Why Some Companies Stay in the Slow Lane

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Some businesses excel and thrive, while others sputter and perish. There are distinct reasons why this occurs and if you want to be in the former group there are things that you need to do. The following contributed post is entitled, Why Some Companies Stay in the Slow Lane.

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There’s no company on earth that is guaranteed success when they first get started. Sure, sometimes it’s more likely for some businesses than others, but if the number of high profile failures has told us anything, it’s that failure is always an option. But let’s not focus on those large ventures: let’s look, instead, at small companies, and specifically at why some seem to rocket up, up, up, and some stay in the comparative slow lane for the duration of their existence. There are some shared characteristics that seem to run through businesses that follow this path.

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They Think Small

You’re not going to get very far, or anywhere at all for that matter, if you possess a small mindset. A company that sees themselves as small will find it impossible to achieve big things. It’s all about vision. There’s a big difference between a business owner that dreams big, and one that has eyes for nothing more than mere survival. Of course, it’s riskier to have a big vision, but as with most things in life, the person that dares is the one that wins.

The Wrong Players

Your company’s strength will depend on part on the need for the products and services that it provides, but you should also look at your staff; they’re the people who are driving the ship. If you’re not hiring correctly, then you will likely find that you’re not making as much progress as you would if you’d developed a robust hiring policy. It takes time, money and effort to hire any employees, but it’s worthwhile devoting that little extra effort to get the right one. If you don’t know how to hire the right employee, take a read of these useful tips.

They’re Not Wired For Success

You could have excellent ideas and a stellar team of employees, but if your business doesn’t have the right infrastructure, then success will likely be hard to come by. That’s because you won’t be working as productively as you could be, and when it comes to business success, productivity is what counts. If you’re currently managing your IT needs on your own, look at handing the responsibilities over to a company such as Tech Squared Inc. They can install the systems you need in order to work at your best, and also free up your time so that you can focus on your core business offerings.

Outdated Working Practices

The working world is changing, and, as with most advancements, it’s for the better. Studies have shown that the traditional way of working has major flaws. The new ways of working, which include more relaxed working hours and unorthodox offices, can significantly boost employee happiness and productivity.

Lack of Development

Finally, make sure you’re not standing still for too long. It’s the companies who refuse to settle, and who instead push forward with new ideas and plans, that achieve success. It’ll be in your interests to keep an eye on where your company is moving in the years to come.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.

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