That businesses need to exploit market opportunities for growth is almost a tautology. However for small businesses, the maximization of opportunities can neither be blind nor reckless if they wish to climb out of the category of being small. Startups are lauded for their hallmark of possessing vast potential for expansion despite their small size. Underpinned by scalable business models that solidify their growth potential, startups are distinguishable from small businesses by virtue of this scalability – and here lies the startup trap.
Small business with scalable models offer much promise to investors, possessing immense existing capacity and capability to succeed in the market because of their dynamism and adaptability. Not only does this secure capital from investment, but it also ensures that businesses can maintain profitability in varying periods of growth – be it during booms or slumps. Startups that wish to grow and succeed hence need to anchor their growth in scalability for both short and long term gains.
There is no dire lack of innovation in businesses today. What seems to fail most small companies is an inability to keep businesses afloat in times of varying market conditions. Arguably one of the biggest traps faced by startups is the difficulty of juggling both a fledging business idea and the operations that come with running a business. With both being equally essential, it is easy for business owners to lose sight of either objective. CityHub can provide instant, tailored office solutions that help ease operations so that owners can focus on the larger business. As companies grow, small business owners should consider slowly relinquishing daily operational roles to prioritize charting the company’s growth. In doing so, owners can better then achieve what they had set out to do – to see their business ideas through.
Beyond easing daily operations, CityHub is also prepared for the upsizing and downsizing of companies. CityHub’s packages for fully furnished, equipped and staffed offices are flexible and catered towards companies looking to restructure. Offering unparalleled convenience in restructuring, CityHub can hence also assist in ensuring scalability in a cost-efficient and effective manner.
While it is difficult to not be caught in the challenges of helming new businesses, small business owners need to strike an important balance between ensuring scalability and remaining fiercely loyal to their ambition in order to avoid falling into the startup trap. Forsaking either objective could only make it increasingly harder for small companies to scale the trap.