Grow or Go

The question of when to “grow or go” faces every business owner.  You stand at the precipice and ask yourself if you want to

Grow into your goal

Grow into your goal

expand the business or sell.  How do you decide?

The questions come down to priorities.  The quantifiable ones are the easier ones.

Are you making money?

Are you making money?  Seriously what profit are you generating on a consistent basis? Look at the focused hours you are investing in order to generate that profit.  What is your time and effort worth?

On the good days when business is flowing and you are receiving the emotional satisfaction of achievement, the monetary amount seems less significant but on the bad days when customers or employees are unhappy about something, the significance changes dramatically.  At 8 am this business may feel like the best idea you have ever had, but at 2 am when you awake from a restless sleep wrestling with a problem, it seems like the worst idea.

Is it enough?

Profit vs time and effort

Profit vs time and effort

On a strictly quantifiable basis, is the amount of money you are earning enough to pay your bills, save some money for your future retirement and support the lifestyle you envision for yourself and your family?  If you just felt the twinge or a knot in your stomach, then perhaps this calculation deserves a more serious analysis.

I remember when this very dilemma arose in my business.  The first time it arose, the industry was growing, my market share was growing and the potential appeared strong that my income would be increasing.  I streamlined a few details with the operations and overhead to improve the current service to my clients and staff.

My business was property management.  At that time I was working primarily with executive clients (non-rental clients who were absentee owners) and owners and tenants in long term rental properties.  Since my company was located in a ski resort, the decision was to expand into vacation rentals as well.

Vacation rentals required considerably more employees to handle housekeeping, reservations and maintenance.  It also required expensive marketing and an entirely new segment of owners who wanted to rent their homes to vacationers.  The increased cost to the company was enormous but so was the profit potential.  Vacation rentals generate a much higher profit margin for the company and the owners when everything works: the snow, the flow of renters and wise management decisions.

The risk and initial company capital outlay was scary high.  The reward potential was also temptingly high.  My decision was carefully weighed from all angles.  The decision was to go for it.  Thankfully, it exceeded my most optimistic projections.

How long will the profit be sustainable?

At that time the profit potential appeared to be increasing.  15 years later when the same decision of “grow or go” arose, the

Time is Valuable

“Time Thinking”

decision was to sell.


  1. Profit – amount, trend up or down, consistency, and potential for the future
  2. Hours – total personal hours, rate per hour actually earned, potential for the future
  3. Industry- trend for the industry locally and nationwide

These are quantifiable considerations.  Numbers are absolute.  If the decision is to sell as mine was 15 years later, these are the numbers which a potential purchaser will also scrutinize.

Emotional factors

What is your personal passion level?  How passionate are you about your business?  This is the intangible which weighs heavily on the decision.  Even if you are not earning enough money in total or enough money per hour, the personal passion factor can outweigh the quantifiable.  If you are so passionate about what you are doing that you would do it even if you were not making any money, then by all means continue.

thinking and feelingThe emotional factor weighs heavily.  What are your priorities?


  1. Financial needs
  2. Future planning
  3. Personal satisfaction

There comes a time when we look at what we are doing and determine the future potential.  If you continue on your current trend, will you reach your retirement goals?  Even more pressing is the question of paying your current bills.

Deciding to grow or go is not easy, quick or non-emotional.  You invested your hard earned capital, brain power, precious time and emotions.  The economic climate changes as does your personal situation.  Deciding to “grow or go” is intense.

Are you seeking more success in your life and career? Inquire about hiring Elaine Love for your next sales training, executive meeting or personal growth presentation.  Let me inspire you to reach your potential.,

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”Elaine spoke to our top leaders from 8 states, she gave us new and positive ways to connect with people
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