Q. How do you manage
growth?
You’ve just got to get in
there and get it done. You
have to staff up and get in
and get the work done. It’s
always a concern to say,
‘Let’s take as much as we
can take,’ but a lot of times,
that can cause you problems. There are times you
have to just come around
and say, ‘Boy, that would
be a nice job, but we can’t
do it.’
If you’re trying to grow a
company and grow it quickly, look into different areas
such as new or niche markets within an existing market. Spread yourself out.
But make sure you look to
your goals and resources to
determine what is attainable.
At the same time, spreading yourself out doesn’t
mean spreading yourself too
thin. Don’t try to bite off
more than you can chew.
Q. You said that taking
risks can sometimes result
in mistakes. How do you
overcome those and use them
as a lesson for future growth?
Look before you jump,
make sure you understand
what you’re jumping into,
and make sure you understand the market. A couple
of the businesses that we
got into that didn’t work
out well, I don’t think we
understood that market.
If you look at what the
market is and understand it
… these other businesses we
had problems with were not
related back to what our key
business is … so we understand that market and that
industry.
Sometimes, people think
because they do one thing —
‘I was great at this business; I can do anything’ — and
then they get off and into
something that they don’t
understand the business, and
the next thing you know
they’re in trouble.
HOW TO REACH: Marine Group Boat Works, (619) 427-6767 or www.marinegroupbw.com
