Once your business becomes profitable, your next goal is probably to see it grow. If that growth comes too fast, though, you could run into some unexpected problems. Here are the top six problems caused by rapid business growth and advice on how to handle them.
The growth and expansion phase is an exciting time for any small business. The primary goal of a startup is to get customers, deliver the product or service, and reach the break-even point as quickly as possible. According to conventional business plans, once the break-even point is achieved, profitability should follow. For some small businesses, though, another goal is rapid growth, and that can be a problem. Businesses often underestimate the intense pressure that accompanies rapid business growth.