Where Do I Go From Here

So, you have been running your small business for a while and you finally feel that it is on a solid foundation. You still have your days where things don’t seem to go right but they are getting fewer and farther between, they also don’t feel like everything is going to come crashing down around you at the drop of a hat. The question you now have to ask yourself is Where Do I Go From Her?

In reality, you have a number of options:

  • You can continue in the manner that you are currently
  • You can look at a strategy of managed, organic growth
  • You can look to grow at a steady pace through merger and acquisition
  • You can look at aggressive growth both organically and via M&A
  • You can step back from the business, either sell it or put management in place and look at starting the whole process again with a new venture
  • You can look at bringing in investment to help you take the business to the next level
  • You can look to branch out into overseas markets
  • You can look to diversify your product lines or sales channels
  • Etc, etc, etc

None of the above are the right or wrong answer. The point is that you have a number of options available to you and the only right decision is the one that suits a range of factors that you need to take into account such as:

  • Time available
  • Financial Resources
  • Risk Appetite
  • Skills and experience
  • Size of the market
  • Availability of organisations available for acquisition
  • Availability of investors and their appetite for your business model

Whatever you decide to do, the important thing is to periodically take a step back and assess where you currently are in your journey, take the time to strategically plan what the next steps are that you would like to take and put that plan into action.