You read it right; it's not the title of the 1982 hit song by the Clash, which was ‘Should I Stay or Should I Go’"

The question of growth is a subject we often cover with our Pabasso business leader clients.

In answer to the question "Should I stay or should I grow now?" the answer is always: you should try and grow.

No business can stand still.

Whatever you think, you will always lose clients and customers, so you must have a growth strategy, if for nothing else, to replace the customers and clients you will inevitably lose.

The real question is what level of growth should you try to achieve?

The answer to that question depends on many factors, not least and not in any particular order:

• Your appetite and ambition for organic and/or acquisitive growth.
• Options to open regional offices, depots/outlets.
• The dynamics in your sector.
• Funding.
• Capacity for growth.
• Goals - short, medium and long term.

There are many benefits of growing your business, and growing businesses are attractive to many people for many reasons; again, not a definitive list and not in any particular order:

• Economies of scale.
• Employee Recruitment - people like to join growing rather than static businesses.
• Employee Retention - a growing business creates career opportunities.
• Exit - if you are planning an exit, you need to be growing to maximise value.
• Option Strategy - if you are growing, you always have the option to sell at good value at some stage if you wish, or simply retain ownership of your viable business.
• Attracting/retaining key suppliers - your key suppliers always want more business from you, but your competitors are always courting them and promising them more business than you currently give them.
• Partnership opportunities - who knows when an exciting partnership opportunity might emerge? The more progressive you are, the more attractive you are to potential partners.
• Brand awareness - growing your business should equate to growing your brand, which should in turn lead to attracting more clients and customers.

There is no one-size-fits-all for growing a business, which is where shared experience, expertise and knowledge are so valuable.

In our Pabasso boards, we have a variety of such experience, expertise and knowledge, and we cover many more challenges than growing a business, all of which help business leaders become better, get better lives, and better business - we call it the Potency of Peer Support.

If this resonates with you and you would like to find out more about the value MDs and CEOs of Yorkshire-based SMEs get from being part of Pabasso, then please drop me a note at rad@pabasso.com, and we can arrange a confidential chat to see if we can help you achieve your goals.

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