Is Bigger Always Better?

In this video, Matt is reviewing a video that shames business owners who don’t want to grow their businesses. While Matt does think growing a business is a great option, he also doesn’t think it’s good to shame people who want to stay small. Watch to see Matt’s reaction.

There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!

Video Transcript: 

Business Advice Video:

97% of the businesses in the world are small businesses. Wow. And a lot of the people who run these businesses would consider themselves to be entrepreneurs. I consider them to be cowards. Hundred percent.

Matt’s Review: 

I do agree that having a small business and turning into a bigger business is generally the way to go for a lot of reasons. Not least of which is the bigger the business the less stress, the less time, the less effort you personally have to put in as the owner. even as the benefits get bigger and better for you. But I would hardly say you’re a coward. I think in most cases people don’t understand how to grow. They grow to a certain point but they don’t understand how to set the business up so that they need less and less of their own time to operate it successfully. They feel like “Well, there’s certain things I as the owner and the only one that can do.” And that’s generally just not true. Back when I bought my catering business years ago. I had some restaurant experience I’d never done catering though. But the owner of the business at the time said “Boy, I don’t know if you’re gonna be able to take this over. I mean this is just a lot. There’s so much for me to teach you. I don’t even know you know if I’m gonna be able to effectively teach you how to run this business.” I said “Well, I mean it’s a mostly a barbecue kind of restaurant. Aren’t we just talking about heating up meat? I mean we’re not talking about brain surgery. You’re not a world-renowned brain surgeon, and you’re not sure if you’re gonna be able to teach me all the techniques of brain surgery that I might need to know. We’re talking about recipes that you can write down and can be replicated. And a process for heating up the food. And you know creating the menu items that can be followed. So I’m fairly confident I’ll be able to learn it.” And I think the vast majority of businesses fall into that same category. Yes, at first it might seem like “Well, everything I do is different. And each job is a one off. and there’s no way to really outline.” But there is. I mean really there is. You learned it, right? If you learned it you can probably figure out how to put it into a process and teach someone else to do it. And yes, at first they probably won’t be as good as you are. They won’t know as many things, but they’ll be able to get it. And in some of them may actually be able to do it better than you are. More efficiently, faster, smarter, whatever it is. I think the limiting belief is not that they’re cowards and they’re afraid to start a bigger business or grow their business bigger. The limiting factor is knowing how to step back from the parts they’re doing and delegate it, hand it off to other people. And get help and support in growing the business. And I think that’s the part that a lot of people get stuck on. And they just decide “Ah it’s just easier for me to do it myself. I’ll have a handful of helpers and we’ll just stay at the size where I can manage it. Then going beyond what I can personally keep my hands you know on and my arms around this business entirely.” And that’s what keeps businesses at a point where it’s hard for the owner to ever take a vacation. Or to ever really build something that could be sold for a large amount. Or ever feel confident that you know if something happened to them things would continue to work well. It doesn’t have to be like that. I guarantee that virtually any business you can name can be grown beyond what one owner can do. But you have to wanna do that. And you have to know how to do it. You have to start trying it. I think that’s what’s holding people back not cowardice.