3 Key Reasons to Run a Minimalist Business

Many companies crash and burn. The reasons are many, but one is trying to grow too quickly.

In a study of over 3200 tech startups done by the Genome Startup Project, they found that 74% of these companies tanked because they tried to scale and grow too fast.

I can relate to this.

When first launching my agency, I had the mindset of "growth" and "scale". So I hired freelancers and delegated as much work as possible to them. Because these freelancers were unproven, I ended up losing several clients.

I still had to pay these Freelancers, so the result was increased expenses with loss of clients due to lack of performance and client satisfaction.

It would've been better if I had served these clients myself with less outsourcing. I would still have most of the clients instead of having to search for new ones to replace them.

I now choose to run a Minimalist Business.

What are some of the advantages of a Minimalist Business?

Less Complexity

The more complexity, the more likely the machine is to break.

Setting limits allows you to focus on less and give better attention and energy to the few clients or projects you have.

When you put limits, you can charge higher prices and give a better experience. The more moving pieces, the more difficult it is to manage and keep track of them.

Look for the MED (Minimum Effective Dose) just like with supplements. How can you achieve your optimal life with less?

A simpler business model can also bring less anxiety. 

The pressure to grow and get big can have its benefits.  Sometimes we need a little kick in the rear and an ambitious goal to strive for.  But sometimes we place unnecessary pressure on ourselves to shoot for a target that will require too much time, energy, and sacrifice. 

Focus on Better Instead of Bigger

By improving your product or service you'll have more satisfied and loyal clients. Knowing why and how to set an Upper Limit in your business is smart.

This can help limit burnout... and can also keep your business model from exceeding its intended design.

The money will flow as a result of focusing on adding value and helping others.

Focus on Your Ideal Lifestyle Instead of More Money

We often don't earn much more money by focusing on "making more money." More money while sacrificing family, health, leisure, and time off is not a wise tradeoff.

Setting too big of goals often leads to overwhelm, anxiety, doubt, etc. without reaching the goal.

Unhealthy reasons like envy or greed often fuel the desire for "More".

If you have enough to pay your bills, save and fund the lifestyle you desire, why strive for more if it means it will detract from other important areas of your life?

By choosing to have a Minimalist Business you're more likely to have a more fulfilling life and get to enjoy the freedom to invest time and energy into other vital areas like family, serving, and downtime.