Are you the type of business owner that no matter what you do, or no matter how hard you try, you just cannot seem to grow your business? Or have you ever had situations where opportunities just keep passing your business by? A business is meant to grow just as people grow and develop and a business that has not grown for the past few years of operations may have some serious issues that may have not have been addressed. In situations like these, it is very important for one to take a step back and evaluate the business, where it is now and where it is eventually headed. What could be the possible key factors in the company that prevents business growth?

Okay, so the business is not thriving. Either it is losing money and resources or it is just stuck in a plateau. Why is that? Maybe it\’s time to first look at the company\’s business model. So what is the company\’s main goal? How does it operate at the micro level? Sometimes, the company itself is rigged to lose right from the start. An undefined mission statement, and some ineffectual policies and procedures are just some of the things that will certainly inhibit the company\’s business growth.

Just as an ineffective business model is detrimental to overall growth, an unsellable product is just as bad. Questions would arise as to why the product is not selling. Maybe upon investigating the company\’s product or service, one can find the answers to the question. How is the product quality as compared to the other similar products out there? Does it deliver in terms of customer satisfaction? Does it have a defect that one is not aware of?

A lot of times, the main thing that really sets the company back is product quality problems. We\’ve heard of countless cases where companies lose ridiculous amounts of money having to recall a defective product line. Food manufacturers, Tire-companies, computer manufacturers, even car manufacturers have all fall victim to this.

Speaking of products, another thing that a company could investigate would be the product\’s profit margin in relation to the company\’s plan for business growth. Sometimes the product could be as sellable as lemonade on a hot day but it just does not carry with it enough profit to turn the company into a profitable one. It could very well be that the cost of operations is just too high, or maybe the supplies and materials used are just too expensive.

Another equally annoying deterrent to business growth is having counterproductive people in the company. It has been said many times before that people are the most important resource of business enterprises. While this is true in most cases, things can also happen the other way around. If one\’s company is unlucky enough to get people who do not have the ability or the character or personality to be competent enough for their position, the company literally bleeds money.

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Category: Business
Keywords: business growth,prevents business growth,business model,business enterprises