From my experience there seems to be a disproportionate focus on business growth. This can be growth in the number of staff, number of customers, subscribers, international expansion, etc. Growth quickly becomes the key measure of success overshadow...
paulwatts.au
I think it depends on the field.
Some things only become profitable at scale. For others it's hard to stay alive in 8th place (i.e. everyone joins the messaging apps or social networks that their friends are on).
But absent such effects, I agree that stability instead of growth is a fine goal.
If what I need for a good life is A, why should I try to grow after, let's say, reaching 2 x A - twice of what you need. Then you both have your income, maybe for some staff income but you also have for investing in the company and your pension.
What more people should strive to get is improved quality life and more money isn't equal to better life, kinda the opposite. I'm sure you could make a graph that has money as X and life quality as Y, it would go up to a certain amount of money, but then starts to go down again, as more money didn't really add anything to the quality of your life.
Let's say you have a car, what real value does car number 2 add? Nothing to your core quality. You have good spacious, not huge, home, but want more space, what does this add? Again, nothing to your core quality.
It's called ordinal utility:

"I want it all and I want it now" is the motto of many inexperienced business owners and managers.
Also, a lot of people live in the illusion that their business can and should grow exponentially all the time. I'd pick slow and sustainable over fast and chaotic on any given day.
Great post Paul 🙌 I definitely agree with everything you said.
Gavriel Shaw
Partner
Some might see the measurability of Improvement as being the Growth metric. Myopic for sure, but they'll believe that 'growth' indicates 'improvement'.