Many small businesses fail to grow due to the
http://www.온드림.kr/xe/proposal/1780319 lack of a solid foundation. The best way to accomplish this is to conduct thorough market research before committing any resources (financial and human) to new product or service expansion. Too many businesses rely too heavily on a few loyal customers, which is dangerous. This is the blog I wish I had read the first time I started a company.
However, at 25% per year (technically, 26%, but what's a percent point amongst friends) you can double your business in just three years (which is why I encourage all of our BizScalers Club members shoot for at least 25% growth per year as their minimum growth number).
Just take a look at this interview I did with Tai Lopez, where I was able to share my insights with tons of people by leveraging Tai's incredible social media presence. The Checklist companion lists Australian, state and territory government agencies that are referenced in the Growing your business checklist.
Most business owners associate growth with acquiring new customers on the basis that the more customers you have, the more sales you can generate and therefore the more money you make. Most businesses focus on one or two sales channels, but using others could make all the difference.
Understanding the principles of profitable growth, no matter your individual situation, is vital to a successful retail business. Much will depend on the nature of your business, its potential and your willingness to relinquish control, but attracting external investment could allow your business to reach the next phase in your growth plans.