Growth always seems welcome, but what if you are interested in more than just launching a business right away and selling at every chance you get? How can you make it a long-term investment, not just an overnight success? This is where sustainable growth comes in, according to business blogger Steve Sorensen, who looks at the growth of major companies’ net worth.
Sustainable growth is an ongoing challenge for many enterprises. Traditionally, it means achieving growth and maintaining it while minimizing issues. In the context of today’s climate-challenged world, it can also mean having continued economic growth in the long term while minimizing the impact of the business on the environment and its finite resources.
There’s also sustainable growth rate, or how much your business can grow before it has to secure debt financing or get further into debt. It’s the fastest growth rate the company can sustain at its current level of financial leverage.
In order to attain long-term viability and success—and not have to make an exit plan—you can shoot for sustainable growth in a number of ways, according to Networth blogger Steve Sorensen. It’s important to get financially fit, adopt a growth mindset where you locate opportunities for it and develop a strategy, and go for recurring revenue streams.
Just as crucial is leaving a unique footprint, where you have a unique product, service, or anything special to set your business apart from others.
A business graduate from the Iowa State University, Steve Sorensen has always been fascinated by the huge and often meteoric growth in net worth of some of the world’s most successfully companies. Learn more about business and investing on this page.