{"id":863,"date":"2019-06-20T12:55:17","date_gmt":"2019-06-20T16:55:17","guid":{"rendered":"https:\/\/fluentricciardi.com\/?p=863"},"modified":"2022-01-27T12:56:25","modified_gmt":"2022-01-27T16:56:25","slug":"how-can-you-tell-when-its-time-to-grow-your-business","status":"publish","type":"post","link":"https:\/\/fluentricciardi.com\/how-can-you-tell-when-its-time-to-grow-your-business\/","title":{"rendered":"How can you tell when it’s Time to Grow Your Business?"},"content":{"rendered":"
Most small business owners hope to, or plan to, grow. When you open one caf\u00e9 you may have dreams of a nationwide chain. The first product you use to launch your manufacturing business could be one of many designs you have mapped out.<\/p>\n
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But how do you know when it\u2019s actually time to open that second caf\u00e9? Or start ordering the supplies to make that new product? Actually taking that step can be nerve wracking, but knowing what signs to look for and how to prepare for growth can make the growth process a lot less scary.<\/p>\n
What are the Signs it\u2019s Time to Grow?<\/strong><\/p>\n You may want to grow, but how can you when if it\u2019s the time to grow? Often, your business will give you clues.<\/p>\n Pay attention to your customer requests. Are they requesting more services, or asking for different products? These could be signs pointing you to potential growth areas. If customers are willing to wait for your services, or to work with you, and you have a wait list then you should consider expansion.<\/p>\n Another sign is when your industry is growing. When there is interest, and capital, pouring into your industry now could be the time to seize the opportunities that interest represents. Opportunities may be coming your way, such as another company reaching out and asking you to partner with them, or a customer bringing you a design idea for development, and if you say \u201cno\u201d you could miss out on the chance to grow.<\/p>\n Take a look around your warehouse or office. Are you running out of room? If your employees are bumping elbows at their desks and product is stacked up on the floor and between shelves it could be time to expand.<\/p>\n If your business is profitable, and you have excess capital, you could be searching for a place to invest your profits. Investing in growth can be a smart move, particularly if that growth would help shield you from economic downturns in the future.<\/p>\n