Pros
Write your elevator pitch. ... Set SMART goals. ... Do a SWOT analysis. ... Decide how you will measure your success. ... Determine your budget. .
Cons
shortage of cash - you may need to borrow money to meet expansion costs, eg buy new premises or equipment compromised quality - increasing your production output may lead to a decline in quality, which can lead to loss of customers or sales loss of control - as your business grows, you may need to delegate management duties or divide the workloads between different locations increased capital requirements - a larger business means a larger workforce, more facilities or equipment, and more investment increased staff turnover - for example, if staff are given extra work, their morale could drop, their productivity could decrease or they could leave your business
