Business Planning Process Planning & Strategy

How To Know When It Is Time To Expand Your Small Business

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The term growing pains in business means just thatโ€”sometimes growth, although a good thing, can be painful. Identifying certain issues will help in understanding how to know when it is time to expand your small business.

Turning Customers Away

This sounds impossible, but it does happen. There arenโ€™t many businesses, large or small, that want to turn customers away.

Sometimes, when a business knows they have taken on too much and growth is happening quicker than expected, it is best to be upfront with customers and earn their respect rather than holding on, knowing you wonโ€™t be able to fulfill their needs in a timely manner.

This is an obvious sign it is time to hire some help and expand the business. You may also want to consider installing a time management system to assist in seeing where time is being used so you can better organize your operations.

You Lack the Skills

You started your own small business, which took plenty of skill and risk. Now as the business expands, a new set of skills may be needed.

Rather than beat yourself up trying to do it all, there may be someone out there who can easily cover this skill set for you. This will lift a lot of the worry off your shoulders, as you can rest assured tasks are fulfilled properly and timely.

You Are Feeling Comfortable

Comfort is great, but not when building a business. If you are feeling like everything is a breeze and each day is easy, it may mean your business is ready for more

Remember, growing pains. As a small business trying to grow, it should feel uncomfortable. If it doesnโ€™t, do some reevaluating and see what more you could be putting into your business and your customers.

As you navigate how to know when to expand your small business, keep in mind every business is different. Asking yourself the three questions of customers, skills, and comfort will be helpful in the decision process.

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