"A growth hacker is a person whose true north is growth. Everything they do is scrutinized by its potential impact on scalable growth," wrote Sean Ellis, a start-up marketing guru, in 2010, when describing those who wish to and can solve problems with innovative and unique concepts.
Keeping an Eye on Business Growth
The entrepreneur invokes his or her business spirit for two reasons: to supply the market with a product or service and to earn a profit. When a business owner notices a tremendous opportunity in the marketplace, that brand will have to take advantage of it in order to help the company grow.
Business owners will always have to be on the lookout for growth opportunities, otherwise being stuck in neutral and maintaining the status quo could eventually hurt the company in the long-run. With that being said, it should also be considered that growth should not result in the decreased quality of the current product or service.
Forgetting Their Roots
On many occasions, when private firms capture a growth opportunity, they will sometimes neglect to maintain the quality of what helped the company succeed in the first place. It can be like walking a tightrope.
An example of a successful business model is Facebook: it has maintained a social network while branching off into different realms, including virtual reality, photo-sharing, native video platforms, mobile app development and corporate acquisitions.
"Companies grow well and scale badly when they focus on running up the numbers but not the quality. They get bigger and start to look like just any organization. And there goes the value," said Robert Sutton, a bestselling author of "Scaling Up Excellence: Getting to More Without Settling for Less," in an interview with Inc. magazine. "They [Starbucks] made all these decisions about efficiency and standardization and cost that seemed sensible at the time. They didn't step back to see how the buildup was damaging the brand."
In other words, never forget your roots because if you do then your success can be your downfall. 
Ensuring Quality of Present & Future
You can prevent any decline in quality control by having a sufficient amount of funds on hand to ensure that you’re investing in the latest growth opportunities and covering the costs of the various behind-the-scenes aspects. Having enough business cash will allow you to accomplish this.
For instance, business cash can help cover the costs of establishing a new location and manufacturing new products. Moreover, a business also has to begin hiring additional personnel, upgrading technology and implementing brand new marketing tactics.
But wait just a minute. How do you even know it's time to expand? Well, there are a few things to consider before embarking upon this incredible business journey:
- A positive cash flow and similar business model.
- Be prepared for an influx of additional work.
- Ensure you have a talent that replicates your expansion concepts.
- Monitor the quality of your business, product/service and staff during growth.
- Do not become discontent over setbacks; they are expected.
Ambition, motivation and acumen are all ingredients to a recipe of business growth. As long as you have all three of these attributes then your business will perform like a well-oiled machine.
Business Funding Needs
Sometimes, however, a business can only grow when it has cash on hand. It can be difficult to fund an expansion but a merchant cash advance can help pay for the necessary investments and make sure the business meets it’s goal.
Financial services firms like Quikstone Capital Solutions offer small- and medium-sized businesses with lump sums of business cash that can cover temporary costs. Contact Quikstone Capital Solutions today and find out if it's the best course for your company.
