It’s a straightforward question but not one that many ambitious business owners ask themselves.

The majority of business owners want to grow their business – a bigger business equals more money in the pocket (theoretically) and a more secure future. However, not assessing your current position and what you will need to deliver your growth could be detrimental to your business.

Expanding the business too fast is one of the top reasons businesses fail.

You might be looking into new markets or new income streams; it is easy to dream big and focus on the end result but by regularly taking a snapshot of where your business is right now you will ensure you don’t overload any one area.

There are five key areas to assess each time.


Cash is king – always. Do you have a buffer to invest now? If not, when will it come in? Are you living hand to mouth that any additional expenses will exasperate? Or does the business run very smoothly?

If you are doing a cashflow forecast, updating it monthly and making strategic decisions based on the hard facts, then you will be OK here.

If not, then this must be the first step. Knowing exactly what the numbers are doing at all times is crucial to manageable growth.


Do you have the right people in place? Are they very busy or do they have capacity, are they on board with the direction of the business, do they have the right skillset?

It seems an obvious one but fully understanding the pinch points in current processes and whether your current team breeze through a day or regularly bail you out with you knowing can be make or break when you add additional workload.

Another area for thought here is whether your team have personal development plans. Have you had a conversation with them discussing where they want to be as the business goes forward or what additional skills they might like to acquire? Your team are one of your strongest assets so nurture them well.


This is everything else, physical equipment and partnerships. Do you have the right tools for the job, do you have enough of them? Are they fit for purpose?

What about suppliers? When did you last tender for the contract? Can they cope with increased demand? Will there be a need to outsource anything as you grow?

Having strong resources in place will stop some of the worry as you grow – there is nothing worse than being kept awake all night because your business is dependent on somebody or something else.

Personal Development

Personal development always gets missed when business owners think about their growth plans. Many businesses struggle because the business owner has not improved their skills to cope with a larger organisation.

Making sure you engage with current thoughts in your market is essential. This is another area of significant business failure, when a business stays too inflexible and does not grow with the industry it serves.

This is not necessarily about doing the lasted course or qualification, watching webinars, reading books, listening to podcasts and general networking are all useful in self-development – even if they do not link directly to your business.


This area definitely gets overlooked and is separate from personal development because this is about your mindset. Are you in the right place to manage growth effectively? You not only need to maintain your judgement but stay driven too. Find some trusted people in and out of your business circles to keep you grounded and bounce ideas off, also to vent your spleen at – it all helps keep a healthy mind.

If moving your business forward is a priority for you then check out this handy tool that will help support your vision and action plan.