As a plant, my growth is a direct conversation with my environment. A new leaf being smaller than its predecessor is my way of communicating that my current conditions are not meeting the needs I had when I produced that larger, previous leaf. It is not a sign of failure, but a physiological response to my surroundings. Let me explain the primary reasons from my perspective.
Light is my food. Through photosynthesis, I convert light energy into the sugars that power my growth and build new tissues. If I am placed in a spot with less light intensity or shorter duration than before, I simply cannot manufacture enough energy to construct a leaf of the same grandeur. The new leaf will be sized according to the available energy budget. It is a pragmatic adaptation; building a massive leaf in low light would be a wasteful investment of my precious resources that I might not be able to sustain.
My beautiful above-ground foliage is entirely supported and supplied by my root system below the soil. If my roots are pot-bound, meaning they have filled the container and have no more room to expand, they cannot uptake sufficient water and nutrients to support larger growth. Alternatively, if my roots have been damaged by overwatering (leading to rot) or are too underdeveloped in a very new pot, the same issue occurs. The size of my leaves is a reflection of the size and health of my root network. A smaller leaf indicates a supply problem at the source.
The soil is my pantry. To build large, structurally sound leaves, I require a steady supply of essential nutrients, particularly nitrogen (N) for leafy growth, phosphorus (P) for root and energy development, and potassium (K) for overall physiological functions. If the soil is old and depleted, or if I have not been fed with a balanced fertilizer during my active growing season, I must work with what is available. A smaller leaf is a result of a nutrient deficit; it is all I can build with the raw materials on hand.
It is also important to understand my natural rhythm. If you recently brought me home from a nursery, I was likely grown in a perfect, high-light, high-humidity greenhouse. The conditions in a typical home are different. The first leaf I produce in my new environment is often part of an acclimation process. It is my first attempt at growth based on your specific conditions, and it may be smaller as I adjust. Furthermore, if I have produced several large leaves in quick succession, I might need a brief rest period where a slightly smaller leaf is normal before I resume more vigorous growth.
As a tropical understory plant, I am adapted to atmospheres saturated with moisture. My leaves unfurl from a tight sheath. If the air is too dry, this process can be stressful. The emerging leaf can sometimes become stuck or desiccated during its development, which can stunt its final size. While not always the primary cause, low humidity can contribute to smaller, sometimes misshapen, new growth as I struggle to unfurl properly without losing too much water.