If you’re reading this, you’ve likely put in the hard work and the time has come to expand your business. Congratulations! However, we all know the many sad stories about companies that grew too quickly or didn’t manage their expansion well and are no longer with us. Effectively managing growth is vital to your business’ continued success. Let’s examine at a few ideas to help you make that transition as stress-free as possible:
Ditch the Rent
Renting an office can burn a giant hole in your budget. Conversely, opting for a professional serviced offices can save you precious money as you’re building up your organization. In addition to costing a mere fraction of the price of purchasing or leasing and maintaining your own office space, but they also provide predictable overheads and offer all the amenities you require to operate effectively.
Most serviced offices provide a fully furnished office space for a specified number of team members, tastefully decorated, so you don’t feel like you’re stuck in a cube! Additionally, essential features such as gym access, kitchen facilities and cleaning are covered in your rental price!
Managing the Workforce
Richard Branson once said: ‘Take care of your employees, and they’ll take care of your business.” As your firm grows, it’s important to make sure you’re not neglecting your staff while on the hunt for more significant opportunities. Establishing an open dialogue and an environment in which staff feel comfortable discussing potential issues is a crucial part of creating a healthy work environment. Nothing is worse than not feeling heard. One common complaint is a lack of upskilling or career progression opportunities in smaller companies. There are numerous strategies that you can employ to ensure that your team feel that they have room to grow.
You’ve heard the phrase ‘there’s an app for that’, right? The software market is awash with outstanding programs and applications that can take many of the most labor-intensive tasks off your hands. For example, bookkeeping, sales lead management, document storage and a host of other functions can all be streamlined using reputable software solutions.
Data storage can be an expensive, resource-heavy undertaking. Fortunately, the advent of Cloud computing has allowed companies large and small to store their precious, sensitive data in a highly secure, virtual environment. Everything you need can be accessed from anywhere with an internet connection, making it convenient and flexible.
Website and Marketing Management
As a business owner, it is a challenge to find the time to manage your online presence. A reputable web agency can take care of this side of things for you in a way that emphasizes your venture’s unique voice and proactively drives client engagement. Your website is your 24/7/365 salesperson and deserves the attention and investment that it requires.
Finding yourself with less time for taking non-urgent phone calls? Don’t want to deal with that pesky client that wants to have a lengthy conversation? Utilizing a virtual assistant may be one of the best decisions you can make. In addition to call answering, forwarding and message-taking, many VAs can also perform basic bookkeeping, organisational and other tasks. Imagine all the time you’ll have to work on maintaining your business now that you have someone taking care of some of the administration duties!
Growing your business is a monumental undertaking but if you take your time and go about it the right way the rewards are well worth it. Review these tips and consider which could help you move into the future with less stress and more profit!