Venture Finance Venture Finance
In an owner centered business, the mode of expansion becomes rather difficult especially if the business is weaved around you. You may find it hard to manage the blockages in expansion. As the business is owner dependent it’s hard to provide a service or product with the same consistency and quality along with its geographical expansion especially when you involve someone else. And the situation is even more difficult when the business depends upon your specialized skills.
For example, a writer who has started a magazine of his own cannot afford to write all the articles himself. In this case an ideator cannot be the sole executer as it may blur the vision. Hence in order to keep ones vision focused and passion intact, one needs to get rid of day to day operations.
In a business consisting of specialized skills it is difficult to find someone who can provide the same quality of service. Go for it, it step by step. Analyze and narrow down the functions which can be performed by someone else. Start introducing the other person to the customers so that they too get acquainted with him or her.
This mode of expansion may be risky. First analyze your business and go for an expansion only when you are confident on the quality and smooth operations. But for those ready for the challenge, expanding an owner-centered business can increase reach, add new markets and raise profits.
Vishal Saxena
