The Accidental Entrepreneur: 50 Things I Wish Someone Had Told Me about Starting a Business

By Susan Urquhart-Brown | Go to book overview
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CHAPTER 7
MAKING ROOM FOR
MORE BUSINESS

Expanding Your Business

WHEN YOU KNOW it is the right time for your business to expand, ask yourself why. What’s in it for you? What’s in it for the business? What’s in it for the customers or clients? Based on your answers and/or discussions with your partner and selected employee(s), formulate your vision for what your business will look like in the next two to three years and how you envision getting there. Now you’re ready to set your revenue goals, objectives for business growth, run the numbers, and start researching what options fit your business and the vision.

Know when to loosen the reins. When you are running the whole business and all decisions are yours, it’s hard to do let go and let others step in. But it may be necessary for growth.

Often the founder of a company needs to step back and let her management team or her righthand person run the day-to-day operations so that she can focus on new projects, products, programs, or the new expansion of the company. This is healthy for the growth of the company and ultimately the founder.

49 “Know when to loosen the
reins. When you are running
the whole business and all
decisions are yours, it’s hard
to let go and let others step
in. But it may be necessary
for growth.”

-155-

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