There seems to be a lot of information online about how to build a fast growth business and how great it is to have that, so I thought I would put forward an alternative viewpoint. The recruitment sector in particular has lots of companies growing very quickly in the first few years, adding large numbers of staff. I have decided to take the slow and steady approach instead, and have my first employee starting next week after 16 months in operation.
Growing slowly as a business can give you advantages as a business owner. It is less stressful, you are taking on less risks, waiting until the time is right to hire and new person, making sure the business can afford the expansion. You can enjoy things outside of work by taking more time away from the office, instead of pushing yourself to hit growth targets that you have set yourself.
Hiring staff is a difficult process and by taking things slowly you can put the time and effort into recruiting someone to try and give them the maximum chances of success. Hopefully this will reduce staff churn which can happen when hiring large numbers of people. Finally I feel that taking a more measured approach translates into your sales tactics. I try not to be pushy or aggressive and have won new business through recommendations and referrals rather than kicking down doors.
Interested to hear your thoughts.