ARE YOU READY TO OPEN ANOTHER LOCATION?
Starting up a business is no doubt exciting, and the thought of opening up more offices is too. But are you truly ready? You may just have the success or money in your mind, but you need to be sure you’re capable first. Opening more locations when you’re not ready may lead to your downfall.
WHY DO YOU WANT TO EXPAND YOUR COMPANY?
This is a very important question to ask yourself before you decide on opening up more locations. Wanting more success isn’t a bad thing, but it can definitely drive some people down the wrong path.
Don’t trick yourself into believing that more is always better; it’s not. Just because you have more than one office open doesn’t guarantee more customers. You can succeed well with one location, don’t force the rest.
Every business needs to be cared for and opening up another location means less time spent on the original. Of course expanding could be a really great thing, but not for the wrong reasons.
ARE YOU CONFIDENT WITH YOUR FIRST BUSINESS?
A lot of the time there are certain tasks and add-ons that the business owners provide that they overlook. While trying to open another business, assess yourself and look into every little detail, this will help with your success. Before you even begin to consider opening another business you need to really look at your first and see how well it did and if you’re able to do the same with the next.
If you were to leave on vacation for a while, would your business be perfectly okay? If you’re uncertain whether or not your company would still be standing, maybe you should reevaluate your thoughts. If your original business can survive what makes you think another could?
GET A HOLD OF THE NECESSARY PEOPLE
Just because you may have succeeded already with one business doesn’t mean you can do the same with multiple. When you’re looking to open more units, you will need a great staff. Especially while really trying to jump-start your career, you will need to find the best of the best.
When opening more units you need to be willing and able to take the time needed to fully train your new staff using the same methods as you have before. When managing several locations at once it may get tricky, but without you and your leadership, your whole world may come crashing down. You need to be prepared for the added work load it will bring.
GO FOR IT
If you’ve done all the necessary research and are prepared on what you should expect, why not? If it’s something you really want to do, the only thing that is stopping you is doubt. While being fully prepared is perfect, over thinking is not. If you’re confident in yourself and your company, shoot your shot and open up some more units.
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About the Author: Lalanii Wilson-Jones, MBA is a dynamic business leader based in Dallas, Texas who owns & operates multiple companies across several industries. Her range of talents and experience makes her an ideal candidate for strong economic partnerships all over the world, a great mentor and a great source of information that can change the mechanics of any sized company.
About the Firm: At Mogul247, we wish for our clients to be well-informed before partnering or partaking in any of our firm’s services. We hope your experience will be better once you know who we are, have more realistic ideals and goals about working with us, as well as understand what we are focused on doing for you and our community. If there are any other questions or concerns you may be having, please contact her assistant Jacqueline at (972) 707-0294