Taking a business from an idea to a realization is a big accomplishment. Oftentimes business growth can catch a small business owner by surprise, they are so busy maintaining the business that they forget to make time to think about a business growth strategy.
You might be wondering how you’ll know if and when your business is ready to grow. While every business is unique, there are some signs to look for. Take our quiz to see where you stand.
Take the Quiz: Is your business ready to grow up?
What should you do next?
If you’re the owner of a Growing Business:
- You’re well on your way to taking your business to the next phase of growth. You are aware that a business growth strategy should involve a constant reassessment of operational aspects of the business, and have what you need in place to accommodate ramping up your offerings.
- Even with a solid plan in place, you can still benefit from hearing business owners’ insights as they’ve grown and scaled their businesses. Check out our “Growing Up Your Business” guide for a wealth of business knowledge.
If you’re the owner of a Business Beginning its High-Growth Phase:
- Sounds like you’ve done well and set your business up for success by sheer tenacity. You’re probably ready to make the next step for growth, but make sure there’s a method to your madness. Take a look at day-to-day operations, plan for an expansion of marketing and market penetration, and assess hiring and the staff skills needed to grow.
- Thinking about transitioning your small or medium-sized business to a well-working engine? Check out our “Growing Up Your Business” guide for a wealth of business knowledge.
If you’re the owner of a Business That is Ready to Craft a Business Growth Strategy:
- Growth may be on your mind, but it could be beneficial to take step back and develop a solid strategy to help pave the way for your business. Investing in the right tools, technology, and most importantly people, your service-based business can not only grow now, but also thrive in the future.
- Not sure what the next step in your business strategy is? Check out our “Growing Up Your Business” guide for a wealth of business knowledge.