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Sometimes you have to grow smaller to get bigger

If you are feeling stressed in your business, it may be because you are trying to do too much. Your resources are not focused on doing what generates the most profits for your business. Bigger is not always better! Doing less could actually help you do more. For instance, if you have ten product lines and you are not getting the sales results you want, you can divest five of those ten product lines. The probability is you’ve created products because it felt good to you at the time and not because it was part of any long term strategy or mission. Entrepreneurs often suffer from lack of focus. By getting rid of the five that is not in line with your company’s mission, you can focus your resources on marketing the five that are, thereby increasing your sales. If you are in the service business, you can choose to focus on certain customer segments and fire those customers that are not consistent with your new direction (your least profitable customers).

Focus brings about less stress. If you find yourself very stressed in your business, then you may be doing too much. You need to analyze your business to see what activities are “value destroying” versus “value creating”. By letting go of the value destroyers, you can focus on growing the value creators. The resources of your business should be focused on what you do best.

Your products and services should be focused around your mission and vision. This helps you become more efficient and better serve your customers. Don’t be afraid to let go, so the ones with the best chance of succeeding can do so. Moreover, focus has the added benefits of being able to find the best people to deliver your mission. One of the hiring problems, entrepreneurs have is hiring generalist which they deem necessary because of their lack of focus. With focus, you spend your time only with candidates who get what you do.