Her Company Was Growing, So Why Was It Failing? Here's the difficult truth about growing a business: Not all growth is equal.
This is an episode of our podcast Problem Solvers. Each week, an entrepreneur reveals how they overcame an unexpected problem in their business -- and were happier and more successful as a result. The show is hosted by Entrepreneur's editor in chief, Jason Feifer. Listen below, or subscribe on iTunes, Google Play, Stitcher, or wherever you get your podcasts.
Just Between Friends is a nationwide franchise that runs consignment events. About a decade ago, it experienced a crazy jolt: It sold more franchise units than it ever had... and that fast growth nearly bankrupted the company. Why? Because here's the difficult truth about growing a business: Not all growth is equal. Sometimes, growth in one part of your business can harm another part of your business. So to fix the problem, Just Between Friends had to hit pause and consider some very important questions: What's the right way to grow? And what does it really take to get there?
Listen to this week's podcast to hear how the team changed its growth strategy.