If you’ve been following our No Man’s Land blog series up to this point, you’ve learned what causes you to enter No Man’s Land, the troubles you will face there and how to propel your company forward and out of this phase. By this time, you’ve thought through the four Ms (market, management, model & money) and believe you can lead your company through No Man’s Land while maintaining enough momentum to carry on, even when times get tough.
However, there is one question that needs to be answered: should your company grow? Along with that question come other things to consider:
- Are the benefits of working through No Man’s Land always worth the large costs?
- What does the future look like after No Man’s Land?
Some entrepreneurs are determined to grow, no matter what obstacles and costs they may stumble across. Others may want to stay at the size they have established, while innovating and working on improving their current assets. There are also those who are ready to look at their endgame and sell the business.
So, should your company get big? Well, there really is no correct answer. The journey through No Man’s Land and the climb out of it reflects not only the financial wellbeing of the business and its ability to apply the four Ms, but it also looks into the determination and ambition of the entrepreneur. Leading a company after it passes through No Man’s Land requires taking a step back, and looking at the company from an investor’s perspective. Is the business making money and providing return on investment, or is the business not going to survive the journey it went through? To be successful, the entrepreneur must decide whether running the business in a way that keeps investors happy is also consistent with their own values and dreams.
The decision of whether or not to grow your company can be terribly difficult when you don’t know what exactly will happen in the future. It is hard to decide if growth is really what is best for the business. Each path, growing or not growing, carries risks and benefits that are often hard to weigh.
Finding answers to these types of questions will help you determine a course of action that will be satisfying in the long run.
There are many reasons why entrepreneurs make these decisions, and they don’t all focus on financials, market share or the product, to name a few. In the end, the decision of whether to grow big or not becomes a personal case. You need to sit back and focus on the task of making this tough decision and ask yourself a couple questions:
- Why did you get into business in the first place?
- Is the business still delivering what it was set out to provide?
- What do you hope to gain from the business?