What is the biggest fear of an entrepreneur at time of expansion ?

Honestly, only one.

Time for Expansion?
An entrepreneur is never ever doubtful of his venture/idea because that proof of the pudding is in front of the world in form of his/her successful running business. We need to dig one step deeper, he/she is always skeptical of someone else being able to learn the same and put it in play.

This brings us to 2 critical questions to consider for the entrepreneur:

  1. What Does the Consumer buy from me?
  2. Am I Ready to think and move beyond Consumer/retail?

That brings us to First Question – What is that the customer REALLY buys from you?

Q. Can you honestly tell why your customers would like to buy from you, but not from your competitors?
A. You know it that it is not because of great quality, or low price, or it’s your close network, or you are the only supplier in market, because that can hold ground till tomorrow evening only.

Sadly, it is none of the above in today’s context. The truth is that customers DON’T buy your product, they BUY you. They buy what you say because you are listening to and solving their problems better than others. You are able to develop some relationship with your customer and that has made their buying decision easier.

Once this fact is assimilated in your system, the solution is simple – One- Standardisation of the offering and representation, and Two – putting adequate training structures in place.  And this becomes the precise reason for you to start thinking about your business partners and not only end consumers.

The second Question, essentially says – Determine if your business can be duplicated (for example, run without you). If your presence is critical to your business’ success, it cannot be expected to operate well without you. One way to test this is to ask yourself, “Does my business know I own it?” If your customers do not insist on doing business directly with you, your business is a candidate for expansion.

Now, in all probabilities, a business owner definitely is “in” the business all the time. And if he needs to move out from there, he is scared that he will lose either his customers or his brand reputation.

Can it be addressed then? Can you move from “in” the business and concentrate being “on” the business?
Most Definitely, Yes. So, What are we waiting for.

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