- Collin Rutherford: Business Blitz
- Posts
- 📈 Expand Your Business w/o Going Broke
📈 Expand Your Business w/o Going Broke
Learn from my mistakes.
Expanding sounds great, right?
Growing faster, reaching new markets, adding new customers.
But here’s the reality:
Expanding in the wrong way can leave you in the red.
Here are the keys to consider:
1. More Revenue ≠ Equal More Profit
Picture this:
One year, we tripled our branches from six to eighteen.
But guess what?
33% of those locations actually lost money.
Growing just for the sake of expansion can be a huge risk.
Revenue is great, but profitability is key.
2. Profit Over Growth
It’s easy to get caught up in the thrill of “more.”
But sometimes, it just doesn’t make good business sense.
Only expand if it’ll increase profit.
Otherwise, you’ll be on a one-way ticket to burnout.
3. Good Markets vs. Bad Markets
Not every market will fit your product.
Trust me - I learned the hard way.
Before expanding, ask:
Does this market need us?
Can we actually serve it well?
If not, that market will drain your time and cash fast.
4. Good Hires Only
Expanding needs strong hires.
Desperation hires?
Not it.
Sure, they fill seats, but they add stress.
Instead, grow at a pace where you can choose the right people.
Quality over quantity is the game here.
Rapid expansion is a dream outcome for most business owners.
But remember, slow and profitable growth beats rapid revenue-only growth.
Whenever you’re ready, there are 4 ways I can help you:
Hire me as a consultant to take your business to the next level.
Offshore Hiring Guide: Learn how to hire inexpensive ($6 / hour) offshore talent in 3 weeks or less.
Promote your business to 1,800+ subscribers by sponsoring my newsletter.
FounderBrands: Drive more leads to your business from Twitter / X. Grow your online brand in only one hour per month.
Cheers,
Collin Rutherford
If this newsletter edition was a startup, how would you rate it? |