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It's Friday, friends! Welcome back to the Business Discussion space. I've shared several articles with you that cover many topics. One of the most popular themes deals with starting your business. Well what happens after you've started and grown your business? Today I want to share an article from gildshire.com that discusses the next step - signs your business is ready to expand. Here's what they had to say:
Your Industry is Growing
Whether it's food, retail, technology, whatever your industry may be, after your business has seen some success, take a look at the industry as a whole. As the article mentions, if the industry is taking off and there are limited companies within your field, and especially in your local area, it may be the perfect time to expand. "By capitalizing on the demand for your product within the industry, you are almost guaranteed success with your growth."
Your Team Has Holes to Fill
Speaking of taking a look at things, look at your team. Are your employees spread too thin? Do they not have official job titles and just handle any and all work that's given to them? That's another key sign you're ready to grow. Consider how your team operates and think about how everyone would react with new employees.
Your Space is Cramped
Are you and your employees constantly rubbing elbows when trying to move from point A to point B in your workspace? Are people sharing desks? How about space for customers - are they fumbling around when it's time to form a line when it's time to checkout? If the answer to these questions is yes, you guessed it, it's time to expand.
You're Reaching Your Goals
Say you have a list of goals, and they're all getting checked off. Another clue your business is ready for further growth. Expansion means you'll be able to plan to reach even larger goals. Your business will thank you for it!
If you read this post and said, "Wow! That sounds like me." congratulations! Your business is ready for new growth! Check out the link above for even more signs that point to expansion. How did you know it was time to broaden the horizons? We'd love to hear your experience. Have a wonderful weekend!
