What Are the Challenges of Balancing Growth and Innovation?
Balancing growth and innovation can be challenging for entrepreneurs. Here are a few common obstacles:
Resource Allocation: Deciding how to allocate limited resources between expanding the business and investing in innovation. Risk Management: Innovation often involves taking risks, which can be daunting for businesses focused on steady growth. Market Saturation: Rapid growth can lead to market saturation, making it harder to innovate and attract new customers. Scaling Issues: Ensuring that innovative ideas can be scaled up effectively as the business grows.