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Ask These 4 Questions Before Expanding Into New MarketsBusiness expansion is a big step with many risks and rewards, so before making the leap, answer the following questions.
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If you're a venture-backed company, you're probably being told toget profitableand to do it quickly.
Although it might sound counterintuitive, the path to profitability for many business leaders could lie in expansion. Even duringchallenging economic times— with the consumer price index increasing6.5%at the end of 2022 from the prior year andinterest ratespredicted to continue to rise in 2023 — entrepreneurs continue to consider expansions into new markets and verticals. But how do you know if it's the right time to expand?
