Starting and growing a small business: fast & furious or slow & deliberate?

10 Mar 2006

Joel Welsh

Joel Welsh, Chief Community Officer, is also the CEO of a new startup company ... Showcase U. Joel shares behind the scenes key decisions being made in the "Birth of a Startup" and knocks it out of the park to provide his own entrepreneurial wisdom.

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Here’s the scenario … Your small business has just been blessed with an influx of capital. Cold hard cash. Maybe it came from friends & family or an angel investor or venture capital. Maybe you’ve just landed a big client that will provide you with financial resources you haven’t had up to this point. It’s enough money that you can pick up the pace of your business growth and really go for it – take your business to the next level – fast!

Here’s the question. Should you?

• Fast & Furious
• Slow & Deliberate

What’s the smartest business decision?

Yesterday’s blog and (many) comments from the StartupNation community were terrifically illuminating. One of the sidebars was a mention of the recently completed season of the BravoTV series Project Runway. The winner, Chloe Dao, received $100,000 to start or grow her fashion line. Chloe already has a small business in Houston, so her situation is exactly what we’re talking about here.

What should Chloe do?

My answer? I say, what’s your life plan? Chloe seems to be saying ‘give me my hometown of Houston where I can be near my mom & 7 sisters. I’ve done the high-paced Manhattan thing, it’s not for me‘.

What would you do with a large influx of cash to grow or start your dream business? Are you the fast & furious type or the slow & deliberate? Are both choices acceptable? If you’ve had this experience & made one of these choices, please let the community know how it went. Step up & be a mentor!

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