Business Growth
Business Growth
Business growth is a function of the business lifecycle, industry growth trends, and the owners desire for equity value creation.
Business growth is the expansion of the company in terms of growth in revenue, customer base, market share, or producing more goods. There’s no universal formula for calculating business growth since each company is a unique ecosystem. Why is business growth important for a small business? It’s important that all companies experience growth. However, the
type of growth required will depend on the stage of growth the business is in. Start-ups usually need to grow to cement their position in the market and quickly get to a size that is large enough to bring in enough revenue to cover costs and begin to make a profit.
Mature companies don’t need to grow quite as fast. However, they may still want to ensure their metrics are going in the correct direction. An increase in profitability, brought about by sales process efficiencies, could help a stable business build liquidity to protect against future risk, even if revenue and sales stay the same. Here at Greater Concepts by Design we focus on big picture details that render positive bottom-line results. We encourage you to read our monthly blogs, which offer valuable insights to the entrepreneurial spirit.
