Seven Strategies for Second-Stage Companies
Second-stage companies have survived the startup phase, and have the intent and capacity to grow. Taking your company to the next level often involves resources in a few specific areas.
Business Planning. Drive your business to the next level with a well-crafted business plan. And if you need funding for growth, your lender will want to see a business plan.
Marketing and Sales. Marketing is all about customers: knowing their needs and wants and creating the environment in which it is easy for them to buy. The Missouri SBTDC offers a great Guide to Developing a Marketing Plan. Also check out:
Human Resources: Your people are your company's most valuable asset. Be thoughtful in how you attract and retain the right employees to support your growth.
Maintaining Permits and Registrations: Get legal and stay legal with the help of this state-run website.
Get Funding: Explore the various options for fueling your business' growth.
Boards of Directors: Oversight and governance become increasingly important as companies grow.
Exit Strategies: Successful companies think as much about how to get out of business as they do how to get into business.
Missouri has a variety of business incubators designed to support business growth and development in many industries.
Technology and high-growth businesses can find additional information for growth in High-Tech.