How do I expand my business? - 59/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.Do not over stretch your business.Do not take on too many problems, customers, products or services at once if they will jeopardize your current standard of service.Expand as you can afford to. Remember that you can also pivot your business if things are not working- thus you must adapt and tweak if and when the market changes.Remember and acknowledge that there is no one way to build a business and that different strategies will work for different people. What works for some, does not mean it'll work for you.Have 6 months of expenses in the bank, in case the expansion goes wrong, but also have that much cash in the bank just in case.Define new kinds of customers to solve problems for, whether more customer personas or simply introducing new kinds of products and services.When you can serve more people without jeopardising your standard of quality or delivery, then your business is growing. That is how you maintain your brand and sales while growing.Question of the day: How are you expanding your business?
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Published on October 18, 2017 17:46
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