The Biggest Challenge Facing Your Small Business is ...
Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. These include things like hiring the right people, building a brand and so on. However, there are some that are unique to small businesses - ones most large companies have grown out of long ago. Here is the last in the series of the Biggest Challenges Facing Your Small Business (from contributor Andrew Beattie in Investopedia).
Final Week: Balancing Quality and Growth
Even when a business is not founder dependent, there comes a time when the issues from growth seems to match or even outweigh the benefits. Whether a service or a product, at some point a business must sacrifice in order to scale - this may mean not being able to personally manage every client relationship or not inspecting every widget.
Unfortunately, it is usually that level of personal engagement and that attention to detail that makes a business semi-successful. Therefore, many small business owners often find themselves tied to these habits to the detriment of the company's growth. There is a large middle ground between shoddy work and an unhealthy obsession with quality, so it is up to the business owner to navigate the company's processes towards a compromise that allows scale without hurting the brand.