Photo by Kelly Sikkema on Unsplash

It’s not easy for small businesses to achieve sustainable growth—especially in New York City, where new competitors are popping up all the time.

Members of Forbes New York Business Council share their key factors for building a steady stream of growth while keeping costs low.

Team Trust               

Business owners should trust that their team can do the routine jobs so they can focus on the next growth opportunities according to Maurice HararyThe Bid Lab.

Deep Market Saturation

It’s more important to saturate the current market than be available in multiple territories/states/countries. Let everyone around know about the business before moving outward. – Hoda MahmoodzadeganMolly’s Milk Truck + F’in Delicious Beverages

Clear Key Performance Indicators

Keeping track of key performance indicators allows a business to monitor for growth, stagnation, or worse, backsliding and adjust if the numbers are not lining up with the goal. – Steven LibmanIntegrity Capital Group

Cash-Generating Mechanisms

Cash needed to fund growth is not easy to come by if the business barely survives. Businesses need to identify and deploy mechanisms to generate that needed cash for product development, new hires, etc. to sustain growth. – Ching AuDurabrite, Inc

Hustle

Never stop out-hustling the competition from continuous improvement and competitive analysis to upgrading equipment and work ethic. –Don DaszkowskiInternational Franchise Professionals Group – IFPG

No Debt And Minimal Fixed Expenses

In the early days of a startup, funds are low. Business owners should stay out of debt while sustaining the business by working smart, marketing themselves and working extra hours without a fancy office. – Nic FaitosStarbright Floral Design

A ‘Big Hairy Audacious Goal’

Consider slow growth at first to solidify the business’s concept, processes and procedures and team. Then try adopting a Big Hairy Audacious Goal (BHAG) which motivates employees, forces them to get creative and aligns everyone in the company toward one big goal. – Josh CohenThe Junkluggers

Unit Economics

Business owners should dig into the details to understand how much the business profits from each unit sold, the costs of the product or service, customer acquisition and the delivery of the product or service they are selling. – Matt CooperSkillshare.com