How business owners can escape short-termism to allow room for growth

Running a small or medium-sized business can often feel like a never-ending race. There's always another invoice to chase, another deadline to hit and another crisis to manage. In that environment, it's easy to slip into short-term thinking, focusing solely on immediate needs while pushing longer-term goals further down the list. When you're stuck that kind of in survival mode, growth becomes almost impossible.

We work with a lot of SME owners and short-termism is something we often see when they first come to GSM as clients. It's not about a lack of ambition, it's about having the headspace, time and clarity. Without clear, forward-looking financial information, most decisions will be reactive by default. That's why the first step we take on their behalf, to escape short-termism, is to get a better handle on the numbers. Not just your P&L at the end of the year, but regular forecasts and setting KPIs that will help you spot trends early. When you understand what the numbers are really telling you, you can start making informed decisions.

Too many businesses only speak to their accountant once a year, when it's time to file a tax return. That might tick the compliance box, but it doesn't move the business forward. If you want to think and operate more strategically, your accountant needs to be part of the conversation throughout the year. Tax planning, cash flow management and proactive, yet prudent advice are the building blocks of a longer-term view. It's not about adding complexity, it's about bringing focus.

Of course, long-term thinking requires a plan. Yet, it doesn't need to be a 50-page strategy document. For most SMEs it's enough to set out a few clear financial and operational goals for the next 12 months and break those down into achievable steps. A simple plan can be transformative, especially when it's revisited regularly and adjusted as the business evolves. The key is that it gives you something to aim for, rather than reacting to whatever comes your way.

Another factor that keeps SME business owners stuck in the short term is a lack of time. When you're the one doing everything, it's hard to step back and see the bigger picture. That's why outsourcing is essential. Whether it's a full accountancy service, your bookkeeping, or implementing financial management systems, freeing up even a few hours each week can make a big difference. Those are the hours you can spend on strategy, sales, or things that actually move the needle.

Financing, too, can play a role in shifting your perspective. Businesses that plan ahead have the luxury of exploring funding options on their own terms, whether that's accessing a loan to invest in growth or using finance to scale more efficiently. When you think short-term, borrowing often happens in a panic. But when you think long-term, it becomes part of a smarter, considered strategy.

Ultimately, escaping short-termism is about thinking like a bigger business, even if you're a small team. It means planning ahead, understanding your finances, automating routine tasks and creating room to make considered decisions. It's not about losing agility or spontaneity, it's about giving your business a direction.

At GSM, we help ambitious business owners build something sustainable. If you're ready to move from surviving to scaling, we can put a long-term plan in place that works for your business, your goals and your future. Contact us today for a no-obligation meeting on 020 7935 3793