Chapter 10 of 10All chapters
Chapter 10 of 10
Growing
When and how.
Growth is not automatic
A profitable stable business is a legitimate outcome. Growth costs cash, adds complexity and changes the job, so it should be a decision rather than a default.
- Scale what is proven, not what you hope will work.
- Complexity grows faster than headcount does.
Funding it
Retained profit, bank borrowing and investment all fund growth and differ in cost and control. Investment is the most expensive money there is if the business would have grown anyway.