A Letter to Myself: Being Afraid of Growth Opportunities
One of my mentors shared how he encourages his employees to spend 20% of their budget on new ideas, and he isn't bothered whether or not they fail, since it is these very initiatives that are imperative to their growth in a multibillion-dollar market.
So here's the question - (and the same applies to personal growth)
Whether or not your business is strapped for cash, what is the opportunity of hiring someone to manage parts of your business?
Consider the scenario in which you HAVE TO hire someone...... What are all the positive outcomes your business can have from additional help?
Here's the context -
1. What is one thing you could be pursuing for your business to grow your metrics?
2. How much time is dedicated to these opportunities? Is the majority of your schedule spent maintaining your current programs and/or supporting your existing customer base?
3. What is the potential impact of not spending more time on growth?
It is really easy for us to stay busy supporting our existing businesses line and using our "busy" schedules as a crutch to not pursue growth opportunities.
And it might be because you are not 100% sure that those growth opportunities will work, but you are exactly 100% sure the work that is needed to continue to maintain the business.
This is where your apprehension comes in and it is the reason why - despite knowing what your business needs to do to grow, or knowing what your perfect team could look like - you had not hired or invested in growth projects.
And until you take a step back and have the courage to venture to the unknown territories of growth opportunities, whether that is spending 20% on new projects, delegating things off, or expanding your team - your company will not be able to grow as fast as your ambition dictates.
So the question is, are you afraid of growth opportunities or do you see it as necessary to transcend your business to new heights?
Product Strategist | Mays MBA Class of 21
3yI think necessity is truly the mother or innovation. That innovation could be business or even personal. We are too afraid to move out of our comfort zone before we are forced to do so, even if we KNOW it is for our own good. That is why in my opinion challenging yourself is the biggest gift you can give yourself. I personally believe in the 70-20-10 rule. 70% of my time, effort and money go towards what I've been doing over the years and have normalized. 20% towards something I've just recently started to do and want to perfect. The last 10% goes towards something completely new and different, crazy even. This helps to keep me challenged. Work or personal projects