So you’re thinking of contacting General Insurance Agency and seeing if they can connect your St Clovis, NM business with a commercial insurance policy as you expand.
But… are you sure the time is right?
The tricky thing about expanding your business is you do have to strike while the iron is hot, but if you jump the gun and try to grow too early, you may wind up overextending yourself and spending a bunch of money for nothing. Here are a few questions to consider before you branch out:
- Can you afford a failure? You don’t want to bet it all on black. If you’re thinking of buying up a second location for your restaurant or moving your home-office software development firm into a building to house some new employees, you have to make sure that it’s not only in the budget, but that you can eat the costs if it turns out to be a wasted effort.
- Does the market need you to be bigger than you are? If your product or service is a niche market, then there might be nothing to gained by branching out except for a few more bills to pay each month.
- Have you mastered delineation? The great thing about a small business is you can run it solo. Once you start expanding, you’re going to be hiring middle-management people, so you need to make sure you know how to delineate tasks among them.
If you feel the time is right, then it may well be. The commercial policy General Insurance Agency connects you with will be one of the more affordable new costs as you expand, just cover your bases before you decide it’s time for your St Clovis, NM business to grow.