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Growing Up Now that your business is booming, what's the best way to expand?

By Lynn Beresford

Opinions expressed by Entrepreneur contributors are their own.

Any entrepreneur who's been in business a few years knowsthe feeling. You've reached a certain plateau-you'veexpanded the business as much as you can without adding on to yourbuilding or opening another location. Sales are up, profits aretidy and customers are hinting they might like to see you do more.You are decidedly antsy; you may even be downright bored. You wantto grow, but the question is how?

There are many options. You could franchise, get into licensing,acquire another company, form a limited partnership, spin off youroriginal business, start a different company or, if you own aretail store, open a second location. If your company is reallyready to take the next step, one of these options is probablyideal.

But however you decide to do it, growing your business for theright reasons is key. Ego shouldn't be a major factor in yourdecision; neither should boredom. According to Donald Reimer,president of The Small Business Strategy Group in Southfield,Michigan, growing for the sake of growth is perhaps the worstmistake an entrepreneur can make.

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