July 30, 2014

How to Handle Rapid Business Growth

Failure to bring in the business isn’t always the cause of a small to mid-size business’s troubles. Quick growth spurts are sometimes as deadly as a failure to grow at all. When customers are pouring in, business is good, and things look bright — take some time to examine this growth and protect your company from the unforeseen effects that sometimes come along with fast and furious success.

Plan Ahead

The most dangerous position to be in is scrambling for what you need right this minute. Careful planning assures you have what you need on hand, plus a bit extra in reserve. This goes for office supplies, as well as materials needed for production. Have regular meetings to plan for what needs to be in place as the business advances. A virtual assistant is useful for freeing up time in your schedule so you can stay on top of growth.

Keep Up Employee Communications

Fast growth means lots of changes in policies and procedures in a short time. If employees aren’t kept abreast of these changes, they can become frustrated and discouraged, and morale sinks. Keep employees excited about the growth, and all the changes associated with it, by informing them regularly about where the company is and where it’s headed.

Get Workers the Resources They Need

Another key point for keeping morale up is to supply workers with the tools to handle the increased workload. This might mean newer machines, faster computers, or better access to training. Whatever your employees need to handle the higher demands on their time, make sure it’s provided.

Outsource Jobs That Aren’t Mission Critical

Outsourcing can be a godsend to companies that can’t hire quickly enough to handle loads of new customers. Any job that isn’t mission critical — including accounting, incoming calls, legal services, secretarial work, and cleaning services — can be outsourced. This way, you aren’t faced with daunting head hunts for jobs that aren’t essential to the company’s survival. Plus, a call center can handle a far greater volume of calls than your production workers, without hindering the work process.

Managed properly, growth spurts are exciting for new businesses to face.