From a question asked at my plan workshop
MC. “What’s a typical rate of growth?”
MVH. There’s no typical rate. It is better to ask what growth rate could you handle? Also, what is the right size for you to grow to? How big do you want to grow and why?
Your rate of growth will depend on several factors:
• How you finance–self, bank, investors
• How scalable your business concept is
• Quality of your top people. Your growth team
• Your systems. Can your systems be easily scaled up?
• Ease of bringing in new customers
• Your ability to manage growth or to hire managers who can do so for you
• Outside variables. Economic climate. Amount of competition. Laws and regulations that impact you.
I would be glad to help you assess these things for yourself. This is an issue we work with all the time in our Business Groups.
