The year was 2007 and I thought I was ready to expand into two locations. So, I began to look for a second location. I found a building that was about 15 miles from my current child care center at the time.
I called my license specialist, I set up a time for her to view the building. The building and the location was perfect, however there was one issue; I was not mentally ready to manage two locations grossing in over one million dollars in revenue.
In fact, I had only been operating my first Child Care Center for only four years and I was struggling with managing staff.
So, I decided to not open that second location in 2007 and I decided to increase my knowledge in Business and pursue a business degree.
In 2010, I completed my Business degree Online at the University of Phoenix and I am proud to say that was the best business decision I could have ever made.
I have been empowered to do business on a larger scale! Moreover, I am in no way saying that you need a Business degree in order to manage Business growth.
However, I am saying this; get the information that you need to manage a larger Business. This could include, getting a mentor, reading books on staff & business management. Whatever your plan may be, get prepared before you consider expansion.
Four years after completing my Business degree, I knew in my spirit that it was time to expand. My massage therapist told me about a vacant building that was only 1o -minutes away from my current location.
So, I stopped by to see the building. When I walked on the property, I knew that was my second location.
My Twelve years of experience operating a center along with getting that Business Degree; prepared me to manage a 6,000 square foot building that would be licensed for 99 children with 20 plus employees.
Also, within two years of moving into that location, I opened another location. Now, my vision of having multiple locations has become a reality!
It may not take you 12 years to prepare for Business Growth, however, I am so glad that I didn’t expand back in 2007, because I believe it would have drove me crazy or drove me out of Business!
Today, I want to share with you, 7 Insightful ways to get Prepared for Business Growth:
- Evaluate the State of your Business Financial status. Are you doing a great job managing the budget? Is it vital to your Business, that you expand? Do you have the funds to grow your business?
- Evaluate your Business Management Skills. How are you doing managing the current Business? Do you feel like you are a great business manager? Do you feel that you can handle more?
- Get a Coach. Do you have the knowledge to operate on a Bigger scale? If not, get a coach or a mentor?
- Learn from other Business Owners that are doing Business on a Bigger scale?
- Believe you can do it and Trust your Instincts!
- Develop a Plan to grow as a Leader. If you are not developing the leader within, you could literally destroy your Business Growth & Success!
- Get Organized! The more that you have to manage, the more organized you will need to be.
I want to hear from you! What’s stopping you from growing your Business? Are you ready to grow your Business? Let’s talk….
Shiketa
Recommended Resources:
Child Care Business Expansion Guide
The Art of Owning a Center Audio Series
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