GNT #010: Is it Time to Scale Back? How to Know When Less is More.

Read time: 4 minutes

"Should I keep pushing with this?"

We all will face this question at some point growing our business and spending time executing growth strategies.

(Example: an event series, social media calendar, blogging, video production, podcasting, running a community, etc, etc, etc.)

Our natural inclination is to grow as quickly and as much as possible to prove a return on the time and resources we've invested.

But there comes a point in time when you realize that you've reached your limit and you're not getting the results you should have by now with this plan of action.

Although I'm a firm believer in giving things time to grow with the right strategy, I also know that it's a waste of time to keep pushing on something that's not working for you.

Or maybe realize you're doing too much, and need to put the same time into fewer objectives.

As business owners, our time is precious.

We have to fail fast and learn faster.

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The question is: "How do we know when it's time to scale back our growth strategy."
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It's a tough question and an even tougher decision to make, but it's important to know when it's time to shift your strategy, or your focus to other areas.

And give yourself permission to do so.

So, here are some signs that it might be time to scale back - and what you could do next.

Signs You Should Consider Scaling Back

Lack of Progress or Declining Profit

If you've been pushing and grinding at it for a long time and still aren't seeing results of some sort, it might be time to re-evaluate continuing this strategy.

Your timeline is up to you, but if you feel you've given it ample time to prove out, it might be time to make a change and re-focus on what's working.

Especially if the next 3 points are true as well.

Overwhelmed and Overworked

If you are constantly working long hours, not seeing progress, and feeling overwhelmed, it might be time to scale back.

While hard work and dedication are important, burning yourself out will only hurt you and your business in the long run.

If you're struggling logistically or emotionally to meet the demands of your current strategy, it's a sign that you might need to reassess your priorities.

Lack of Passion

Growing your business takes a lot of passion and dedication, but if you find yourself losing that passion, it might be a sign you're doing too much.

If you're no longer excited about your business, it's difficult to keep pushing forward.

Take some time to reflect on why you started your business and what made you passionate about it in the first place.

If you can't find that spark anymore, scaling back and re-focusing your growth strategy might help you re-ignite that excitement.

Neglecting Other Areas of Your Life

Growing your business can be all-consuming.

I'm a recovering, growth-obsessed, workaholic myself. In my burnout journey of 2017, I realized I lost sight of my other priorities in life that are more important.

If you find yourself neglecting your relationships, health, or hobbies, it might be time to take a breath.

It's not worth sacrificing your life for your business, and finding that balance is key to long-term success.

What To Do Next

Scaling back your growth strategies doesn't mean giving up. It means reassessing your specific activities, focusing on what's working, and creating space for future possibilities.

Here are some specific next steps to take:

Evaluate Your Growth Strategies

Take a step back and objectively look at your current growth activities - events, social media, content, email, creative, video, networking, podcasts, newsletters, speaking, etc, etc.

What areas are causing the most stress and overwhelm?

Where can you cut back, delegate, or outsource?

What's bringing you results, and what's not?

Understanding the current state of your growth strategy is the first step in deciding how to scale back.

(And perhaps building/growing in silence would be better than sharing the journey? This article will help you determine the right strategy.)

Set Realistic Goals

Once you take stock of your growth activities, set realistic goals for what you want to achieve.

This could be different things for everyone.

Some might be OK with less business coming in. (gasp!)

Some might come to realize outsourcing is worth the investment - and they hadn't considered it before.

Some might reduce their scope of services or minimize workload.

Or maybe there are better ways to streamline your growth activities (batching, simplifying, documenting process).

Set growth goals that are achievable and aligned with your overall vision for your business.

Communicate

If you have employees, partners, or 3rd party providers, it might be a good idea to let them know about any changes that could impact their work or life.

This might mean reducing their hours, cutting back on certain projects, or shifting their focus to other areas.

Make sure you're transparent and clear about your growth goals and how they can help you achieve them.

Takeaway - Focus on What Matters Most

When we discontinue a growth activity, whether it's a beloved event series, a well-crafted blog, a carefully curated video series, or something else - we can feel like we're failing.

We're not.

I know, because I've done it many times.

Remember working on the wrong thing for too long is an even bigger loss.

Especially if you become overwhelmed with the wrong activities that take you away from your life priorities.

Choosing not to continue with a growth activity could make space for new and better growth activities later.

Follow your heart and trust your abilities.

By focusing on less. You might end up doing more.

I hope this article was helpful.

See you again next week!



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