Published on April 2nd, 2019 | by Sunit Nandi0
Small Business Benefits of Leaping Outside Your Comfort Zone
Today in the world of technology, with all the opportunities, small business have gotten their chance of getting out of their comfort zone and stepping out to compete with big businesses. Now in 2018-19 small businesses have added more new jobs than large businesses. In 2018, small business organizations with less than $5 million revenues annually had seen a growth of 8%. These figures are much better than what we have seen in the past. New startups are also joining the market and recording an exponential growth.
A growing business requires a lot of guts. To start a new business in this competitive world requires more efforts. With this effort, it is important to have confidence in what are you going to give to the market. It is required for every businessman to take risks and work harder because there it will be business competitors that can easily take over. While taking risk is a huge task, it is also important that you get out of your comfort zone. Because stepping out of the comfort zone is when you take the actual risk, and business is all about risk. Until and unless you are hungry for success, you will have to step aside from your usual casual business tactics and move on to take some risks. To work actually towards your business heights, some goals majorly require attention and must be interlinked to get the desired work done. Being a businessman requires a lot of qualities; one of them is being a risk taker. Thus, to enhance your business and to reach onto some great heights, you need to be leaping out of your comfort zone!
Stepping aside of the usual requires a lot of planning and setting goals. It is also important to know if what you ought to be working on is enhancing and broadening your business, which is why small business guides like those from BizOp can be of immense help to small business owners. A business always works on certain pillars, one of which is deciding the objectives and goals for your project. There need to be key factors to work upon, to make sure that they fit favorably into the environment. Suddenly a question arises that how we are supposed to plan everything out in just a minute and step outside of something that is already in our hands. Well, business is all about these risks. But, it is also about how well can you analyze and portray yourselves towards your business.
This is what exactly means stepping out of your comfort zone. You might have a well-established business of your own, but if you do not try to implement something new, there would never be an unexpected hike. Thus, it is very, much important to understand, analyze and work towards your business goals. The best thing you can do for this is the SWOT Analysis. SWOT Analysis exactly talks about what is required to have and what is not.
Your business needs a change, and only a SWOT analysis can deliver this job effectively. It is one of the techniques that will surely push you of your comfort zone. Now let’s understand the SWOT Analysis. SWOT stands for Strengths, Weakness, Opportunities, and Threats. These are the four pillars which complete the SWOT template. While these have their roles wich they need to perform, they all come together to become responsible for the confidence of taking risks in your business.
- STRENGTHS: While working in your business, you might have always looked upon the best that is there. This best is what makes the first pillar of your analysis, the Strength. This will help you find out the actual best qualities that posses and the ones that you are expert upon. It is not just strength for the business but also you. As soon as you start knowing the positives and your strengths, you easily analyze the features that are to be polished, presented and are going to be the stars that will shine in your business.
- WEAKNESS: Listing out the best part of your business also brings you towards what is that lags behind in your who9le plan. There might be some factors that need to improve that presented. This is what counts in your weakness. You need to know every single aspect of what can be profit and loss at the same time. This analysis will make you understand everything that needs amendments.
- OPPORTUNITIES: business is a field where it is very important to find out how can you make it grow to the most. It will be of no use to start it down without having any exposure towards it. This is why you are required to search for every possible opportunity. You have to knock all the doors and make sure that you represent and expand your business. This is where you will know your place in the market with respect to the other growing competition.
- THREATS: This will justify the competitions with other growing companies. Like there might be a lot of businesses that might resemble yours. Thus, it is also required to look for the best options that will make you unique from all those. Also, there might be some well-established ones from before, make sure you are well aware of your threats.
Other than the SWOT Analysis, there can also be other factors that might be beneficial for you to come out of your comfort zone. Some of such can be
- Personal and professional improvements: When you work on towards taking risks and trying new things, you also come across to explore not just your business but yourselves too. You will get to know how good you can be while working under pressure and even sometimes knowing all the possible things that might happen if you fail. That is why stepping out helps in improving yourselves not just as a professional, but also as a human being by taking challenges and knowing how as a person you are on all of them.
- Exploring the market and the people around: While taking your business to another level, you will come across a lot of new people and businessmen that might not know you. This will help in growing your business. Eventually, you will be able to make more and more contacts and explore the world of business. Also, entering into the competitive environment will help you analyze more on how the market works as a business person. You will then be aware of every single tactic that you can play against other businesses and vice versa.
- Expecting the unexpected: As you will work on the heights, there will be times that situations might occur which are very unexpected. Thus, once you figure out on working with them, you get experience for the next. In this way, you will be prone to deal with any sort of situation. Taking risk will increase the number of challenges, and the difficulties will automatically rise to solve them. This will make you an expert in handling every hurdle that might come in your way.