Understanding the growth progression
Maintain relationships with your funding sources
The faster you grow, the more cash you're likely to need. Growth financing is every bit as hard--if not harder--to obtain than startup funding. Do regular cash-flow projections so that you know how much credit you're going to need well before you have to start writing checks. Develop and maintain strong relationships with your funding sources and be sure to have primary and backup sources available. In today's financial climate, it's harder than ever to predict credit availability, so stay on top of your cash and financial needs to give yourself have plenty of room to maneuver when it's time to borrow.
Get comfortable being in the spotlight
Successful owners of growing companies are almost always in the spotlight to some degree--maybe not always to the general public but certainly within your industry and with your employees. Be prepared for a level of attention that you probably haven't received before.
Listen to the experts
You may be an expert in your business, but you don't know it all. What's more, there often will be experts who know more about particular parts of an industry than the insiders. Identify the experts, listen to them and learn from them. Let them help smooth out your learning curves and keep you on your growth track.
Focus on your core business and don't get distracted
Stick to the business your company knows best. Be sure any diversification or product line expansion you do makes sense. If it has nothing to do with your core business don't get into it just because it seems like a good opportunity. Otherwise, you'll you confuse your customers and your employees--and you'll likely find that dividing your efforts reduces the quality and profitability of everything.
Just as you plan for when things go wrong, also plan for when things go well. When you're prepared for growth, you better can manage the changes it brings and let it take you to the goal you set when you started.