Fifteen Tips To Keep Your Company Growing
| August 13, 2008 |  View for printing |
It was 20 years ago, but David Guernsey still remembers that pit in his stomach.
Guernsey aimed to take his Guernsey Office Products--a retail office-furniture business in Chantilly, Va., then with three locations and $5 million in annual revenues--to the next level. Rather than target other small businesses, he wanted to go after larger fish. His new strategy: store inventory in one massive location and move product via the Web.
Guernsey dug deep, borrowing $8 million, mostly from banks, to cover the cost of extra storage space, delivery vans, tractors-trailers and technology infrastructure. "What I borrowed far exceeded my net worth," he admits. "It was scary, but we needed a new level of sophistication to serve larger customers in order to grow."
Maureen Farrell and Mary Crane
Full Story: http://www.forbes.com/entrepreneurs/ ... thtips.html 
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