Skills for Business Growth, Expansion

Video from our FREE Online Business Course
http://www.myownbusiness.org
Session 13 Expanding and Handling Problems

Question:
"What hurdles do people face in growing a business?"

Phil Holland
Founder, My Own Business

Topics covered in this video:
Business growth, expansion, management, employees, delegation

Transcript:
One thing you have to remember in growing a business is that as you grow you are going to need management skills that are not required when you first began. For example, when I was running the first Yum Yum donut shop, clearly I had to know how to run a donut shop. But as we grew and built additional stores, the need for entirely new sets of management requirements arose. For one thing it required real estate negotiating skills. It required legal help with respect to leases. It required knowing how to delegate authority because you can't be in multiple locations at one time. One good way of learning delegation techniques is to go to work for a large company which is in the same business that you intend to start and you can pick up a lot of do's and don'ts that they have learned the hard way that you don't have to learn by trial and error.

Category:

Education

Tags:

• Start
• starting
• business
• expanding
• expansion
• grows
• growth
• pilot
• problems
• motivate
• employees
• managers
• incentives
• profit
• centers
• planning
• finance
• delegation
• management