What to Consider Before Your Business Expands How to figure out where your company can expand and the financial models to get you there.
By Joe Worth
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Q: What should go into the decision to expand?
A: The answer starts with your strategic plan. Are you building a company with the aim of selling within five years, or one that you hope will continue growing for the next 50? The shorter the time frame, the more you'll need to focus on putting out a great product in lieu of diversifying or investigating new markets. If, however, your focus is on the long term, you'll want to figure out where your current operation can best pursue these three key areas for growth:
Geography. This entails replicating your business in a new location to attract new customers.
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