Key Takeaways:
- Expanding your company takes careful planning, research and consideration.
- Only expand when your company is properly financed and you are emotionally prepared.
- Expansion does not always mean more profits, but does bring more overhead.
A company that has achieved a limit to what they can manufacture, sell or service is not always in a position to expand. Before you expand your business, you must do a lot of research and consider everything possible. According to the Small Business Administration (SBA), taking risks to grow or expand your company is not always a good idea if that risk moves the company away from its core.
