Even before you start, have a vision of what your business can beget.
Focusing on one business idea during startup is common. But is there a way to plan for any eventual business add-ons and spinoff ideas during your startup phase, too?
Absolutely, says John Reddish, managing director of Advent Management International Ltd., an organizational transition, growth and succession consulting firm in Drexel Hill, Pennsylvania. "New product and service development should be part and parcel [of] your plan," he says. "It's always better to be open to the possibilities that the idea you're starting with can breed other ideas." So even if you're just starting up, you can still begin thinking of possible add-ons, tie-ins and sister companies that might be good for growth down the line.
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