While the expansion stage offers numerous opportunities, it also presents several challenges:
1. Resource Management: Managing the increased demand for resources, including human capital, financial resources, and infrastructure. 2. Operational Complexity: Scaling operations can lead to increased complexity in processes and workflows. 3. Market Risks: Entering new markets or expanding product lines can expose the business to new risks and competition. 4. Maintaining Culture: Ensuring that the company culture is preserved while growing rapidly. 5. Regulatory Compliance: Navigating different regulatory landscapes, especially in new markets.