Growth is Subjective
Economists have a theory of value stating 'all value is subjective'. Meaning the value is what a customer thinks a product or service is worth to them.
We have just been through the largest leap in humanity in terms of technology. But are we starving ourselves of the joy that comes with the financial wins?
We want to have profits, know our costs but only some want to have a relationship with customers that fuel our quality of life.
So when does growth become unhealthy?
Forms of growths you might be familiar with in life: tumours, melanomas and warts.
Forms of unhealthy growth in your business: HiPPO (highest paid person's opinion), dirty data, messy business systems, toxic culture.
My friend Leo runs a successful beauty parlour with his wife. It's a simple service business, but how he runs it is the reason it's successful. He makes sure his staff greet customers like they are family.
He's had 12% growth year on year for the past 15 years.
How long does the average S&P500 business run for? Most don't reach 15 years.
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