MyCity4Her subscriber Carol Coughlin, CEO & Founder of BottomLine Growth has outlined valuable tips on how to spot growing pains in a business and when it is time for a change.
In the article, Coughlin explores the difference between typical business problems that require typical solutions and the type of problems “that are indicative of real growing pains and, therefore, require big doses of change in order for an organization to achieve full potential.”
“Understanding this difference is not only critical, but also difficult,” Carol writes. “In fact, the very nature of business prevents many CEOs from seeing signs of growing pains altogether. We can get so caught up in the daily work of the running of the company that we forget to raise our heads to see what’s really happening. Or, we can become so used to bumps in the road that even an unusually rocky period appears normal.”
Carol says many companies fail to realize that their companies are veering off course and may even be heading toward a cliff. “Fortunately, there are several tangible signs that can help you separate the typical the terrible,” she says.
Some of the signs that your company’s growing pains require a change in order to success include processes taking longer or completely falling apart, the CEO no longer being the glue that holds the business together, money becoming tight and more. Read the full list of warning signs here.