Starting a successful business requires a pedal-to-the metal mindset in terms of focus, passion, and information gathering to be more effective and efficient. It also helps to have a product or service that people want!
That mentality can be difficult to change when faced with the issue of expansion and growth versus quality control and manageability. Ironically, this also the intersection between revenue and quality of life issues. Many people chose the path of entrepreneurship for the freedom to work when and how they want, which enhances ones quality of life. You can buy a new Porsche but you can’t buy back the time you lost from your family working to buy it.
When confronting this intersection, run the numbers and see if the return on investment is worthwhile. This is particularly true when the business is manufacturing food products. For example, you are asked to sell your products in 10 additional Costco stores — that may require purchase equipment; greater storage facilities; risk of loss of more perishables; more packaging and labeling; more employees, employee shifts, oversight, payroll, training, and human resource issues, plus additional distribution systems, quality control and billing/collections oversight.
After running the numbers, what is the amount of the added net profit, and what impact will it have on the quality of your product, and the value of your time.