Read more about Business growth
Overtime, there have been various fallacies surrounding business growth ranging from underestimating the capacity to invest in new technologies to overestimating what can be accomplished, and most business owners have fallen victim to these erroneous beliefs. A fallacy is an incorrect thought, misconception or argument, which professes to be decisive, while in reality it is not. Fallacies undermine an argument’s logical validity or more generally an argument’s logical soundness by restraining you from making clear and accurate decisions. Some of the fallacies surrounding business growth include:
- Business has to grow before Investing in Technology
- Business Growth involves only Sales and Profit
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Business growth involves other areas such as:
- Increasing the geographical reach of your business
- Introducing more products/services
- Opening more stores
- Creating more channels to market
- Increasing traffic and sales through your digital channels
- Increasing followers
- Improving stock management
- Streamlining your supply chain
- Reducing overhead costs.
- Increased creativity and innovation
- Vertical integration
- Improved lifestyles for the business’s owners
- Global expansion
- One way is the Right way
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