Running a business is like caring for a seedling without any idea of what it is you're growing. Pivots being what they are, often the business you Start isn't the one you end up raising over time. That doesn't mean you can't plan for growth. Indeed, you should—just more frequently than you might think. After all, today's crisis is gone tomorrow and you need to be ready for whatever might come the next day. And the next decade. Fail to prepare your Company for the future, and it won't have one. Where to begin?
Take your pick. There's no shortage of thorny-butvital issues to tackle. It Starts by setting goals that are both audacious and achievable; girding your finances ahead of a recession; grooming future leaders to help transition your business from one stage to the next; even figuring out who'll buy the farm (or run it) when you move on.
The good news? While daunting, this is a huge opportunity. Make the right moves now and Future You will be forever thanking Present You, probably from an Elizabethan garden or something. To help you in your efforts, we've enlisted dozens of successful entrepreneurs to offer guidance on crafting plans to get your business exactly where you want it to go. Let the growing season commence.
Alexandra Cristin
Founder and CEO
GLAM SEAMLESS
“Set realistic goals that are scalable with action items clearly defined—for example, an increase in sales of 15 percent as opposed to 50 percent. I grew my business 100 percent year over year for seven years. It was very unsustainable, and you pay for it at some point. Attainable and stead wins the race.”
Cristin bootstrapped her New York City DTC hair-extension business starting with only $1,500, building it into a $25 million Company within five years. It was acquired by Beauty Industry Group in 2019.
5% OF SMALL-BUSINESS OWNERS SAy THEY HAD ACHIEVED ALL OF THEIR GOALS IN THE PREVIOUS 12 MONTHS. NEARLY 65 PERCENT SAY THEY HAD ACHIEVED MORE THAN HALF OF THEIR GOALS.
Source: Clutch
Paul Goldman
Founder and CEO
MUSERK
“We set small, easy-tocomplete goals to give our team a sense of accomplishment and that we are moving forward. At the same
