Growing a business from idea to long-term success is no walk in the park. All entrepreneurs want to know their enterprise is doing well, but some may feel that, if you grow too quickly, you risk depleting your resources or not being able to keep up with customer demand. Yet expand too slowly, and a business could stagnate and lose out on lucrative opportunities.

There is no universal formula for determining optimal growth, which always creates uncertainty. Running a business is like an adventure. It can be scary sometimes. Furthermore, the biggest source of uncertainty lies in whether or not your business will be successful, causing many questions that may cloud your judgment.

Such questions may include: Am I on the right path? Which area of my business should I adjust to improve performance? What is working and what is not? Was this a mistake? Am I on the right path? Managing a business is certainly not a walk in the park, and it is unlikely you will see massive profits early in your start-up, but you should see signs that point to profitability in the future.

If there is a strong growth showing from the start, that is a trend which will help your business a great deal. The following points can help validate those assumptions, and achieve business objectives and revenue projections, which are crucial to a successful business model.

* Does It Solve a Problem?: It is encouraging if your small business solves a problem for someone. It should be easier or cheaper for the customer to seek your solution rather than attempting to solve it on their own.

* Will enough people want it?: It is great if your business can solve someone’s problem, but are there enough people with the same problem? You need to have a large enough market or audience so that your small business can sustain itself.

* Will customers pay what you are asking?: The value of your solution must be far greater than the cost someone incurs to purchase it from you. The sooner you have strong marketing in place, the better, since marketing effectively is a way to sustain your business beyond doubts.

Great product

Most importantly, ensure you have a great product in place - one which customers are going to respond well to. It will serve as an indication that your business will have much better sales and reputation, both of which are great attributes for a successful operation.

Knowing if your small business will be successful is a big deal. It s like putting together a puzzle, needing all the pieces to make the picture come together. You will find your successful formula only if you are attentive, diligent and give your business the time and attention it merits. Knowing when to check, to analyse and adjust can propel your small venture forward and improve its chances of turning into a successful business. Until we meet again, live life for memories as opposed to regrets. Enjoy life and stay on top of your game.

NB: Columnist welcomes feedback at deedee21bastian@gmail.com

ABOUT COLUMNIST: Deidre M. Bastian is a trained graphic designer/brand marketing analyst, international award-winning author and certified life coach.