If you’ve had a good year or two in business, you may be considering your growth for the next few quarters. There is, of course, much to consider. From a one-person start-up to a fully fledged and competitive business could be quite a long journey. It’s important to plan and prepare for the hiccups you may encounter on the way. Without full consideration for the future, you may struggle to make it.
The more investment you plow into your business, the greater the risk. You can become vulnerable. But growth cannot happen without you letting go of the reins a little. After a successful year or two, it is important to develop your business. You may need to take on more staff so you can fulfill more orders. Or you may need to develop new business partnerships to expand your product offering. Detail where you want to take your business in the next six months. What will that require of you?
One of the first essential preparations you need to make is for your IT infrastructure. Without a good online presence, your business cannot compete effectively. Find a company like Continuous Networks that guarantees the uptime your customers expect. If your website has spikes in visitor numbers on the weekends or during the holidays, you cannot afford to risk your IT with a part time company.
If you ready to take on staff, you will need someone to manage the HR side of things. This may be outsourced, reducing your risk. But this can be expensive. In the short term, while you are trying to find the right person and the best tasks to hand them, outsourcing or temping could be ideal. Prepare your business for steady growth, rather than jumping into dramatic overnight changes.
As you start hiring people, you may also need to consider new business premises. This can be very expensive, and usually involves a long lease. It is essential you prepare for this inevitable move. Sound out realtors in the local area. Are there any short term lets with options? Can you share an office with another company? Perhaps you can find an innovation center with facilities like a reception? These premises are often a good opportunity to network with similarly sized businesses.
Customer relationships are essential to consider. As you increase the number of clients or customers, your responsibility to them continues to grow. Managing the customer service side of your business may be tricky for you to do if you are out winning new business. Consider automated processes like emails to help you stay in touch with your customers. CRM is an essential part of any company’s marketing strategy. Prepare to develop a program that will ensure repeat custom.
The growth of any business is dependent on the person managing it. Preparing for what will come next will make each transition, or part of the journey, a smoother process. Plan ahead to be sure you can cope with the inevitable changes. It could also be the way forward for winning additional investment.
Be the first to comment