To move your small business to the next level, expansion may become necessary at some point. Whether this means growing your product line or setting up an additional brick-and-mortar shop, a long-term growth strategy can make a huge difference. However, as most business leaders know, unchecked growth can somethimes sink a small business.
When building a company, you should strive to create a strong work culture that attracts talented individuals who are motivated to work. But it's also important to include a growth plan in that culture, and make sure anyone you add to your team has the same vision you do. In the Silicon Valley startup ecosystem, this is sometimes overlooked, as businesses seek to install someone who has the right pedigree but perhaps is the wrong cultural fit.
In a growth-mindset culture, employees should be given the freedom to contribute to the company's success, which can lead to an increased sense of commitment to the future of that business. The wrong combination of people can discourage that kind of contribution and push the company towards stagnations.