Why personal growth is important for small business growth

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Why personal growth is important for small business growth

If you are a small business owner, you’re probably so focused on day-to-day tasks, that you forget about focusing on yourself. It’s hard, sometimes, to think about personal growth in an environment that’s constantly forcing your attention elsewhere. Business owners are relied upon to keep customers and employees happy while also handling admin responsibilities. It’s a lot to place on one person’s shoulders.

With a business owner being so integral to whether a business sinks or swims, it’s surprising how little attention is paid to the personal growth of an entrepreneur. However, a business owner that focuses on their own personal growth is more likely to witness the general health of their business increase.

One way to regain focus is to create a personal growth plan. The plan is a set of particular intentions coupled with measurable actions. They help business owners pivot their attention to areas of individual development in order to improve the overall health and future growth of their venture.

Personal growth plans may help you answer important questions, such as:

  • What’s really important to you?
  • How are your actions improving or hindering your company’s well-being?
  • What legacy do you want to leave behind?

Personal growth plans do more than just answer these questions. They help you grow your business too. Here’s how:

They Help You Refocus on the ‘Why’

As Keystone Focalpoint’s CEO Harry Nathoo points out, many entrepreneurs “spend most of their time ‘fire-fighting’ in their business and spend the least time on strategically planning their business. They then lose CLARITY as to why they actually went into business and forget their PURPOSE.” Entrepreneurs that lose such clarity may end up feeling frustrated and listless. Continuously reminding yourself “why” you started reinvigorates your original passion.

They Provide Continuous Learning Opportunities

Continuously learning more about your business and how to manage it drives away the monotony of work. By learning new skills or tricks of the trade, you will feel energised and excited when faced with challenges. This passion to learn more can easily spread to employees as well, and keeps everyone curious as they seek out more effective ways to do business.

They Give You Permission to Look Outwards for Solutions

Whilst researching this article I also spoke to Kerrie Sheaves of Foundational Business Consulting who pointed out that a large number of people jump from corporate to start their own business for family reasons as they are looking for a better work-life balance. Over time they realise they don’t actually know how to run a business as well as they thought and find they are losing their lifestyle even more than when they were employed. This is generally caused by people entering the business due to their high level of passion but they do not have a high level of practical experience running the total operation.

Personal growth means understanding that you can’t know everything. That’s why it helps to seek out fellow entrepreneurs you can bounce ideas off of. After all, no one understands the unique challenges of being an entrepreneur like another entrepreneur.

You might also think about hiring a professional coach. A professional can coach you while also being an objective party that is able to analyse your business. They can share an outsider’s perspective to better pinpoint strengths and weaknesses. A coach will be able to help you build a clear roadmap for growth. They can also help lay out attainable milestones and discuss best practices for how to get there.

Ultimately, planning a personal growth path will help you navigate towards long-term habits to help your company succeed. It also goes beyond that, by helping you feel more fulfilled when witnessing the results as your growth plan comes to life.

Whether you seek outside assistance, like a professional coach, or simply set manageable goals for yourself, in the long run, you’ll be setting a foundation for a better business.

 

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