How do you handle a growing business?

[kayode10]

It is very important to manage a growing business very well. Some new enterpreneur often find it difficult to differentiate between an established business and the growing one. This is the reason why you need a mentor to guide you in the process of building a business.

 

[Toyoabasi]

Business growth usually means additional capital that may come from the profit. But if the profit is not sufficient for the growth like opening a branch store then the usual recourse is to get a bank loan. Why not sell an asset if you have something that is worth of value? This is a common problem to decide because most business owners just want to borrow money in the hope that the growing business can handle the installments.

Borrowing money as a means of helping a growing business isn't right for me.
Most times, you may not even be able to grow the business as intended with the money loaned. Later you'll have to think of repayment with interest.

 

[Dagm1]

To sustain constant earnings, a growing business must be effectively managed by keeping all financial records, spending prudently, and increasing awareness through advertisements.

 

[tyrim88]

If a business is growing, then it should be remitting enough profits too. The best way of handling such a business is to reinvest a high percentage of the generated revenue or profits.

When a business is on the path of growth,one thing that the business owner needs to do is to be able to handle income and expenditure properlly,once he knows how the dynamics works it will be easy to handle the growth process.

 

[Justin]

If your business is growing, it means you are generating more revenue. If you are generating more revenue, you will have funds to hire additional staff to look after your business.

 

[Laurentta]

You are right. A good way to create more funds for business is to sell an asset. I feel it's way better than borrowing money. I feel when a business is growing, it should grow all round even in profits.

 

[tray591]

You are right. A good way to create more funds for business is to sell an asset. I feel it's way better than borrowing money. I feel when a business is growing, it should grow all round even in profits.

There is nothing wrong if there is someone in your family who is willing to help you borrowing the amount of money you needed so for this reason matters regards the lend fund can be resolved within your family sometime you can also chose to go into one of the micro finance bank and loan some money to grow your business when your business has been grown to some certain stage then you can get the money refund

 

[Laurentta]

There is nothing wrong if there is someone in your family who is willing to help you borrowing the amount of money you needed so for this reason matters regards the lend fund can be resolved within your family sometime you can also chose to go into one of the micro finance bank and loan some money to grow your business when your business has been grown to some certain stage then you can get the money refund

Borrowing is not a bad idea especially when it's from a family member but if one has an asset, i don't see anything wrong with selling it to provide funds for one's business. It would save one from unnecessary debt.

 

[Kvngsammy]

One thing that business owners fail to do is that they don't plough back the profits into the business as it's growing. Always ensure that you keep a portion of the profits for growing the business as well and not only rely on the capital.

 

[eLdavis]

One thing that business owners fail to do is that they don't plough back the profits into the business as it's growing. Always ensure that you keep a portion of the profits for growing the business as well and not only rely on the capital.

This is one mindset that most business owners have to change form, they simply just assume once they start making profit they can do what they like. I had a friend who started a business of his own some time back, after making his first profit, he decided to spend it on personal things, this affected the business greatly cause there was no money to put back into the business.

 

[joy101]

When your business is growing it makes the owner happy, and is willingly to invest more money on the business so to get more profit from it.

 

[kayode10]

One of the ways to manage a growing company is to avoid frivolous spending. This will help you to maintain a positive cash flow in the business. You should also look for other opportunity to expand your market share. You can acquire other business as well.

 

[Swazykid4all]

Avoid converting the income or profit to your purse,keep adding more input into the business,check for more innovative plans and apply them.

 

[Abasiama40]

A growing business needs reinvestment of capital for it to continue growing. Before their can be any form of expansion, a business should be able to sustain itself without any external influence thereby setting aside small portions of income earned as savings in order to cater for expansion.

 

[Toyoabasi]

One need to be very careful when handling a grown business , and must be careful with bank loans because most times taking loans from bank really affects a company if you cant pay back on time.

Absolutely.
Especially for a growing business, it is important to try as much as possible to manage finances so as to avoid having to resort to financial institutions for loans. Many growing businesses have suffered the heat of loan repayment.

 

[Shigobad20201]

Getting loan is not always adviseable for a business because if you don't have the necessary means of repayment , the business is going to be hit and affected negatively.

 

[greenie]

When a business is on the grow, it gives the owner cause to rejoice. But we shouldn't be carried away cos we are experiencing some improvement on our business. We should be working hard to utilize other means to take our business higher.

 

[Sincerem]

The best way to handle a growing business is to let it grow naturally and we shouldn't try to force it more. You just have to try and continue your responsibility as a business owner.

 

[Setho]

There is going to be a lot of demands whenever something like this begin to come up that is why I think that you should be going to give tasks to other people and then handle the most important ones.

 

[Shigobad20201]

If your business is growing, it means you are generating more revenue. If you are generating more revenue, you will have funds to hire additional staff to look after your business.

Handling a growing business is not difficult as building business from scratch which is more stressful because you need to start from the business idea and raising the business fund.