We have completed our series of blog posts on starting your small business, but if you have missed any of those articles and you want to teach yourself about the steps to take when you are starting a small business, I’ll put the links to those articles at the end of this post.
Today we are starting our series on growing your small business. Having started successfully, you are not turning your attention to growing your business.
One of your most important tasks of this stage is to set yourself milestones in the growth of your business so that you can recognise when you have reached various points of success. When should I hire more staff? When will reach a point in my profits when I can invest in more equipment? When do I start paying off my startup loan? When should I look to open a new store?
These are the types of questions you should identify answers to at the start of your growth so that you can recognise them and know what to do next.
This is why one of your most important tasks, other than writing your Strategic and Business Plans, is to measure everything.