Starting a Small Business: Think through NOW how you will handle Growth!
Q: I started a web design company last year and it’s going great – I have more work than I know what to do with. My problem is that I have been asked to do a site that is much bigger than anything I have done before and it will take all my time for a while. Should I outsource my current stuff, juggle better, or what? — Alicia
A: In the life of any small business, there usually (and hopefully) comes a time when an opportunity arises that can allow you to take a quantum leap. Maybe it’s a contract with a big company, or a great distribution deal, or a competitor goes out of business. Whatever the case, when it happens, we are all inclined to say yes and reap the rewards.
But know this: There are not always rewards for growing fast. There are pitfalls a plenty, and you better be aware of them if you want to avoid them…