News
When you first start a business, you can be so focused on daily operations that you don't take the time to take a step back and (understand/make real/achieve) it actually might be time to expand. It's exciting when you recognize that your business - something that had been an idea in your head, a dream - has caught on with customers. As thrilling as this success can be, growing your business can be just as scary as starting it. You want to make sure that you're doing things the right way, at the right time, to avoid mistakes that could endanger your company. Here are five indicators that it could be time to grow your business:
1. You can't keep up with demand.
The decision to expand should never be caused/brought about/reminded by a desire to stick to a random growth plan when you don't have any real reason for doing so. Before you even think about/believe expanding, ask yourself if there's a need. Do you have more orders than your staff and facilities can handle? Can you change something (to help someone)/take care of someone the number of customers that you're attracting? If your numbers warrant growth, that's the first step.
2. You have a solid team in place.
A strong group of workers is extremely important when you're (thinking about/when one thinks about) expanding. If you're planning to open new locations, you're going to be spending a good deal of time getting things up and running in those areas, so you need to have people you trust to hold down the fort. If you don't have confidence in your team, make some changes and key hires before moving forward. Also, ask yourself if you need to hire more workers. Before you expand, you'll want an (able to do something well/very good), well-trained team ready to go.
3. You have enough cash.
(act of something getting bigger, wider, etc.) takes money. So, even if you have a ton of orders, you're not in a position to grow unless you're actually getting paid. Only when you have strong, positive cash flow should you think about/believe taking the next step.
4. You're running out of space.
Whether you're working in a restaurant, a manufacturing facility or a commercial kitchen, you obviously need enough room to operate comfortably. And if the number of customers visiting your business has spiked or you've increased staff but are still in the same space, everyone is going to get frustrated. Don't be rushed about leasing a larger space or opening a new location. First, make sure that your growth is consistent and not just a seasonal spike. Also, don't get ahead of yourself. Expand slowly to avoid investing in a space that's too large or expensive for your business to sustain.
5. There's a demand for more products and services.
If you've created a product that has taken off, think about differences/different versions you could make. For example, if it's a food product, think about new flavor and size options. If it's an item of clothing, think about/believe more colors and fabric. Also, take your customers' input seriously. If they're regularly (all the time) asking for something you don't offer, or if they have an interesting idea for a new flavor or product, it might be something worth chasing after.
1. You can't keep up with demand.
The decision to expand should never be caused/brought about/reminded by a desire to stick to a random growth plan when you don't have any real reason for doing so. Before you even think about/believe expanding, ask yourself if there's a need. Do you have more orders than your staff and facilities can handle? Can you change something (to help someone)/take care of someone the number of customers that you're attracting? If your numbers warrant growth, that's the first step.
2. You have a solid team in place.
A strong group of workers is extremely important when you're (thinking about/when one thinks about) expanding. If you're planning to open new locations, you're going to be spending a good deal of time getting things up and running in those areas, so you need to have people you trust to hold down the fort. If you don't have confidence in your team, make some changes and key hires before moving forward. Also, ask yourself if you need to hire more workers. Before you expand, you'll want an (able to do something well/very good), well-trained team ready to go.
3. You have enough cash.
(act of something getting bigger, wider, etc.) takes money. So, even if you have a ton of orders, you're not in a position to grow unless you're actually getting paid. Only when you have strong, positive cash flow should you think about/believe taking the next step.
4. You're running out of space.
Whether you're working in a restaurant, a manufacturing facility or a commercial kitchen, you obviously need enough room to operate comfortably. And if the number of customers visiting your business has spiked or you've increased staff but are still in the same space, everyone is going to get frustrated. Don't be rushed about leasing a larger space or opening a new location. First, make sure that your growth is consistent and not just a seasonal spike. Also, don't get ahead of yourself. Expand slowly to avoid investing in a space that's too large or expensive for your business to sustain.
5. There's a demand for more products and services.
If you've created a product that has taken off, think about differences/different versions you could make. For example, if it's a food product, think about new flavor and size options. If it's an item of clothing, think about/believe more colors and fabric. Also, take your customers' input seriously. If they're regularly (all the time) asking for something you don't offer, or if they have an interesting idea for a new flavor or product, it might be something worth chasing after.