You should verify that your company is addressing an important issue and providing a product that people want before attempting to expand, Karl Stark and Bill Stewart of Avondale write. If you're ready to grow, you should attempt to reduce "payback time" -- the amount of time it takes for you to recoup your capital investments. "By accelerating paybacks, a start-up can reduce the number and size of capital investments it requires, allowing the entrepreneurs to retain more of the value created by the startup," they write.

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