The Demands Of A Growing Business
/A growing business is one that can be hard to manage. In fact, all of the business owners who expected their business to take years to grow, when it is, in fact, growing in a matter of months, find it impossible to manage. All of the sudden you go from small finances that are easy to manage, and sales that are easy to track and handle because they are so few, to a business with a huge influx of customers that makes everything hard to track and handle. So, what you need to do is go into crisis mode, and figure out how all of the systems of your business are going to work together as one so that your business can flourish.
All you have to do is focus on the growth aspects of your business, how you can streamline them, and how you can promote your business. Because the last thing you want to do is focus on all of the changes you’re going to make, only to find that the influx of customers was temporary and you now go back to a lull. So, we’re going to try and help you with all of that, as well as feel secure with your own knowledge about business. The more you know, the more you grow! Keep on reading and we’ll talk you through what we think you should be doing.
Managing Sales & Production
Production and sales are something that’s going to flourish as soon as your business starts to have that influx of customers, and it can just be so hard to manage for a small business that isn’t used to being a business. But don’t worry, there are tons of tips that we can show you.
The first is hiring two people to work for you on a temporary basis. Freelance business analysts and advisors are essential for a business that is new to being on the market and really doesn’t have a clue what they’re doing. Because the one trend that’s happening at the minute is that business owners usually know their trade, but nothing about the intricate parts of running a business. These services are only going to benefit a business that hasn’t had experience being a business before other than the minor processes that are needed.
Hiring in people to give you good advice is always going to make you more comfortable with the decisions that you’re making. They can advise you on how to maximize your sales, and minimize the time and money spent on production as well as financial losses. A lot of it will come over time. You’ll need to find ways to streamline your production process. Whether you’re selling services or products, you will still have a production line that needs managing, and it can easily be done by focusing on the weak points and the areas that are taking the most time to complete. You can then use different techniques in a trial and error sort of fashion to see what you’ll end up with!
Inhouse Improvements
Running a business is going to take your inhouse life from being pretty casual, to pretty hectic. All of a sudden you have all of these orders and queries coming your way and it can be so hard to manage. We’re writing this assuming that you have your own office space. If not, then it might be time to seek out a small space for you to be able to run your business. Not only does it allow you to have that air of professionalism, but it’s far more practical for a growing business.
You then need to consider some of the improvements you can make to your office that will make it far easier to run. Lingo Communications Business VoIP might be one consideration you have. VoIP systems are so beneficial for any business, let alone one that’s growing at such a rapid rate. What it does is give you a system that’s connected throughout your business, preventing downtime and delays in internet speed, and allowing your phones to have the best connection. The one menial task that you’ll find yourself doing as a business owner is answering emails and phone calls. You’ll also find that office internet is absolutely shocking, so seeking out something such as what we have linked to could greatly improve the productivity of your office.
Even if there is just you in the room, it makes it far easier to expand and cope with the demands of your growing business. You should also think about the other equipment you’re using, such as your computers. Having a computer system that’s able to facilitate software that you need is important, and a good business will splash out the cash on an Apple Mac. As expensive as they may be, they look far more professional and modern for one, and they have a ton of capabilities that other computers don’t have.
Do You Need To Hire?
Hiring is one of the things that you might need to do far sooner than you thought you were going to have to do. The process of hiring can be so intimidating for a small business, especially for a business owner who doesn’t really know what they’re doing. You can miss out on the key questions you need to ask, and you may even cross the line towards inappropriateness without even meaning to with the questions that you ask, which is why we think it’s important that you stick to the basics.
The first is to make them relaxed as soon as they come in. Perhaps say that you’re just as nervous as they, or tell them to take a breath and relax because it will be a more chilled out interview. A chilled out interview-style attracts the right type of person. You’re allowing the candidate to relax in their natural way of being, rather than coming in with this forced behavior that would change as soon as they got comfortable within your company. Stick to asking questions about their likes and dislikes, goals, what they want from the company, and then give them all of the company information that you need.
To cover your back, you can hire HR services that are not in the house, but they will still support your business with any HR issues that may come up. You can then integrate them into your business and use it as a learning curve. Always make sure that you give ongoing support and training, and actually take the time to get to know them.
Promotion & Marketing
Promotion and marketing are something you’re going to become so used to doing. All of a sudden you’ll have everything on your shoulders, but the main thing you want to do is keep it there. Which is easily done through promotion and marketing. If you already have the influx of interest coming from somewhere, you must have been doing something right with a basic budget. So all you have to do is scale that to a bigger size and focus on the areas of promotion and marketing that are going to get the most attention.
For us, it’s simple techniques such as billboard marketing that you need to go for. You’ll still be a small fish in a big pond, so until you’re a bigger fish trying tactics such as SEO and PPC might not work well for you. But billboard marketing alongside Google Adwords, for example, might be the killer combination that your business needs for that extra boost of sales. Once you get a steady number of customers each month and your brand begins to grow, you can focus more on online marketing methods. Alongside this, we would always recommend that you use social media marketing to build your business a profile.
Financial Demands
The financial demands of your business are going to make a big difference in the way that you’re able to run your business. All of a sudden you’re not so much struggling for money, but struggling to manage the money and figuring out where it should be distributed. All we can say is to relax and take your time figuring it out.
Your first plan isn’t going to be your final plan, and you’ll often find that your financial plan has to be tweaked along the way so that you adapt to your business’s needs. The largest part of your distribution should be to production, then marketing, then whatever else is a priority within your business. Last should be your own pocket! Always make sure that you’re consulting a financial advisor before making any big decisions. Everything that you do with your budget is going to influence the way that you run your business.
Personal Demands
The personal demands seem to be what business owners seem to forget about. We’re so focused on our growing business that we don’t realize what it’s doing to our bodies and minds. Burnouts can happen pretty quickly, so make sure that you’re giving yourself time in the week to have personal time. To clear your mind and truly relax. It’s one of the best ways to keep your mind clear and focused is to switch off from work and forget about it all, even if it just be for 30 minutes a day whilst you’re on a run.