Invest Manage & Grow

Are You Ready to Expand?

Here are some questions to consider before growing your business

1. Is your business stable?  If you plan to grow because you can’t get enough business locally, this is not necessarily a good reason to expand.  Your business should be stable so that it can withstand the challenges of expansion before you decide to grow your business.
   
    
2. Are your competitors expanding? If so, what do they know that maybe you don’t know? If not, do you have inside knowledge that perhaps they don’t have?
   
    
3. What are the impacts on your day-to-day operations?  Can your current resources support the expansion? If not can you afford new resources?
   
    
4. Can you finance the expansion internally? Can your cash flow support the expansion?
   
    
5. Will customers tolerate your growing pains?
   
    
6. Are you willing to play a less hands-on role in an expanded operation?
   
    
7. Does your family understand your need to commit more time to the business?