Think Strategy not just Growth – while growing a business is beneficial in many ways including potential cost savings/economies of scale, more profit, ability to enter new markets, attract better staff think about how to get there versus just the end goal. In other words make sure you are putting in place all the strategies such as solid marketing plan, quality staff, product delivery systems etc needed as a base to grow your business. Focus on the process and the growth will stem from that rather than picking an arbitrary end number and just hoping to get there.

Don’t confuse your strengths with providing a competitive advantage. While in any facet of life and especially business it is important to play on your strengths and use them to guide your core business. But because you have strengths in certain areas it does not mean you have competitive advantage. Most companies with similar strengths will be seen as comparable to your customers/investors therefore continue to look to do something different than your competition to set you apart.