Building a successful business that lasts for decades is no easy feat. Only about 25% of new companies make it to their 15th anniversary.

But if you’re bold enough to start your own company, expanding a business is another opportunity you can seize. Just prepare yourself to take on a lot of responsibility, especially if you’re growing a business that’s still fairly new.

You’ll need to think about your company’s financial standing and how it can improve the way it operates. Once you’ve made the right business decisions, your company’s profitability will skyrocket. Here are eight tips that will make expanding your business a little less challenging. Continue reading →