The first part of the book, on developing a growth strategy for your company, includes chapters on defining your growth objectives, comparing internal vs. external growth strategies, and planning for business growth. Early in this section, Sherman warns executives about the common myths of corporate growth, which include the following:
- You must be first to market to win the game. "This is often wrong, wrong, wrong," writes Sherman. Many companies now recognize that "best beats first."
- Growth is the result of a conscious choice. Product success or industry demands can force growth on a company before it is prepared to handle it. The result can be disastrous.
- Growth is fun. It can be. It can also take a heavy emotionaltoll on executives and entrepreneurs and can wreak havoc on people’s private lives.
- If you really want to grow, then follow the path of your larger competitors. "A small company is not a little big company," Sherman writes. Management structures, distribution channels, access to resources and many other features of the small company differ from big companies; the growth strategy must be adapted accordingly.

In part two, Sherman focuses on the human side of business growth - how to recruit, motivate and compensate the employees and managers that will drive your company’s growth. This section also includes an in-depth look at the legal challenges facing employers today. Sherman also offers guidelines for establishing a board of directors and an advisory board, as well as tips for hiring outside advisors.
After covering the capital requirements, Sherman lays out and explores various internal growth strategies (through mergers and acquisitions, e-commerce and international expansion) and external-growth strategies (by leveraging your intellectual growth, developing franchises, finding licensing and merchandising opportunities or building strategic alliances). A section on managing the challenges of growth - including litigation planning and anticipating anti-trust compliance issues in case of hyperfast growth - closes out this excellent primer.Copyright (c) 2002 Soundview Executive Book Summaries