"Everyone wants to grow. No one wants to be just a caretaker. But growth is tricky. Do you want to grow quickly? Perhaps sell and move on? Are you in it for the long haul? Want to leave a legacy? There is no right answer, but what you do and how you operate is impacted by your choices. Here are a few things to consider if you want to be an overnight success."
"If you want to grow quickly and be that " overnight success," you need the cash to scale up all areas of the business. However, one of the key impediments to growth for entrepreneurs is access to capital. Without cash you cannot buy raw materials, machinery or other equipment. You also need people to do the heavy lifting at start-up and then keep a steady work pace once you are past the rush."
Overnight success narratives often obscure the practical challenges most entrepreneurs face. Rapid scaling requires ample cash to purchase materials, equipment, and to hire and retain staff. Marketing expenses are critical for visibility in a digital marketplace and frequently exceed expectations. The SBA recommends that small businesses with under $5 million in revenue and 10–12% net profit margins allocate about 7–8% of gross revenue to marketing, though fast-growing companies often spend more. Business owners must choose between rapid growth, selling, long-term legacy building, or steady stewardship, and those choices shape resources and operations.
Read at Entrepreneur
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