Five Ways to Make Growth Simple
October 17th, 2016
Experiencing growing pains? All small businesses do- growth is inevitable; if you are not growing, you are not succeeding!
On the path to be bigger and better, there are lots of tips from the trade to try and ease the transition, also make growth a simple and effective part of your process.
1. Consider credit.
This may sound like conflicting advice, however, when attempting to jump up in the food chain, you must be prepared financially. During times of growth, consider business credit or loans, specific to your growth plans.
2. Build growth spurts into your business plan.
Granted you may need to adjust these accordingly as business can be unpredictable, but having plans in place, timeline and perhaps even some stockpiled cash for the transition will be the resources you need to stay on target.
3. Freak out, but do it in your head.
Having doubts? Unsure of the plan? Feeling like you can never make this happen? Resist the urge to share your hesitations with your team- your job as leader is to captain the ship, weathering all the storms brazenly and without fear. Fear is a parasite- do what you can to quell it before it spreads.
4. Prepare yourself for roadblocks, speed bumps and the word “no”.
During growth, you will be asking for a lot- from yourself, your employees, vendors, clients, etc. Be mentally prepared to gracefully navigate these potentially touchy times by always demonstrating tact, patience, and kindness.
5. Similar to number 4, prepare your team, vendors and clients for the transition ahead.
As you grow, it is imperative that you retain what you have- whether that be cash flow, employees, loyal clients, etc. After all, they are the reason you choose now as ‘the time’. Keep them informed on the process, the timeline, and how it will affect them at each stage.
No matter the industry, one thing can always be said about growth- it’s challenging. It will be a true testament to the business, your leadership, and your team. As with everything business related, solid planning will always build a good foundation for success.