Developing Your Strategy: Know When You Hit Your Ceiling

Loran Evans, owner of Rightline Gear in Asheville, says when you're developing a strategy for your small business, you need to know when you hit your ceiling and find help for those things you're not very knowledgeable in.

So I think one thing that's interesting when you meet other entrepreneurs or people who are in business, many times, they have a ceiling on where they can go to. So they'll start a business, run it for a length of time, and then kind of hit that ceiling. They'll sell the business, start something else, and do the same thing all over again. Sort of a serial entrepreneur, if you will. And there's nothing wrong with that. It's very admirable and a great thing. I didn't really wanna follow that path, because I know how hard it is to bring something from nothing to something. And do I ever wanna do that again? No, I don't. So when I hit my ceilings along the way, I was conscious of that. I know, oh my gosh, I've reached the end of my knowledge. Now what? And thankfully I was able to find outlets to gain the knowledge that I didn't have at that point in time. I think most notably was, I could say, understanding accounting, as an example. I was very good with math, and numbers, and profit margin, and things of that nature, but how does this go into a PNL, and does that really make sense? And that type of thing. I resisted it for a long time. And then, all of a sudden, I'm a CEO of a company, trying to run it without the full accounting knowledge. That's crazy. So I had to figure out a way how to get that knowledge, and you can do it. So I think that's just been what's driven me, is not wanting to stop at the next ceiling that I'm at, but to break through it and go on to the next level of being a CEO, or what have you.

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