Business growth - scaling up your small business
Scaling up your business for business growth at first will inevitably feel daunting, but trust me we have all been there. The best advice I can give you is to encourage you to take a step back. Whilst we would all love to shoot for the stars we also need to be realistic. You can still be ambitious and I absolutely encourage that but don’t get carried away with the dream.
I have worked with a number of businesses who have scaled up and you usually find there are two types of businesses. Those who are too ambitious or those who aren’t ambitious enough. I realise this may seem conflicting but it’s about finding the right balance.
Business growth - Ambition for business growth
Those who are too ambitious often find themselves facing a constant uphill battle. Amongst other things, you will feel like you are constantly letting people down. So don’t be afraid to add time to your growth strategy in order for it to remain achievable. Another way to look at it is to consider your top areas of growth first. You can concentrate on these and bring in the other areas of growth at a later stage. This will help your goals become more achievable for your business growth. Things you can accomplish throughout the years bringing you closer and closer to the end result. Do you have the right skills for business growth or do your employees?
This is naturally at the forefront of most business owners' minds. But the truth is only the business owners themselves will know the skill-set they have within their business. I believe the skills you require for business growth are mostly mental. Ask yourself if this is really something you want to have for your business? Do you want to have a huge company at the end of this all and ultimately sell it? If your answer was yes to the latter question then that is the hardest question answered.
You are a leader so you are leading with confidence and understanding. It is likely in this case your employees will see you as a driving force to pushing the business forward. This is a great motivator for employees and the majority will want to be involved.
Do you have the right employees for business growth?
Speak with your potential employees, and get to know them. Do they have a personality you want to work with for years to come? This is important because you are going to be working with them, so you need to respect and like them!Are they on the same page as you - what I mean by this is are their values and ethics similar to yours? Once you have this information and understand them it will be much easier to see how they can help with your business growth strategy. Sadly I cannot give you an exact employee set of skills needed for business growth. Each industry is different and you will need to consider this. As a business owner myself, I look for loyalty, compassion and having a passion for the role they are in. To me, these are the three most important skills for my business growth.
Finding the right employees for business growth
If you are looking for employees that can deliver what your business needs you will need to ask very specific questions. It’s important to ask these in the interview process - seeing a CV won’t be enough. I am a strong believer that you can train anyone to do anything, but you cannot change someone’s personality.
Using automation for business growth
I am a huge fan of automating processes where you can. This can help you achieve smooth and efficient growth for your business. The right automation can help you accomplish more and save you time. Processes and structures are an essential part of business growth. So I suggest you take the time to really drill down to see what makes your business tick, and how these can be made into automated tasks. Examples of these include invoice chasing, quote creation, even customer service emails. Once you have considered the tasks that can be automated look at what needs to be handled by your staff.
There will inevitably still be some elements that need the human touch. Customer service, for example, maybe automated in terms of the journey of your client but your staff will be needed to help build rapport. Assuming customer service is part of your business growth strategy. As your business grows and expands, the processes and automations you have in place will enable you to continue to have a high level of service, without adding extra stresses to your business.
Stay tuned for next week's Part 2 on business growth. Are you ready to scale up and concentrate on business growth? If so myself and my team can offer invaluable advice and support so why not contact us today to arrange a consultation. If you are interested in seeing our latest business tips follows us on Instagram.
