Ready, Set, Expand…or Not

When is the best time to expand your business? Or the better question may be, when do you know it is the Right time to expand?

When you begin to look beyond your service area or your product line-up, you are likely ready to expand. Embrace it. Seek the input from your Circle of Trust Advisors. Detail what you will need to accomplish this - both human and financial resources. Turn this into an exciting time for you and your company. Not putting it all on your shoulders alone will be a much more positive approach.

We met with a woman business owner over the weekend. She explained how her path to expansion seemed to find her. The right time to hire an assistant, a chance connection with a complimentary service provider, a gala seated with similar entrepreneurs. The universe was trying to talk to her and she decided to listen.

Expand for the right reasons. A new market is in need of your product, a new industry can use your product, a new group of clients are interested in your services, a very happy client opens up a new community to you and your services. These are all great examples of why and when to expand.

We all have some level of a competitive nature. But do not let that drive your decision to expand your business. Identify the positive attributes, lean on your Advisors, seek client input, move forward when you are inspired, excited, and ready to make it happen. You will know when all the stars align and the sensation of accomplishment is already on the horizon.

When it comes to expansion, timing is everything, as they say. And what better time than now, as we emerge from a Pandemic living of several years? Seek the guidance, do the research, identify the resources. Your pathway may soon be Illuminated with the future and bring your sunglasses! If you do this at the right time with the right resources, your firm’s future will be very bright!

Be well.