Dramatic growth can occur for lots of reasons. Your new business is among the 10% and is being rapidly embraced by your clients, or maybe you’ve merged with another company and the joint skills or merchandise of your company are skyrocketing your sales.
Irrespective of how your growth spurt began, you are going to be facing new challenges trying to keep things under control so here is 5 Tips To Handle A Fast Growing Business.
Create Policies and Procedures
Among the best things you can do for a fast growing business (or even a slow one for that matter) is produce policies and procedures. We are not talking about developing a plan for every small thing but more of a guide or manual so that you could bring new employees up to speed fast.
Having processes in place makes training new employees much quicker and ensures all employees are learning the same thing. Keeping everyone on the same page throughout business growth is vital because your time will be getting consumed dealing with different matters.
Get the Right Systems in Place
It makes all the difference to have the appropriate systems in place during rapid growth. Be certain you’re using a line of business application is effective for your organization. Do you schedule workers? Do you go on site to customers businesses? Can you provide support tickets to clients?
Look at how you operate your business and be certain that you get software that has the necessary qualities to make your organization run efficiently. You don’t need to be messing about with multiple software packages and cloud products slowing down employees productivity.
Ultimately you will need one solution that meets all of your needs. Wishful thinking I know, but be sure that you do a whole lot of research in this field as shifting the street is obviously much harder.
Yeah I know this is a broad statement. I can’t stress enough however the value of keeping things organized in a fast growing workplace. This includes simple things like your work place. Making sure that everything has a place and areas are kept clean and tidy.
In case you’ve got a frequent area on your company like a static section, make certain that this is very well laid out and organized. Make things simple to find on your own and staff and keep supplies stocked.
Keeping things organized makes for greater efficiency. There is nothing quite as frustrating as being in a rush and being unable to get what you want quickly.
Hire Great People and Pay Them Well
I understand as business owners we are all trying to save money everywhere we could. Do yourself a favor and DON’T attempt to save on the folks which will help run your business with you.
I am not talking about paying the janitor $200k annually, however, the key players in your business have to feel appreciated, as though they are paid well and feel precious. This is where I get people telling me it is not always money which makes people feel like precious members of the group. There of course is truth to this but simply put, non-monetary reimbursement just does not cover the bills.
Always remember the people who help you and your business grow to what it is now. Superior work is hard to discover and you don’t need to be in a situation where you are trying to cheap out with a worker that has helped you build your business and endure your growth spurt. Do whatever you’ve got to do, get rid of everything you’ve got to remove before you allow valuable team members depart.
Maintain a Strict Work Program
As a small business owner myself I know firsthand the amount of hats you will need to wear and the time you need to spend creating your business function. The issue is if you do not place your working hours, people like us will never stop working.
Accept the fact that in a growing business there’ll ALWAYS be things you can work on, enhance, tweak, reconstruct etc.. Should you ever do actually finish all you will need to do then be worried because a growing business has a never ending amount of jobs.
Bear in mind the other important things in life like family, exercise, relaxing, socializing. You may feel these things take you away from what’s most important, building a successful business so that you can do all those things later perfect?
Part of owning and developing a business is the experience of it. Enjoy the ride while it’s happening. Don’t feel you will need to get everything done in a day or a week, or a month. It is all part of the learning process and attempting to accomplish everything too fast will just burn you out and cause endless frustration. Take a look at my post on work life balance for more insight on this region.