How fast should You Grow Your Business?

Every successful small businesses may soon be faced with this question. You right along, making money, growing your business and your specific customer base. Now, you probably have to take some decisions.

Is your current position? Is your current staff skills and size are equivalent to your needs? Will it be in the not too distant future? Looking for a loan from the SBA? If you have any questions, dare to grow your business? Or it is time to just "Hurry Up and Wait" ... Meaning nothing for today?

Should I move to a larger location?

Is your current position of advantage for your company? Is it the right size? To know that you need to know where you are going and what your customers want. If you are successful, you will probably already know what your customers are looking - at least what they want now. But you know what your customers' needs in the next 3-5 years? Grow, you grow.

Suppose you are a technology, organization and technicians to provide on-demand, network settings and other offers. If you grow your clients and growing, is still your primary properties are 3-5 years out? Probably not. You must Server installation and setup for larger organizations or possibly outsourcing technical support staff in other organizations across the country.

There are many possibilities, all of which affect your choice of location and the size of your office. The key is not in your short-sighted decisions, but also a good balance between what you are and what you think you can afford in the future can afford.

Should I rent?

Hopefully, this concept is a little easier to meet. Mapping out where you go with your business will give you an idea of the kind of resources you need to add in order to be successful and to serve the growing customer service.

In the above example, the acquisition of experienced engineers is obvious. However, you may want to check technician will be in order if you travel plan with 3-5 years of work or outsourcing and technical professional services includes managed services for companies in other parts of the country.

Qualified personnel costs money ... which brings us to our next question ...

I need out of money?

They grow, but the next stage, an injection of cash. I worked in an organization as a consultant and we did great. I saved three failed implementations for them, and they quickly became successful and praised my efforts. Then they abruptly ended our collaboration! The motivation for this decision was that made the difference on paper, such as whether a profit or loss, and they are working with a venture capitalist to a substantial amount of cash for growing the company to acquire. They were looking to be profitable if the VC market in the auditors.

You think through these things ... must VC, SBA loans, another type of loan, etc. Ultimately, this organization decided to go the VC route, because they are required to specify too much control over the company and its direction. It was a wise move for them. But it is a smart move for you? It's an issue that only you can answer.

Maintaining the status quo?

Another option is always there doing nothing. And that's ok, too. The growth can be done slowly and is still a big deal. Hundreds ... Thousands of companies have appeared to be successful and not fast because she tries to grow rapidly.

I can attest that almost for the construction of a friend / demolition companies happened. He quickly took on new work and need to clone themselves. Since this is not possible, he began hiring additional staff as friends. I was only "recommended" and that he worked well and we are still friends. The result was that he that he was growing too fast and some of these friends were realized is cut too far. You may think that it is very difficult to make friends when you release the mouse button the employee's friends - especially if they work left for other jobs come along. It was hard on friendship, but he is still in business, at least.

Abstract

In the end, only you - the small entrepreneurs - those decisions for your business. The best measure to a plan. The old adage "no plan is planning to fail 'is so terribly true. Map a plan and then follow against the demands of your business. The plan may change, but the management of these closely to ensure that you are aware and that you are never too far to drive, of course. Grow at the right pace for your business and your customers.