Get Out of Your Comfort Zone for Biz Growth

You have probably heard the term “comfort zone.” It’s that place where you feel comfortable, where you have no risk.  But if you have no risk, you also get no reward; they go together. To grow, you have to get out of your comfort zone and accept risk.

The concept of “comfort zone” has been around in psychology for several years.  It has been defined as:

… a behavioural state within which a person operates in an anxiety-neutral condition, using a limited set of behaviours to deliver a steady level of performance, usually without a sense of risk.  (my emphasis) (Alasdair A.K. White; “From Comfort Zone to Performance Management”)

If you are thinking about expanding into new products or services, adding a new location, or hiring more employees, you are probably stuck in a quandary:

• You can stay where you are and be safe
• You can venture out and take the risk.

Many small business owners would say now is the time to play it safe.  But maybe it’s time to venture out and grow so you can be ready for the inevitable upturn in the economy.  Some things to consider if you are thinking about your next venture:

• Can you do this without over-borrowing?
• What is the worst-case scenario if this new idea doesn’t work? How much will you lose?
• What are the probabilities of success and failure?  It’s difficult to know this, but you can make a reasonable estimate.
• What do your advisers, including your board of directors, say? Asking a lot of people for their advice is a great way to see if you are ready to venture out.
• What does your business plan for this venture look like?  If you don’t have one, make one.  Using a business plan for a new venture is a great way to answer all the questions and look at the financials (worst-case, best-case, and somewhere in between.)

Once you have put together a business plan and asked a lot of people what they think, and you have gone to the bank with this idea, you’re ready to go. Right?  If you still aren’t sure, remember  this quote:

Behold the turtle. He makes progress only when he sticks his neck out. ~ James Bryant Conant (1893 – 1978)

Image: corsiphoto@flickr