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Survival Strategy and Growth Strategy for An Entrepreneur
It’s been almost half a year since the state of emergency was declared.
For the past six months, we have worked to expand sales channels overseas and expand our product lineup, but the influence of COVID-19 has begun to appear strongly in our company and our partner businesses. In terms of the sales baseline, it has dropped by about 30-40% from June this year to last month. Meanwhile, it was a week of thinking deeply about “survival” and “growth”, which are very important for entrepreneurs, so I would like to touch upon this topic this time.
When an entrepreneur starts a business, the first thing to think about is a “survival strategy.” One month, three months, six months, twelve months after establishing a company … It is a strategy to live on profit from the company established for oneself, employees, their families, etc. Once this strategy is implemented and the results are clear, the next step is the “growth strategy”. It is a strategy to realize the mission and vision from a medium- to long-term perspective without worrying about life.
About half a year after its founding, SOPHOLA has shifted from a survival strategy to a growth strategy and has grown steadily so far. However, unlike large companies, it has not yet become a solid business for events that have a negative business impact like this recent COVID-19, so it takes a short time to stand between “survival” and “growth”. At this time, I think about the timing to shift back to the “survival strategy”, but my current view is that we should stick to the growth strategy until I could see the level at which our lives would be jeopardized six months in the future. Until then, I think it’s important to pursue the growth strategy and quickly shape a business that won’t get shaken even when the next COVID-19 level event occurs.
As the current situation continues for a long time and the negative wind is blowing, I feel that there is one more year to push forward with the growth strategy, so I would like to take the necessary steps quickly and shape the strategy. Thank you for your continued support.
PS: This is a picture of me when I was about 2 years old, but my son, who is over 10 months old, is becoming more and more like me. lol