An accomplished entrepreneur in Kansas City, Michael Emmons has been involved in the establishment and success of numerous companies. He served as the catalyst for an investment firm and spearheaded the opening of two multi-million-dollar gyms. Concurrent to these professional achievements, Michael Emmons was also growing a large alarm business in Kansas City and was responsible for building the company from scratch to more than $70 million in annual sales.
In many situations, the process of figuring out the right time to grow your company starts with figuring out your own mindset. You should enjoy the work that you do and embrace the role of leading a successful business. Each day, you should find the time and energy to run your company efficiently because you are committed to its success. Not only that, but you know your strengths and weaknesses and be extremely familiar with your brand as well as your company’s target market.
Even if you are prepared to oversee company growth, your business may not be financially ready. Ideally, companies that are capable of growing are consistently bringing in profits. Cash flow should be steady and comfortable and your business should be reaching some of the early milestones you set at the beginning. Further, your company should have a strong customer base and be capable of bringing in new customers with minimal effort. This ensures you will continue to have enough funds as you grow.
Finally, figuring out whether it’s time to grow your business relies on the strength of your team. Your top employees should have a good mix of skills, experience, and drive to ensure the growth process is successful. Growing your business will likely increase workload and bring in more employees and your team should also be prepared to take on these changes.