This Is The One Simple Change You Need To Make To Grow Your Business Fast

This Is The One Simple Change You Need To Make To Grow Your Business Fast


February 22, 2023 | Eul Basa

This Is The One Simple Change You Need To Make To Grow Your Business Fast


When you think of the word "entrepreneur," you probably envision a single person, perhaps in a garage or basement, getting everything done on their own. Sure, it may start off that way, but at some point, other people will need to be brought into the mix; especially once the business starts to grow. New entrepreneurs often tend to think they can do it all by themselves, but the reality is that no business can flourish without effective collaboration.

Take it from Natasha Bowes, the CEO of Biotiful, the wickedly successful dairy company. In 2012, Bowes left her sixteen-year career in financial services behind to start her business and she hasn't looked back since. Her company sells a product called Kefir, a fermented milk beverage that she grew up drinking as a child in Russia. In the early stages of her enterprise, she targeted the UK and Western Europe markets in hopes that they would embrace the drink in the same way that she did.

Today, Biotiful sells as much as 300,000 bottles of Kefir a week, with health food enthusiasts representing her biggest customers. Yet, despite how successful her business is now, Bowes still has one regret—not hiring staff earlier on. In a recent interview with BBC, she said that her company would have probably grown even faster if she didn't spend the first two and a half years trying to run the company on her own.

"If I had taken on staff earlier, I could have got to the £1 million sales mark in half the time," she said.

Kefir is unique in that it contains over 40 strains of probiotic bacteria, so initially, Natasha had to import all of the cultures from Russia, then learn how to make the actual drink. It took her nine months to get the process down, and then another four months to trial the production and develop new flavor variations.

Eventually, high-end organic food shops such as Fortnum and Masons, Harrods, and Selfridges began to sell her product, and she spent much of her time in the stores giving out samples and getting customer feedback. The only problem with that was, she was also juggling the other aspects of her business at the same time, including the management of production, sales, marketing, operations, and finance.

She did not feel comfortable taking on staff until her company made a steady profit. But looking back at her journey now, she realizes that her reluctance to do so cost her a lot of valuable time which she could have used to really get her business off the ground.

"My biggest regret is hesitating to hire people. I felt I could only justify taking on staff when I sure the business was profitable," Bowes said. "But then again, not taking people on sooner definitely holds up the growth of our business."

So then, when is a good time to start hiring employees? Bowes thinks the earlier the better, even if the company isn't necessarily making a profit yet.

"I believe one should seriously consider starting to take on staff into the business when you know, as an entrepreneur, that you have a viable proposition and when you have established your early sales," Bowes says.

"The business doesn't have to be making a profit yet. You just have to be sure that it is on course to [do so]. Because you cannot really deliver on the big mission, the ambition of building the brand of the business, without support."


READ MORE

Aithumb

AI Is Being Used Way More Than You Think

Everyone's talking about AI—but there are a million ways AI is being used right now that people don't even realize. And this is only the beginning...
April 3, 2024 Jamie Hayes
Portrait Of Mature Couple Carrying Boxes On Moving Day In Front Of Dream Home

The Best Way To Sell Your Stuff When Downsizing

Getting rid of an entire home worth of stuff can seem like an insurmountable task. Here's how to take it on AND get your money's worth.
March 28, 2024 Samantha Henman
30Thumb

30 People Who Only Got Successful After 30

The best time to start was yesterday. The second best time is right now. These mega-successful people eventually reached their tipping point—it just took a little longer than usual.
March 27, 2024 Jamie Hayes
Happy multicultural office young employees with old mentor leader coach laughing working together gather in boardroom, diverse corporate business team having fun engaged in teamwork at group meeting

Changing Your Career Late In Life—It’s Never Too Late

Whether they’ve been laid off or are simply unhappy in their jobs, they might wonder if they really want to stay on the path they’ve laid out for themselves—or if it’s possible to make a change after 30, 40, or 50.
April 25, 2024 Sammy Tran
Mcdthumb

McDonald's Has Used 45 Slogans, How Many Can You Remember?

I bet you can name a McDonald's slogan off the top of your head. Maybe you can get 3-4. If you can get all 45, I'll be VERY impressed.
April 2, 2024 Jamie Hayes

25 Cars That Are Simply Good Investments

Year after year, certain models appear in the lives of people who don't overspend to stay on the road. They're keepers—driven by those who choose long-term value over short-term flash.
June 2, 2025 Jane O'Shea


Disclaimer

The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.





Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team