Many small-business owners would like to grow their companies and find more customers for their products, but there are pitfalls to pursuing rapid growth, experts say. "Going too fast can kill you from a cash-flow standpoint," said Thom Ruhe of the Ewing Marion Kauffman Foundation. Business owners such as Daniel Lubetzky, founder of KIND Healthy Snacks, have embraced the slow approach. Lubetzky's business spent two years developing one of its products to make sure it had the right flavors and ingredients.

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