Etini
Valued Contributor
We preach the need to start small so that your business vision will not die with you. While that is true, most entrepreneurs would start small, achieve some level of success, and refuse to develop and grow the business. I have seen a business that is at the same level for the past 15 years. No growth, no improvement. Still just operating at the basic level.
Growing your business helps you to be able to increase the price of your product according to the current value of the business. When you fail to develop your business, no matter how much inflation is prevalent, customers would not find it comfortable to pay a higher price for your product. Remember that customers use emotions and feelings to buy.
Also, when you develop your business, you increase the value and net worth of the business. This makes it easy for you to get funding that you might need to expand the business. It is important to develop and grow your business.
Growing your business helps you to be able to increase the price of your product according to the current value of the business. When you fail to develop your business, no matter how much inflation is prevalent, customers would not find it comfortable to pay a higher price for your product. Remember that customers use emotions and feelings to buy.
Also, when you develop your business, you increase the value and net worth of the business. This makes it easy for you to get funding that you might need to expand the business. It is important to develop and grow your business.