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5 Tips To Manage A Fast Growing Business

Dramatic growth can happen for a number of reasons. Your new business is one of the 10% and is being rapidly adopted by your customers, or perhaps you’ve merged with another company and the combined skills or products of your new company are skyrocketing your sales.

Regardless of how your growth spurt started, you’ll be facing new challenges trying to keep things under control so here’s 5 Tips To Manage A Fast Growing Business.

Create Policies and Procedures

One of the best things you can do for a fast growing business (or even a slow one for that matter) is create policies and procedures. We’re not talking about creating a plan for every little thing but more of a manual or guide so that you can bring new staff up to speed quickly.

Having procedures in place makes training new staff much faster and ensures all staff are learning the same thing. Keeping everyone on the same page during company growth is essential because your time will be getting eaten up dealing with other matters.

Get the Right Systems in Place

It makes all the difference to have the correct systems in place during rapid growth. Make sure you’re using a line of business application that works for your company. Do you schedule employees? Do you go on-site to clients businesses? Do you provide support tickets to customers?

Look at the way you run your business and make sure you get software that has the necessary features to make your company run efficiently. You don’t want to be messing around with multiple software packages and cloud products slowing down staff productivity.

Ultimately you’ll want a single solution that meets all your needs. Wishful thinking I know, but make sure you do a lot of research in this area as changing down the road is always much harder.

Stay Organized

Yeah I know this is a broad statement. I cannot stress enough however the importance of keeping things organized in a rapidly growing workplace. This includes simple things like your work area. Making sure everything has a spot and areas are kept clean and tidy.

If you have a common area in your company like a stationary section, make sure this is very well laid out and organized. Make things easy to find for yourself and staff and keep supplies stocked.

Keeping things organized makes for greater efficiency. There’s nothing quite as frustrating as being in a hurry and not being able to find what you need quickly.

Hire Good People and Pay Them Well

I know as business owners we’re all trying to save money everywhere we can. Do yourself a favor and DON’T try to save on the people that are going to help run your business with you.

I’m not talking about paying the janitor $200k a year, but the key players in your business need to feel appreciated, like they are paid well and feel valuable. Here’s where I get people telling me it’s not always money that makes people feel like valuable members of the team. There of course is truth to this but simply put, non-monetary reimbursement just doesn’t pay the bills.

Always remember the ones who help you and your business grow to what it is today. Good work is hard to find and you don’t want to be in a position where you’re trying to cheap out with an employee that’s helped you build your business and survive your growth spurt. Do whatever you have to do, get rid of whatever you have to get rid of before you let valuable team members leave.

Keep a Strict Work Schedule

As a small business owner myself I know first hand the number of hats you need to wear and the time you have to spend making your business function. The problem is if you don’t set your working hours, people like us will just never stop working.

Accept the fact that in a growing business there will ALWAYS be things you can work on, improve, tweak, rebuild etc. If you ever do actually finish everything you need to do then be worried because a growing business has a never ending amount of tasks.

Remember the other important things in life like family, exercise, relaxing, socializing. You may feel these things take you away from what is most important, building a successful business so you can do all those things later right?

Part of owning and growing a business is the adventure of it. Enjoy the ride while it’s happening. Don’t feel you need to get everything done in a day or a week, or a month. It’s all part of the learning process and trying to accomplish everything too quickly will only burn you out and cause endless frustration. Check out my article on work life balance for more insight on this area.

How Will My Small Business Benefit by Having a Website?

Overview

Running a small business takes a lot of work. Every small business owner would like to see their business in the best position to grow. One of the surest ways to invest in your small business is to have a website. There are still a lot of businesses that do not have a website for their customers. In today’s online world people expect to be able to do an online search and find your business, products & services there. If you want to take steps to improve your small business, this is one essential place to start. Here are a some benefits for your small business having a website.

Brand Recognition

The vast majority of customers today use the internet when they are searching for the product or service they need. By owning your own website, you will be able to extend the overall presence of your business, being both offline and online. There are a lot of small businesses that do a lot of their marketing online. Not only does this save money, but consumer studies show that this is more effective as well, since your potential customer is already online using their mobile device to search for you. Your website can provide all the information about your business, products and services you provide, how they can contact you, maybe even shop online for your products 24/7, you can offer helpful information, tips and hints and you can provide photos of your business, team, products and testimonials from happy customers. Your website is your representing your brand online.

More Traffic

Customers need to know that your business has a product or service to sell. Many customers are searching for quality products and services at a great price. However, it will be very hard to find your business if you don’t have a website. Building a quality website will drive traffic over time automatically to your website. This increases the amount of people who see the products or services that your small business offers. Always take the time to build a quality website, with quality information, in order to build up your web traffic.

Higher Profits

There are few things as impactful in marketing in today’s world as having a website. If you want higher profits in your business, it is important to invest in a website that will drive customers to sign up for your newsletter, call you for a quote, buy your products direct from your online store or call you for more information about the services you offer. Over a period of time, this will lead to higher profits in your business. Every small business owner wants to increase profits in their business over the long-term. Dollars spent investing in a quality website that is customer friendly will yield many more dollars for the business in the future. All small business owners must think about the long-term trajectory and vision of their business and seriously consider investing in a website.

Final Thoughts

There are many small businesses today that do not have a website. They either do not understand the importance of owning their own website and the benefits to their business or they think they do not have the money to invest in one. A good question to consider is what money are they losing to their competitors (who are online)?

The good news is that this is now easier than ever before to get a website. There are hundreds of web designers ready and able to build a quality website, most likely several right there in the area where they live. Anyone worried about building or coding a site can simply hire someone to do so. The price of building a website has gone down drastically in recent years.

Investing in a website will do several things for your business. Not only will it increase your brand recognition in the marketplace, but over time it will also drive traffic leading to potential increased sales, ultimately yielding higher profits for the business.

The Business Mind Conflict, in the Age of Responsive Marketing

When determining what is the best direction for a business to go, sometimes people cut corners to try and reach their destination. This may be from the amount of sales people they hire, to the online presence they have for their company. It is easy to say I am happy with what I have to get my message across, all while your competition evolves. Within the age of technology and social media influences, now is the time to keep people engaged with your products and service you provide.

One of the biggest changes is the overall use of Smartphones and Tablets to conduct daily tasks. Many businesses are stuck in the dinosaur code age, while those that have gone to a more responsive platform, are reaching people across the globe. A word of mouth referral is great, however a business with a more user friendly platform will start capturing your prospective clients. Businesses need to ensure that they can target the mobile market and their website will not cause people to bounce and go somewhere else. People have about a 2 second attention spam when they first go to a site and if a business does not offer an engaging platform, they are gone in literally a second.

Just like when someone gets engaged to marry someone in life, they are making a commitment to move forward with that person. If a business gets people engaged with their website, then it is easier for them to make a commitment to what you have to offer. Overall a business is a direct reflection of that business owner. Do you want to look cheap with what you have to offer, or do you want people to see that you really have passion and purpose for what you provide. This all comes down to how one engages their prospective buyers and without being able to reach them on all platforms, a business has decided that they are not worth peoples time.

One misconception is the fact that some cannot afford to make changes in their business. By not having a responsive website that is engaging for people, businesses are losing about 35-37 percent annual revenue to their company. About 50 percent of people use their smartphones or tablets before purchasing a product or service. A company can be 50 Percent of a company, or with one little change, can be a 100 percent of a company. One may have the best product or service in the world, but they are not being found, because they are not optimized for portable devices. Businesses are losing clients to an inferior product or service, just because they have not caught up to the latest technology. Without risk there is no reward, however that risk is usually telling ones mind that they cannot afford to make changes, when everyone around them is progressing.

In the end some people are going to stick with what they are doing and limit their growth of their company. Many are going to take a positive step to reach more clients and reap the rewards. Ones mind is a terrible thing to use, if at a subconscious level, one is sabotaging their overall progression. Negative influences and media can keep a person or company down that they will not succeed, however people do not get into business to fail. A business is completely responsible for what they offer and how they offer it and by not stepping into the current age of technology and marketing, they only have themselves to blame. You now have that opportunity for people to succeed and take control of their market, but it is up to the company or owner to give themselves permission to do so.