Chapter 10
Managing Growth
The Search for Solutions
There is an old adage that says, “When you stop growing, you start dying.” Caught in a recent low-growth cycle, advisors are seeking new ways to raise the top line. They are pushing a lot of different buttons and pulling a lot of different levers in the process.
Some are pursuing mergers and acquisitions. Others are exploring new lines of business. Many are adding capacity, meaning new advisors and staff. And yet others are exploring the opening of another office in a different location.
The hidden risk in trying to grow beyond one's core is that unmanaged growth can be as dangerous to an enterprise as no growth at all. More businesses go bankrupt in their growth phase than in any other phase. ...
