6 Signs You’re Ready to Expand Your Business

I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.

As a successful entrepreneur, you know that just wanting to own a business is a far cry from being able to run one effectively. In the words of Uncle Ben, “With great power comes great responsibility.” Taking your business to the next stage in its development is not much different—or much easier—than launching it. Use the following checklist to determine if you’re ready to take that step.

6 Signs You’re Ready to Expand Your Business

A combo of confidence and care mark the entrepreneur truly prepared to expand their small business. If you’re not sure you’re ready yet, use this list to determine which weaknesses to address first. If you check out against all six items, use it to build the confidence to go forth!

1. You have a strong team

Without a strong management team and passionate, reliable employees, a great concept and high sales don’t necessarily spell success. Expansion puts a lot of stress on your business and will require that you give up more and more direct control. Are you prepared to trust your team with more decisions, and are they ready for what you’re entrusting them with? Will they be by your side in three or five years? Consider who’s moving forward with you and who you can’t move forward without.

2. Your customers love you

Your customers can tell you a lot about whether you’re ready to expand your small business. One way is by literally telling you to expand! If multiple customers are asking you to open a new location or expand your services, you can be sure you have demand and a loyal customer base to rely on. Another way they can indicate you’re ready for expansion is by what they do. Do customers seek you out on their own? Do they come back time and again? These are all strong indications that your business might be ready for growth.

Do you need more detail on this subject? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0429) 011-071.

To your success,

Ian