A recent article, Ready to Expand? How You Know the Time Is Right BY Courtnie Erickson says that expanding your business abruptly could hurt your company financially, hence you need to ensure your company is actually ready to expand before you decide to jump forward.
Here are four ways to determine that your company in small office space Denver is ready for the next level.
Your customer base is increasing. You may be ready to expand if your business gets a considerable amount of traffic and your customer base is increasing without spending lavishly on marketing campaigns, promotions, sales, etc. However, wait and observe your revenues and demands for several months to ascertain that the increase in customer base is stable and not a result of other factors such as the time of year, the economy or special sales.
You have a solid plan. You have a well-thought-out plan to maintain your customer satisfaction and ensure the quality of your product is not compromised.
You have steady cash flow. You have steady cash flow to pay all the expenses and liabilities associated with the expansion. Expansion entails large costs to pay such as hiring of additional employees, rental of larger office like open office space with cubes, acquisition of new equipment and machinery, etc.
You are committed. You and your employees are willing and dedicated to work on longer hours, ready for more responsibilities and more challenging tasks.
If you establish that you have a constant increase in your customer base and you can withstand the costs and demands for growing, then your business expansion will be successful. YourOffice Denver has come alongside hundreds of business looking for everything from staffed flexible offices Denver to agile office space Denver. We know your business is unique, and your office space shouldn’t be any different. Let us match the perfect space or service to fit your business needs.