You’ve worked hard to get your little company to a good place and you don’t want to just stay there. You want to expand your reach. Small business growth, however, can be tricky. Keeping hold of the reins, while maintaining that steady expansion takes a deft hand and some basic know-how. The following are just a handful of simple tips to help you manage that process.
1. Be Prepared To Grow
When you launched your company your goal was to succeed. While your business plan may have outlined metrics of what that growth might look like, actively preparing for it was a more holistic approach. Be proactive about next steps before they happen so you can manage them appropriately without losing your grip on them.
2. Get Your Quality Control In Order
It’s easy to lose sight of maintaining quality standards when your company is rapidly expanding. Remember, it’s not only how you’ve presented yourself to your customers, but what you offer that led to your success. If you don’t already have one, put together a team to have oversight over your internal systems, product development, manufacturing, etc. The type of quality control needed to succeed is different for each business, so gear yours to what suits you and your standards best.
3. Stay On Top Of The Bottom Line
Your profits may look amazing, but if you see a disconnection with the cost of doing business you’ll want to keep an eye on that increase. There’s always a little risk when moving forward, but you don’t want to find yourself outspending what you can afford to get to the next level. Keep your eye on the numbers and follow them accordingly. This actually leads us right into step number 4.
4. Make Adjustments For Growth
Keep an open mind to those areas that may need to decrease while being mindful of where you truly do need to expand. For example, to create a more efficient team you may need to add more managers, but lose performance reviews. Or maybe you lose sending out paper memos, but add smart tablets. Making the most effective shift needed to help you manage your growth will help you to stay relevant and efficient.
5. Form A Great Support Team
You’ve heard the phrase “you are only as strong as your weakest link”. Allow your team members to play to their strengths and reward them for it. In turn, they will reward you with incredible results and make the base upon which you are growing that much more solid.
6. Remember Your Customers
Don’t forget that ultimately the reason your business is growing is because of your customers. It is imperative to keep their needs and desires in mind as you move forward. You can also include them as you expand. Take in their comments, listen to their thoughts and consider their suggestions. There are plenty of cautionary tales of small companies that lost sight of these essential assets and went out of business because of it. Keeping your client base at the forefront of your strategy through every revision, expansion and step forward will keep you connected and ensure you gain even more fans.
As your business grows, you will want to ensure that it does so successfully. Thrive Internet Marketing can work with you to create and implement an effective digital marketing plan, complementing your organization’s growth strategy. We will help you determine which elements and services may be crucial to take your company to the next level. Contact our team today for a consultation!