Every business owner wants to see their organization grow, reach new heights, and bring in new levels of profit at the same time. However, the more a business grows, the more it must change. You can’t simply handle it as you used to when you first launched. You need to be able to handle the sprawl, scale, and inherent unwieldiness that comes with a growing business. Here are a few ways to do just that.
Take a bird’s eye view
When first starting your business, you might have been used to being one of the few people working on the front lines. You were dealing with clients and customers and getting your hands dirty with the delivery of your products and services. With a growing business, your responsibilities grow more numerous, and you don’t have as much time to do those things. You must transition from being in the trenches with the team to overseeing their work and taking a more strategic role. Taking a bird’s eye view can ensure you don’t start missing the forest for the trees. You will want to build a management team to support you.
Start building a management team
As your business and team grows, at first, you’re likely to transition into a more managerial role. But, as you hire more people than you’re able to manage alone, you may have to bring on a few managers to assist you. As you build your managerial team, consider what you are looking for so you will find managers that fit well with your vision and existing team. Having a good managerial team to support you will ensure you’re able to see to the needs of the team much more effectively and ensure there is a level of supervision in all sectors of the business.
Improve your software stack
Most businesses nowadays use digital technology and software to manage different elements of their business. This could include many of the day-to-day activities such as sales, inventory management, finances, and more. Many of these systems play into one another, but as the business grows, it can be difficult to tie the data from separate software systems together meaningfully. ERP software suites, such as those from Zoho Solutions, are designed to keep them all together more easily. For instance, your order tracking and inventory systems can rely on data from one another to make sure that both are accurate.
Know when to outsource
To keep costs down, you may have been taking on many of the business responsibilities internally. While this may often appear to be more cost-effective, with a growing business, you will need to reevaluate for cost and efficiency. Look to see if there are tasks that can be outsourced that will free up your team work on projects that will result in more revenue. You should also look to see if they have been taking on more responsibilities they are not equipped to deal with. Even choosing to outsource small tasks on a part-time basis can make a world of difference in the productivity of your team.
An adjustment to your own working methods, as well as the way that you organize your business, can result in a more efficient and productive team. Not to mention, things will be a lot easier to manage as your business grows bigger. Keep these tips in mind, and you will be off to a great start. Here’s to your success!
Carolyn R. Owens has over 25 years of proven experience and serves as a Career Strategist, Leadership, and Mentor Coach. She is the Chairwoman and CEO of Infinity Coaching, Inc., where they help you up-level your skills so you can up-level your income. Infinity Coaching, Inc. provides one-on-one and group coaching, organizational training, and personality assessments. Carolyn is certified to give the Energy Leadership Index and Myers Briggs Type Indicator (MBTI) assessments. You can learn more about assessments and other products and services at https://infinitycoaching.net.
