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Grow or die! This is one of the laws of nature that applies to all living things. All business lives by this law as well. A business cannot begin, grow to a certain point and then simply remain at that point and continue to thrive.
Growth and expansion are necessary for the business to survive and if that growth and expansion do not happen then the business will fade and die or crash and burn.
Growth and expansion of business must be controlled by the business owners or managers. If growth is too slow, the business lags behind the competition. If growth is too fast, the business can easily become over extended.
A steady controlled growth is the ideal. Of course, the ideal and the reality are sometimes two very different things.
Sometimes the terms ‘growth and expansion’ are a bit misunderstood. The most obvious meaning of both terms is to get bigger and broader but those meanings are not the only ones that apply.
Growth, for example, can mean gaining knowledge and becoming wiser and expansion can mean broadening the knowledge base from which a company operates.