3 Tips To Realize Rapid Growth

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1. Mitigate risk by having a solid business plan

“Business is about taking calculated risks,” says Porcelli.

In the first weeks of his business, Porcelli spent more than 12 hours daily scenario testing and assessing potential revenue streams for his company.

“I looked at projections and tax implications, different scenarios and financial outlooks.”

By the time he launched his business, Porcelli was confident in his finances and his business model.

“I’m quite aggressive in terms of my forecasting, but conservative financially.”

2. Look beyond venture capital for financing

When Porcelli realized his potential investors didn’t meld with his vision for the company, he had to sit down and think about alternative ways to fund growth. With clients in place and a solid business plan, he approached BDC to get a business loan.

“I had to get comfortable with the idea of using debt to finance growth,” says Porcelli. His company grew more than 1,000% in the first six months.

3. Surround yourself with the right people

Like many entrepreneurs, Porcelli performed all the executive functions in his business for the first few years. Although he still works long hours, he’s learned to delegate and trust.

“You need to surround yourself with the most qualified people who can help you achieve your vision,” says Porcelli. “Bringing on a business partner and then an additional business partner in the newly created role as president, who is overseeing growth of our middle management has been so much better. You can’t take on everything all the time.”