One skill all successful business people have in common is knowing when to seek the advice of experts. For small business owners preparing for expansion, the advice they need may relate to managing finance, complying with regulations, recruiting employees, training, and supervising new staff. The following tips encapsulate the collective experience and expertise of small business owners who have met the challenges posed by business growth and want to share what they’ve learned with others in the same situation.

Analyze the Risks and Benefits

A growth plan for a business begins by assessing where the company currently stands in terms of assets, liabilities, and cash flow. Based on the financial analysis, the next steps can include projection of future sales and calculation of the resources required to achieve specific goals.

• Small businesses in Ohio can use the financing guide of the Ohio Small Business Development Center(SBDC) for help planning for business growth.
• TheWomen’s Business Center of Ohio has locations in Cleveland, Akron, Cincinnati, and Columbus. For a small fee, small business owners can access libraries of resources on every aspect of starting, running, and growing a small business.
• Local offices of the U.S. Small Business Administration in Ohio are listed in theSmall Business Resources Guide, including eight SCORE offices and 13 SBDCs.
• The SBDC site provides a complete list of all 28 SBDC locations, including a map showing their locations in the state and links to their websites.