Is Your Business Prepared for Growth?

Is your business poised for expansion? Planning and preparing for growth is the first step in the process. The SRSU-RGC SBDC is here to assist you make decisions that facilitate growing your bottom-line while moving your business into the next phase. The following items demonstrate things to consider as you make plans to grow your business.

1. Plan to Grow

  • Have you reviewed your business plan recently to address opportunities for growth?

2. Your Operational Plan

  • Is additional working capital necessary for you to increase capacity?
  • Do you need to increase efficiencies and effectiveness through better production processes, less waste, and increased quality?
  • Do you have the capacity to meet current and future sales levels?
  • Is additional space or a different facility needed to meet capacity needs?

3. Your Team

  • Do you have the right people on your team?
  • Do you have a recruitment plan for attracting future personnel?
  • Do you have defined job descriptions, responsibilities, skill level, and experience needed for each position within your organization?

4. Increasing Your Market

  • What is the market potential for growth?
  • Do you have a marketing plan?
  • What is your promotional strategy to reach your target market?
  • Have you defined a marketing budget?

5. Your Financial Plan

  • How much capital will you need for business expansion?
  • How will you raise this capital?
  • Do you have a business plan for investors/lenders to review?
  • What are your anticipated sales, profits, and cash flow based on your expansion plan?

SRSU-RGC SBDC business advisors are knowledgeable and bring a wealth of experience to our clients. Take advantage of the opportunity to meet with one of our advisors to assist you with your business’s growth potential.