Small business owners make hundreds of important decisions every day -- from whether to order more inventory to how to improve the customer experience. But one of the hardest decisions every small business owner makes is whether -- and when -- to expand. Any expansion comes with risk, as well as the potential for huge rewards. Here are some questions to ask that can better enable you to determine when -- or in some cases when not -- to opt for growth.
(1) Profitability and a stable balance sheet.
(2) Strengthening industry?
(3) A bigger market?
(4) Talent pool?
(5) Adjacent markets?
(6) Appropriate funding in place
(1) Profitability and a stable balance sheet.
(2) Strengthening industry?
(3) A bigger market?
(4) Talent pool?
(5) Adjacent markets?
(6) Appropriate funding in place
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