Successful Business Expansion: Practical Strategies for Planning Profitable Growth

Robert W. Sexty is a professor of commerce and business administration
at the Memorial University of Newfoundland and the author of Canadian
Business: Issues and Stakeholders.

There are many “how to start a business” books on the market, but
very few on how to expand a business. The author, President and CEO of
Toronto-based Premdor Inc. (one of the world’s largest manufacturers
and distributors of wood doors), not only started a small business in
1983 but oversaw its growth to sales of more than $500 million in 1993.
The reckless growth of businesses in the 1980s has resulted in the
current trend toward downsizing and even failures. The current practice
is to stick to the enterprise’s

core business and to avoid diversification and ad hoc expansion. Orsino
argues that companies don’t fail because they grow—they fail because
they don’t plan for growth. His practical approach to planning for
successful expansion emphasizes financial planning. Strategies for
growth include expanding internally in existing markets, expanding into
other domestic markets, expanding through acquisitions and mergers, and
expanding abroad. Planning advice and strategies are illustrated with
descriptions of experiences at Premdor.

This is a practical resource book and planning guide for entrepreneurs
and managers whose enterprises are in growth stages.