Business Growth Isn’t Always Worth It
From an early age, we’re inundated with the message that business growth is desirable, nay, essential for a successful life.
Our culture is rife with sayings like “Be not afraid of growing slowly; be afraid only of standing still,” (Chinese proverb) or “If you’re not growing, you’re dying” (Pierce Marrs).
When Covid 19 came along and leaders shut down economies and we found ourselves forced to slow down, it let the air out of some of our cherished beliefs about growth. Many of our businesses stopped growing. Some shrank. A number failed entirely. But we all survived.
Economic growth can be a positive force. It raises people out of poverty, increases our overall standard of living, and inspires innovation and development. But is growth for growth’s sake worth it? Many of us, given the time to consider, decided it is not.
My journey towards this mindset started when I first heard this story about a Mexican fisherman:
An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tunas. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, “only a little while.”
The American then asked why didn’t he stay out longer and catch more fish? The Mexican said he had enough to support his family’s immediate needs. The American then asked, “but what do you do with the rest of your time?”
The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, stroll into the village each evening where I sip wine, and play guitar with my amigos.”
The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise.”
The Mexican fisherman asked, “But, how long would that take?”
“About 15, maybe 20 years tops,” replied the American.
“But what then?” Asked the Mexican.
The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!”
“Millions! Then what?”
“Then you would retire and be able to afford to do what you want!”
“You could move to a small coastal fishing village where you would sleep late, fish a little, play with your grandkids, take siestas with your second wife, ride your scooter to the village in the evenings where you’ll sip wine and play your guitar with your surviving amigos.”
Growth for growths sake isn’t always worth it. It’s no sin to just enjoy your life and your business.
