Enterprise - Building a business

Our next area of focus is on the expansion of a business.

Whether a business has only just started up or has already made a million, at least one eye should always be cast towards scalability.

Companies can grow organically or externally, and expansion can change dramatically with a merger, acquisition or takeover. There are lots of directions that a business can move in, integrating horizontally, vertically, forwards vertically or backwards vertically.

Such expansion might put a business in a stronger position to gain more market share and thorough competitor analysis and a market map may help produce a stronger positioning.

All of which will put a company into a better position to gain investment, be it from a business angel (a Dragon, in fact) or venture capitalist looking for a return on investment for the financial equity they have bought.

But be sure to have your company valuation correct and your assets in order, or your exit strategy might be needed sooner than you'd wish.

Next: Who owns the copyright, and are your money making ideas securely patented? Read up on intellectual property.