The CEO Influencer faces three core hurdles:

Challenge #1: Risk of Expansion

This is a pivotal stage in a company’s life – it can grow into a big business or it can fall prey to owner impatience. Having a successful business model is not a guarantee the same model will work in a different location or with a different target market. Before rushing to broaden your horizons, look at your resources and be realistic about the effort, cost, and potential returns of expanding. If necessary, costs need to be cut and budgets tightened to sustain cash flow.

Challenge #2: Performance Improvement

This stage is marked by rapid year-over-year growth and a solid core of employees who are trained and loyal. Both operational and strategic planning are being done and your systems are more refined and extensive. You and the business have become reasonably separate, but the company is still dominated by your presence and possibly investor control. To further expand the company, you must prepare your key managers to competently handle the challenges of a growing and complex business environment – without relying on you.

Challenge #3: Funding Expansion

This stage is marked by predictable revenue, the acquisition of other business entities, and multiple product/service spinouts. In the face of growth and increasing distribution channels, put your energy into gaining a bigger market share as well as looking for new profitable revenue opportunities. Research “how to grow rapidly” and then create a streamlined plan to finance that growth. Your company is prime for investors to buy because its consistent performance can reliably generate revenue in the future.