Is Your Business Set-up for Growth?

Angela McDonald • 14/06/2018

Every entrepreneur wants to create the next great product or globally renowned brand. However, everything, even the most well-known companies started small. Success does not happen overnight, it takes careful planning.

Working smarter will always win

As many entrepreneurs will understand, starting a business is not easy and it is often time-consuming. It can be easy to get carried away wearing all the hats. However, this can lead to fixating on the day-to-day issues instead of growth.

This may be sustainable in the short-term as the business is getting off its feet but it isn’t optimal. Eventually, in order to generate real growth, owners will need to learn to work smarter not harder. Typically, by learning to take a step back and delegate tasks to other people.

Not only will this improve the efficiency of the business but it will also allow you to refocus on what’s important – Growing the company.

Who are you hiring?

A huge component of learning to work smarter and not harder is the ability to delegate to other trusted individuals. You will only be able to grow a business so far by yourself, eventually, you will need to hire others.

It’s important you take time to hire individuals that will be able to manage key aspects of the business. Ideally, these individuals will be committed and passionate all-rounders who are able to help create growth.

Along with hiring key people to help with the businesses growth, outsourcing day-to-day tasks or a critical department that you are unable to fill locally will do wonders for the businesses growth and future prospects.

To make this process smoother, it is wise to have your staffing strategy built into your business plan or at least have a rough idea of your ideal workforce early on. Making finding these people a lot easier and allowing you to get back to work.

You’ve hired them, now keep them happy

Now you’ve found the right staff that are willing and able to grow your business, your attention should turn to how you’ll keep them long-term and motivated.

It may be the case that the business simply isn’t in a position to offer more in the way of financial benefits, however, get creative and find other incentives. Chances are, that if your core staff have stuck with you through hard times, they are motivated by more than just a paycheck.

Find ways to facilitate their professional development, if there is a training course or a new program that will make their job easier, make it available. It could be as simple as outlining the future growth and opportunities within the company available to them.

As your company continues to grow and employee numbers begin to rise, granting key staff leadership roles is another great way to motivate and foster a commitment to the cause.

It is important to remember that motivated and committed employees are effective employees. Simple acts that show trust and transparency are just as valuable as an increase in wages or a nice bonus.

Always think big

When you first envisioned your company, what did success look like? Then as you were crafting and moulding a business plan what were your goals and mission, and how were you going to get there?

Essentially, the first step to effectively scaling your business for success is to have growth built in from day one! It is well documented that a lot of start-ups fail within the first five-years. This is mostly due to poor planning.

As a business owner, it is critical to constantly be on the lookout for what is next? What’s your next great offering? What do your customers want? Is it time to pivot?

Understanding the environment you are in and having a concrete plan for how you want to operate and grow will go a long way to ensuring success.

Listen to your customers

If you are looking for a clear gauge of whether your business is succeeding and if it’s time to grow, ask your core customer base. As they are the ones who are using your products or services and engaging with your brand, their feedback is invaluable.

If they are screaming for your products or service, it is time to start growing. Take stock of your operations, and have a clear understanding of how you will grow to satisfy the increased demand.

Ultimately, growing a business is an exciting but demanding process. Many Australian and New Zealand business are beginning to discover how effective outsourcing can help them grow and reach their full potential.

At Deployed, we specialise in helping growing businesses reach their goals. Whether it is creating specialised teams or providing advice and guidance we want to help your business succeed. To find out how we can help, contact us today.