Every entrepreneur dreams of a successful business that expands rapidly and generates dominance within one or more industries. This is one of the most common goals for businesses, as growth is often equated with success. Rapid growth is often seen as a good indicator by many investors and owners but balancing out the problems and disadvantages that come with such expansion is crucial in ensuring long-term viability. Bernard Decena, the owner of GK Global Inc., recently discussed his evaluation of growth in a conference call with clients about how such growth can be achieved.
One of the most important factors in carving out a niche for rapid growth is to carve out a niche in business, which Bernard Decena mentioned in the conference call. “Competition is a fact of life in business but finding ways to minimize the need to compete is a sure-fire way to generate explosive growth”, he said. “Despite what many say, there are many untapped niches within every industry on the face of the planet just waiting to be fulfilled by visionary entrepreneurs”. While Bernard Decena noted that drilling down into smaller niches may produce less profit in an absolute sense, relative growth based on percentages – and initial investment – is much more astronomical.
Another important factor in potentially accelerating growth is to enlist the services of other entrepreneurs. GK Global Inc. has observed that new businesses with multiple founders tend to have higher rates of success than those headed up by a single person. Particularly in its infancy, a business with multiple committed leaders can tackle more obstacles and cover more ground than those with a single leader.
Adhering to a vision is another critical point that Bernard Decena highlighted in the conference call. For some entrepreneurs and leaders, initial success can tempt them into pursuing new courses of action. While investing in new operations and targeting new audiences is in most cases a solid idea, GK Global Inc. advises its clients to adhere to the broader vision that led those leaders to pursue their dreams in the first place. When adhering to a particular vision, working hard to achieve it becomes easier and feels less like a mundane grind.
Through combined efforts, siloing, and adherence to vision, entrepreneurs from all walks of life can increase growth and accelerate expansion. As businesses continue to look for assistance in improving and expanding, GK Global Inc. will serve its clients by providing the insight necessary to rise above the competition.