Are you planning to take your business to the next level? Before you start growing your company, you need to ensure that your organizational structure is prepped for this major shift. Don’t just jump in head first – make sure you follow our key prep tips to keep your growth sustainable and successful.
3 top tips to prepare your organization for growth
Examine the current status of your organization: Start by determining exactly what you need to do as an organization in order to grow. Do you have the existing internal capacity and resources to facilitate your changes, or do you need to make larger, wide-spread adjustments? You might not currently have the right people with the necessary skills to make your desired changes happen, and if so, you’ll need to figure out what steps you’ll need to take to achieve your goals.
Make sure your clients are still receiving the best experience: One of the most common mistakes that businesses make when they’re growing is that they don’t take the time to properly adjust their administrative structure and needs. This is the side of the business that owners try to “make do” with their existing structure, even though it usually requires more attention to keep the business running smoothly and to ensure that existing clients are happy. When growing your business, it’s essential that you make sure your current clients are still receiving an excellent experience. It costs much more, both from a financial and time perspective, to get a new client than it does to keep an old one, so you must ensure that you’re still meeting your current clients’ needs.
Business development should be a company-wide priority: Over the years, we’ve written many, many blogs on business development and for good reason – growing your business requires you to put in the time and effort in this area. But when you’re the owner of a small business, time spent on business development often falls by the wayside because you’re the only one focused on development. The most successful companies ensure that business development is a company-wide priority. For example, if you have field staff, you should provide them with sales training so that when they’re with a customer, they have the knowledge to potentially upsell a customer for additional services. Every member of your company who interacts with customers should have business development on their mind, not just the upper management.
Are you noticing seasonal variances in your cash flow? Don’t miss our next blog post where we’ll share tips on how you should adjust your forecasting based on past cash flow behaviour.