Are You Ready For Expansion?

Inquirer.net:

Most newbie entrepreneurs rack their brains trying to think of ways to sell more. Marvin and Melani Natores wonder how they can keep up with surging demand for their products and are even struggling with the basic question: ‘Are we ready to grow the business? Are we ready for wealth? Is it possible to be rich and happy?’

Nuts? Foolish? Crazy? Who wouldn’t want to be in their shoes, huh? Believe it or not, it’s a serious matter on their part.

They have received queries on franchising, been booked for events outside Metro Manila, toying with other novel product ideas and are wondering whether to consider advertising. But they still come back to that question on whether they are ready to expand.

Business mentor Willy Arcilla attacks the issue with sensitivity and understanding. He reminded them that competition comes naturally with business growth and they have to be ready for it. Operations and logistics become more complicated.

Finding time to be with family becomes a constant struggle when business keeps you occupied and pre-occupied. There’s also the issue of putting in more money. Expansion without careful thought can be counter-productive. Read on…