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At What Point Should Business Owners Expand?

by kevin timothy
13 replies
Particularly internet marketers. At what point should you expand,
branch out, take on, or invest in new business ventures?
#business #expand #owners #point
  • Profile picture of the author James McAllister
    As soon as you're comfortably able to and the expansion will result in an increased net profit.

    I don't know why you'd wait. Of course, you want to make sure whatever you're working on now can continue to grow even as you devote your attention someplace else.
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  • Profile picture of the author kMatthews
    When you see the right path take it. You can't sit around and wait.

    When amazon.com was just starting up a man could of invested 50k for a stake in the company. He never got around to paying that 50k. That investment would be worth millions today....

    If you want to find success quicker be fast but not in a hurry!
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  • Profile picture of the author YourGoToWriter
    If you think that the your profit is going stable, when you've found a great investment opportunity for your business and you think that you can afford to invest in such without having to sacrifice any of the amount that you have earned for a specific purpose (and is not allotted for that investment opportunity), then you're good to go.
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  • Profile picture of the author leilani
    I'll ditto the Niche Man.

    When you have mastered your first business, then you can do whatever you decide to expand. You already have the fundamentals and success to do the "next one".

    Leilani
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  • Profile picture of the author discrat
    Originally Posted by kevin timothy View Post

    Particularly internet marketers. At what point should you expand,
    branch out, take on, or invest in new business ventures?
    I agree with some of the others...when you know your first business and the ins and outs so well like the back of your hand. And you are consistently making Money every week. Then it might be time to look to adding to your Assets with another form of cash flow



    - Robert Andrew
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  • Profile picture of the author Jonathan S
    An increase in demand usually dictates the need for expansion.
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  • Profile picture of the author quadagon
    You'll also need to ask yourself can i put the time/energy into the expansion without effecting my current business.
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    I've got 99 problems but a niche ain't one
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  • Profile picture of the author Randall Magwood
    Originally Posted by kevin timothy View Post

    Particularly internet marketers. At what point should you expand,
    branch out, take on, or invest in new business ventures?
    When you've hit your particular business income needs... for yourself and family. This may be $5k a month, $10k a month, or even $50k a month. It all depends on YOU. To truly gain leverage over your life and "Murphy's Law", you will definitely want to expand and go into other niches, and duplicate the money making process. "Multiple Streams of Income".
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  • Profile picture of the author jamesburchill
    Interesting thread ...

    The general consensus here is growth is good. Sorry to rain on the parade, but growth isn't always good, in fact it's not a forgone conclusion nor should it be assumed either.

    Sure, under the right conditions it might make sense ... and for classically built businesses it's "the done thing" ... but we're not classical businesses are we?

    For some entrepreneurs growth means death of their venture. There is such a thing as a sweet spot. where the work and rewards are perfectly balanced. If you are happy and getting what you want, then growth can often mean this balance is broken.

    To be clear, I'm not saying that all growth is bad - obviously not. I'm simply saying the assumption that growth is a must - is a dangerous assumption because it can really mess up your model.

    Consistent, predictable profits should not to be ignored. And contrary to popular belief, the grass isn't always greener on the other side.

    Just be very clear on why you might wish to undertake an expansion ... there is always risk associated with it.
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    James Burchill ~ Bestselling Author & Coursepreneur
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  • Profile picture of the author kk075
    Honestly, there is no right or wrong answer here; you should expand when you're ready to expand. You can put fifty people in the exact same situation with the exact income levels, mailing lists, etc....and all fifty of them could have completely different answers.

    That's because each of us has our own goals in life that may or may not involve internet marketing, and expanding may be the worst possible option for someone. The only real guarantee is that it's going to take hard work and there's going to be problems, and only each individual can say whether or not it's worth the headaches.
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  • Profile picture of the author jazbo
    As soon as possible.

    But you should have a plan with adjustable goals when you start out, so it should not be a huge decision.
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