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Managing a Growing Business By Dan Carlo M. Collado “There comes a time in the life of a growing business when you, as its founder and top manager, realize the company has taken on a momentum of its own. You influence it, certainly, but more and more you are swept by it.” – John Peterman Before looking at how an entrepreneur manages a growing business, it is first important to understand that as companies mature, they go through different stages and that in each stage,the entrepreneur will experience different problems. Thus an entrepreneur MUST be ready with the proper knowledge and skills to address these problems. The growing stage of an entrepreneurial firm may be divided into two. These are the early and later growth stages. In the early stage, the business may have a tendency to over-commit its capabilities because it is sales driven as opposed to being profitable. In the later stage, the company becomes more focused creating its own vision of the future where emphasis is on profitability of each endeavor and not simply closing sales. To address these challenges, an entrepreneur must be aware of how to manage the growth without being entrenched in the workload that he has been accustomed to during the startup. Financial resources may also have to be reviewed as previous structures may not be able to cope with expansion demands. And as changes are continually being implemented, the entrepreneur must be able to monitor the improvements and downfalls of the new direction the organization is going through. Thus, during these crucial stages, an entrepreneur must focus his attention on the following three aspects of his business: People &n ...