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Successful growth starts with a clear strategy
Determine if your operation is positioned for successful growth.
Learn about the benefits and challenges associated with common business growth strategies and how to determine the readiness of your business. Use your business plan and goals to evaluate growth decisions. Understand down payment needs and funding sources and assess your capital position to achieve your business goals.
What are my options for growth?
There are many different strategies for growth, and it's critical to assess the potential benefits and risks of each to select those that best fit your operation and goals.
| Growth Strategies | Non-Growth Strategies |
|---|---|
| Expand | Focus and specialize |
| Diversify | Delay, wait and see |
| Replicate | Downsize |
| Integrate | Exit |
| Intensify and modernize | |
| Alliances |
How do I know if my operation is positioned for growth?
Before digging into the numbers, it’s important to assess other aspects of your operation to ensure you're ready to take on the non-financial aspects of growth. These include:
- Operational assessment (production, processing and marketing)
- Industry assessment
- SWOT analysis (strengths, weakness, opportunities, threats)
- Liquidity and working capital analysis
