It can be difficult to know when to scale a business. You are operating successfully and easily turning a profit at the level you are currently at. You could expand your business, reach a new target market, and rapidly grow your profits. Yet, if this plan is not successful, you could lose the profits and business successes that you have worked so hard to get. These steps will help you grow your business at a rate that ensures efficiency and care.
Target new markets one at a time
Expanding too quickly can easily turn a successful business into a non profitable one. When it does come time to expand the business, it is important to do so with one market at a time. Consider which customer targets you are not currently reaching. Create a plan to expand to each of thes (more…)
Feb 19 2018