The views expressed are solely those of the author and do not necessarily reflect the views of the editors or publishers of Rolling Stone.
When you first start a business, you may think you need to build your business and make a profit as quickly as possible, but according to members of the Rolling Stone Culture Council, there is certainly an argument – or at least 12 – to do it. slow growth.
While rapid development may seem like the fastest way to succeed, slowing down and spending time may actually be the key to long-term sustainability. Below, each article explains one reason why you should choose to grow slowly when building your business, and why they believe this is the best way to succeed.
Slow growth allows mistakes
Slow is steady. Slow allows you to make small mistakes so you don’t have to make big mistakes. It’s all about time and planning. You need to focus on the long term, but have a plan that translates you into the short term, because the long term only matters if you succeed. – Graham Farrar, Brands House Brands
Building a solid reputation takes time
Reputation, reliability and even reviews don’t just happen overnight. These are qualities in any industry that contribute to your trust as a business. Yes, it is possible to start transferring profits quickly, but usually it is with the price or exploitation of someone or something else. Smart entrepreneurs tend to look beyond that to create a legacy, and sometimes that just takes time. – Brandy Garcia, Cottonwood Wine Tours
Business needs a solid foundation first
The shining stars burn brightly, but they also burn quickly. The slower approach allows you to build a solid foundation for longevity. The big, quick payout is incredibly tempting, but it rarely gives time to see the flaws in the plan. A solid foundation is key. – Luan Smith, Taboo and transgressions
Business ideas need time to mature
One argument I would make in favor of slow growth is that most business ideas are premature to conceive and are still at some stage of incubation. Starting a business, in my opinion, is like having a child. You may want your child to be something you are passionate about, but until he or she becomes mature enough to develop his or her own habits, attributes, and patterns, you just hope. Time plus data equals gains. – Ryan Larry, Versebooks, Inc.
Being the best is better than being the first
Do it right or don’t do it at all. There are so many pressures to be first in the market, but isn’t it better sometimes to be the best than the first? Stop for a moment and watch the race. Let them get confused and fail as you learn from their mistakes. Then go to the market with an advanced offer and staff that is not completely burned out. “Kate Rubenstein.”
With speed, someone always suffers
Someone always suffers in a system built too fast. These may be workers who produce components in conditions that are not ideal, the consumer whose cheap quick-release product fails, the company itself facing a social media review, or all of the above. Modern innovation is not just a great idea – it is also the ability to support this idea with sound ethical and environmental practices. – Jeffrey M. Zucker, Green Lion Partners
You need to be careful about your resources
Understand and store your resources. Whether it is capital, logistics or human, your company can only work at the pace that its resources allow. Learning what pace is realistic for your company is the key to long-term growth and survival. – Scott Thomas, Genetec Inc.
You will be able to better understand the impact of your actions
Many local cultures have made choices about how their decisions will affect the next seven generations. The delay could allow the company to understand how their actions will resonate with future generations to leave this world better than we found it. “Philip Wolfe, Cultivating Spirits.”
Slow growth allows you to be agile
When you start a business, especially if you are a founder or sole proprietor, you play all the roles. In my case, it was a sales representative, an account manager, an accountant, an audio editor, a writer, a designer, and so on. Growth cannot be sustained without foundation and each wave of expansion will come with its own pain. Slow growth, especially in the beginning, gives you time to prepare, learn and be agile. – Ginny Saraswati, Ginny Media
It gives you the opportunity to create something better
With each new customer, your ability to repeat what you deliver is being challenged more and more. As a leader, your ability to see fine detail will decrease, and your time spent on creative solutions and sophistication will decrease. Enjoy being small! This is your best chance to create something better than what already exists on the market. – Michael Greig Thomas, Echo Base
Gives you time to troubleshoot
Slow and steady growth allows you not only to continue to deliver a great product all the time, but also gives you time, space and energy to fix all the problems and really assess what works, what doesn’t and why and correct if necessary. Too fast and everything can burn. – Susan Johnston, New Media Film Festival®
Allows you to focus on your mission
The mission of profit is a good way to do business. It takes into account the well-being of the company’s employees and customers, but it can take time. This time is needed to prove that you are doing what you said you would do. You build trust by building a company that, through action, maintains its mission according to its principles, which in this climate becomes a requirement for consumers to make money. – Stephanie Dylan, Stephanie Dylan Art