![]() Growing because of successĭo you want to grow your business because the cash is flowing in, profits are increasing and all your hard work is paying off? Your business may become a market leader if you take advantage of strong opportunities. However, growing your business because you are experiencing problems can sometimes make your problems bigger, with more money and risk involved. Growing to overcome problemsĭo you want to grow your business because you are responding to strong competition, smaller margins or falling sales? Growing your business may help you to overcome these problems and attract new customers if you move to larger premises and increase your resources and stock. Read more about responding to rapid growth. Your business may lose touch with competitors' activities.Hiring and training new staff takes time and money. Vital knowledge could be lost as staff leave. Staff turnover may increase due to heavy workloads.You may even lose customers to your competitors. The quality of your products and services could drop, causing an increase in customer complaints.Management may be under pressure, operating reactively rather than proactively.Taking on more and more work to generate more income places additional pressure on your premises and staff. There may be a shortage of cash to meet expansion costs.Morale may drop if staff cannot cope with the extra work. ![]() There may not be enough space for everyone to work efficiently.
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