When to Temper Your Fierceness in Business

On April 5th, 2018, I learned one of the most valuable lessons of my life – the importance of knowing when to stop and take a step back. This lesson came from the wise words of my mother.

On Frame: Olan Deems Mother

My mother once said, “I hope my son will realize that his health and well-being are more important and valuable than making himself so stressed, tired, and sleep-deprived just to oversee his business and his people. In the end, all the wealth in the world couldn’t help him if he were to fall seriously ill.“

Her words struck a chord deep within me. I had been aggressively expanding my business, driven by a belief that I could benefit from economies of scale and lower per-unit costs. I thought that by rapidly opening new branches and replicating my existing products, services, and marketing strategies, I could quickly maximize profits. It’s essential to evaluate whether such expansion truly reflects the success of the existing operations before embarking on opening new branches.

While this principle may hold in theory, I failed to weigh the pros and cons of such swift expansion carefully. When you have the capital, it’s easy to get swept away by the excitement of growth. However, I neglected to step back and analyze whether this expansion was truly beneficial for the long-term health of my business.

You see, not all growth is good growth. Expansion should only occur when it reflects the genuine success of the existing core business, not just the availability of funds. Otherwise, you risk overextending yourself, draining resources, and compromising your well-being.

So, how do you know when to temper your fierceness and reign in your expansion plans? Consider the following:

1. Are you neglecting your health and time with your family?
2. Is your main/first branch not yet consistently profitable?
3. Are you dipping into personal funds to finance the expansion?
4. Are your decisions being made hastily under pressure?
5. Will the expansion require taking on significant debt?

If any of these red flags are present, it may be time to slow down, consolidate your gains, and focus on strengthening the foundation of your core business before venturing into new territories.

As I reflect on my mother’s sage advice, I am filled with gratitude. Though she is no longer with us, her words continue to guide me. If she were here today, I would wrap her in a heartfelt embrace and say, “I’ve heard you, Mom. From this day forward, your guidance will be my compass. I will prioritize my health and family over endless expansion, for that is the true measure of success.“