionCOACH MN Explains That It Takes More Than Just Funding To Make A Small Business Grow.
Business funding is a hot topic among small business leaders Most people agree our local and national economic recovery depends in large part on job creation. For businesses to create sustainable jobs, and hire new employees, business growth is necessary. Financing is a part of that process.
While the argument around why there is currently a shortage of funding for small business owners, and what should be done about it, is important, real growth requires more than just easily accessible funding. In the Sunday March 27, 2011 edition of the Minneapolis Star Tribune the article “Where are the Jobs?” talks about a few businesses that received money from the government with the intent being to create and maintain jobs. This story illustrates the challenge of ‘buying’ job growth.
What they all have in common is that the results in the business did not meet the expectations when the funding was provided and the question to ask is why?
We often think ‘If I could only HAVE the …’ whatever the missing piece is, the funding we want, the key team member, the one big job, in our business we will be able to reach our goals of success . So why is it that even after receiving the funding they believed would make the difference, these businesses were unable to reach their goals?
It takes more than just an increase in funding for a business to grow. It requires DOING things differently. And to successfully DO things differently the leader in the business is required to think or BE someone different.
BE X DO = HAVE
thinking x acting = results
Statistics show that 90% of lottery winners are broke within 5 years. They didn’t do what multi-millionaires do to earn that kind of money, they do not think like multi-millionaires’ think and they struggle to handle the money they win.
A leader’s willingness and ability to think differently, to learn how to BE a better leader, is the real key to long term business success. Financing can make this easier and quicker, it alone does not solve the problem in business.
Freeing up capital for small business growth is important and our business and bank communities need to find a way to do that responsibly. With or without an increase in funding to reach new levels of success business owners need to think outside the box, and be accountable to doing the right things right day after day to create the sustainable, profitable business.by