I own a four-year-old company in the web & internet solutions sector. We were break even in six months, and for the last year, we were profitable. I am at the stage where I think I can grow rapidly from $10 million to $100 million in revenue. But I am not sure how to go about this. We are getting constant business, good referals, and more orders. However, when I think of having more offices spread over more regions, both domestically and internationally, I am not very comfortable with the idea. What if I take the wrong step and can’t go back to being a profitable business? What should I do at this critical stage? Please help — Robert
Congratulations on your success! When you are rapidly growing a business, you need several critical elements: a solid strategic focus, a management team that is up to the task, and $$$. From your question, it is hard to know why your instincts says go slow, but that gnawing feeling usually comes from a concern for cash. Before you do anything, you need to model the financial performance of the business under the several scenarios you are considering. This exercise will help you define your risks and will highlight how much investment you will need to pursue the growth.