Growing a business means different things to different people. Some businesses grow unintentionally due to demand for their product or service while others grow intentionally a result of executing on a plan. In either case a business needs money to grow and its not always obvious where the money can be found. There is money available from numerous sources to help you grow your business but you have to understand where to find it and what the trade offs are.
“If you don’t know where you are going you’ll end up some place else” as said by Yogi Berra and used in different variations in almost every business book or self help book. There can be truth in common sayings and any quote or wisdom about getting where you plan to be even if you have no plan is more than half true. It is 100% true. Every business will end up exactly where it plans to be. In the face of no plan a business will do fine during a good market and will be in trouble during bad market. To the extent that a business knows what its goal or destination is, it will be able to grow and survive during good and bad times. For many small and medium sized businesses the “goal” can often be one of survival with no long term hopes or expectations. This is unfortunate because I believe many businesses fail due to their lack of planning and goal setting. My own experience teaches me this as does twenty years of working with entrepreneurs and business owners that have found themselves in need of financial help.