Business Education

Is It Time to Grow? 7 Signs Your Small Business Is Ready for the Next Step

Running a small business is a thrilling journey, but knowing when to take it to the next level can be daunting. Expansion—whether through new products, markets, or staff—requires careful timing and resources.

Recognizing the right moment to grow can set your business up for success while avoiding costly missteps. So, let’s identify some key indicators, from surging demand to operational strain, that signal your small business is ready to take the next big step.

How to Know When to Take the Next Step with Your Business

Growth in a small business doesn’t always arrive with fireworks or fanfare—it often whispers before it roars. The challenge for many owners isn’t just fueling growth, but recognizing when it’s time to step on the gas. Whether you’re considering expanding your team, upgrading equipment, or opening a new location, here are seven signs indicating your business might be ready to leap.

1. Demand Is Outpacing Capacity

Are you constantly turning down work, extending delivery times, or running at full tilt just to keep up? If customers are waiting longer than they should—or worse, walking away—your current setup might be limiting your growth potential. Increased demand is the clearest signal that it’s time to expand operations or bring in reinforcements.

2. You’re Wearing Too Many Hats

If you’re the CEO, bookkeeper, marketer, and janitor all in one, it may be time to delegate. When daily tasks eat into your ability to plan, strategize, and build relationships, growth can stall. Hiring key personnel—whether full-time, part-time, or freelance—can free you to focus on high-value decisions.

3. Outdated Tools Are Slowing You Down

Still relying on manual processes or aging equipment? That lag may be costing you time, accuracy, and even customers. If your team struggles with inefficiency or recurring tech issues, investing in updated tools or automation can boost productivity and support future scaling.

4. Cash Flow Can Support Expansion

Before making a move, check the financials. Are you consistently generating profits, managing expenses wisely, and keeping a healthy cash reserve? Sustainable growth requires capital. If you’re in a strong cash position or have financing options available, now could be the right time to invest in growth.

5. Your Team Is Ready for More

A capable and motivated team can be your greatest asset in expansion. If your staff is asking for more responsibility, innovating independently, or consistently exceeding expectations, you may have the talent infrastructure to support growth. Tap into their ambition to lead new projects or manage new hires.

6. You Have a Clear Vision and Systems in Place

Growth without direction is just chaos with a bigger budget. If you’ve documented systems, nailed your branding, and know exactly where you want the business to go, that’s a strong foundation. Scaling should enhance your customer experience—not dilute it—so invest in systems that help maintain quality and consistency.

7. Opportunities Are Knocking

Sometimes opportunity knocks softly: a larger client asks if you can handle more volume, a new market opens up, or a competitor leaves a gap. When external conditions align with your internal readiness, it’s often a smart time to act. Pay attention to those subtle cues—they might not last forever.

Something to Keep In Mind

Not every business is meant to scale in the same way or at the same time. But if several of these signs are showing up in your day-to-day, growth isn’t just possible—it might be necessary to keep thriving. Think of it not as “going bigger” but as “growing better.”

Want to Accomplish More?

Do you want your company to grow faster and earn more while spending more time with your family doing everything you started your business to do?

We can make that dream a reality. Give us 30 minutes, and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at 480-636-1720, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

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Help! My Business Partner doesn’t Help Run Our Business!

May 6, 2021 No Comments

It’s said that the only ship that won’t sail is a partnership. Outside law and medical practices, few partnerships thrive, let alone survive. There’s a slew of reasons partnerships don’t work out. But, most entrepreneurs go into them because they’re optimists by nature. After all, it’s easy to imagine a worthwhile scenario, particularly when it’s someone who is trusted. However, many of these ventures fail and when it starts to go bad, it’s time to take action. The Most Common Challenges Partnerships Face The most common problems partnerships face are incompatibility, money issues, distrust, and then there’s a list of life events. These include death, drug abuse, disability, divorce, and other personal experiences. If that’s not enough, there’s always a divide between visions — one person wants to take the joint venture one way and the other, in another direction. In an ideal business partnership, everyone contributes their time and labor toward making the company a success. When a partner isn’t pulling her weight, it’s essential to address the problem before resentments develop and the business suffers. In many cases, simply having a frank discussion can resolve your issues. —Houston Chronicle Small Business What’s more, egos can also become a huge problem — especially when one person is the single source of inspiration. Or, disagreements about staff, expansion, and just about everything related to the operation and future of the business. How to Deal with a Lazy Business Partner Fortunately, there are ways to deal with a partner who becomes a bit lazy. If he or she is slacking off or just not producing whatsoever, there’s most definitely an underlying reason. Depending on the circumstances, you can try one or more of the following to deal with a lazy business partner: Have an honest discussion. Like it or not, you’re going to have to confront him or her, but not necessarily in a confrontational manner. Don’t go into the talk with a bad attitude, or even one of superiority. Any hint of a negative vibe will only serve to turn them off and not cooperate. Talk about your visions for the company and all the good things that will come out of working together. Then, listen carefully to what he or she has to say. Offer some temporary help. It could very well be that he or she is just going through some personal difficulties. Or, feeling a bit helpless and hopeless amidst the economic disruption. These are very common feelings and the good news is that they will usually pass. Offer him or her a little extra help and support, but put a time limit on it. Provide a little flexibility. If it is just a temporary situation and he or she will bounce back quickly, don’t let him or her get overwhelmed too soon. Instead, provide them a little bit of flexibility and that can really work wonders. Consider a total buyout. Obviously, not all circumstances will warrant staying in business together, there are most definitely situations that simply won’t work out, no matter how much effort you put in. So, explore your options to sever the business relationship, and a possible buyout scenario. What other suggestions do you have for dealing with a lazy business partner? Please take a few moments to share your thoughts and experiences so someone else can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Guest Post: How To Collect Receivables Faster

July 15, 2018 No Comments

Any business that sends out invoices knows the frustration of waiting to get paid. This is especially true when you’re dependent on those payments to make payroll or fund necessary business expenses. How can you keep running your business when your clients drag their feet about paying you? Is there anything more frustrating than the endless cycle of hassling customers about their bills? If you’re facing this challenge, what you need are ideas for motivating your clients to pay on time. With that in mind, here are seven tips for how to collect receivables faster. 1. Use customer-friendly accounts receivable practices. To be certain you’re not the reason payments get delayed, make sure you are following your clients’ accounts payable procedures. It’s well worth the extra effort to make sure your invoices are not missing information that will delay processing. Likewise, bill promptly — immediately upon delivery or completion of the service, not weeks later. Also, a few days before an invoice is due, contact the client to make sure it has everything needed to pay you. 2. Meticulously track your outstanding A/R balances. One key step in reducing Average Days to Pay is tracking. Create an accounts receivable (A/R) aging report to track and measure the payment status of all your customers. Typically, an aging report breaks down accounts into length of time since invoices were issued: 0-30 days, 31-60 days, 61-90 days and past 90 days. Each account will list the business name and how much is owed in each applicable timeframe. Creating and using a report like this will enable you to quickly, seamlessly check for potential problems so you immediately know when someone’s slow to pay — and then determine your best course of action. 3. Be proactive about getting payments. Believe it or not, your clients are less likely to pay you the longer their invoices are outstanding. In other words, the longer they go without paying, the less likely they are to ever pay. Don’t wait until payments are far past due to contact your clients. A week before the due date, send clients a friendly alert. Soon after the bill is due, start contacting them with gentle reminders that payment needs to be made. 4. Encourage advance payments. Whether you require a retainer on projects or request an advance, finding ways to get clients to pay something upfront can make a huge difference in your business cash flow. Advance payments greatly improve cash flow, as well as reduce your exposure to late or uncollectable receivables — giving you peace of mind as well as a more solid financial foundation. 5. Provide an early payment discount. While you may not want to discount your invoices, consider this: If a two percent discount gets you payment, that’s 98 percent more than you’d have gotten while you were waiting for a client to pay its bill. Try giving clients a small discount if they pay within 10 days, for example. In exchange for the small decrease, you might boost your overall cash flow. 6. Accept multiple payment options. Make it easier for your clients to pay you by accepting a variety of payment options, including checks, credit cards, PayPal and other online payment solutions. You may even want to suggest automatic payments for recurring clients to simplify and automate the billing process — something that may be very appealing to your clients. 7. Know when to enlist collection agencies. Most companies don’t want to resort to unleashing collection agencies on their clients, especially when they’re trying to maintain good relationships with them. In situations where accounts are severely delinquent, however, you may have no other choice. Research several options, look for a company that will deal professionally with you and your clients, and move forward confidently, knowing how important it is to get paid. Nobody enjoys the hassle of chasing down payments — yet knowing how to collect accounts receivable in a timely manner is essential to successful business. If you’re struggling with getting clients to pay on time, start implementing the tips above. It could make all the difference in your cash flow month to month. Author bio: Shanna Mallon is a copywriter for Straight North, a Chicago-based Internet marketing agency that specializes in B2B SEO, PPC, email marketing and web design. A freelance writer, Shanna has been creating online content professionally since 2007.

Punctuality vs. Performance: When Your Top Talent Routinely Shows Up Tardy

July 17, 2025 No Comments

Very few things are as frustrating as a brilliant employee who consistently arrives late.