Wow! Your business is going great and you are really busy. Does it feel like you can’t keep up with everything, or you are running out of time? We all know that in order to succeed, time and effort are important. We also know that you can’t take it easy and just ride on your successes. You may be experiencing growing pains. Now is the time to determine your next steps.
As you move from the start-up stage of your business to that of a more mature growing business, you need to consider several factors. These key components are essential to maintaining your success. For instance, can you sustain business to the level that you are currently at as a solopreneur, or do you need to consider adding to your team? What is your growth strategy, or do you even have those plans in place?
You’ve done the first step by creating your organization. You’ve also reached the stage where you are making money and able to provide products and services that satisfy your clients. At this point you need to determine whether you are ready to expand. Consider these factors when determining if you have growing pains.
Can you still do everything yourself, or are you running out of hours in the day to get all of your work done? One of the first signs of needing to add to your team is when you feel overworked and there is not enough time in the day to accomplish everything that needs to be done. If things are slipping through the cracks you may need assistance.
Look at your goals for your company. See if your current position is in alignment with those plans. If you have consistently been beating your goals, perhaps it is time to re-evaluate and adjust. As you review your plans and goals, consider and plan for necessary expansion needs. Can you continue where you are currently with the staff, systems and processes that you have in place or should you consider alternatives? I can’t say enough about planning. It helps you prioritize what should be handled first and will provide you with peace of mind to have a plan in place. Think of your plans as a step-by-step guide for continued success.
Review your processes. Check to see if everything is working the best way possible. Chances are, if you are becoming so busy that you can’t keep up, some of your processes may need to be streamlined or changed. Don’t be afraid to make adjustments. Having an assistant review some of these processes with an objective eye, may provide you with a different, perhaps better approach to making your business run smoothly during your expansion.
When you first started your company, basic systems may have been all that you needed. A simple accounting system, basic computer programs, etc. Now that you are busier, perhaps you need to review them again. Is your accounting system robust enough? Are there programs out there that could make business run more efficiently?
The key to maintaining sustained growth for your business and not experience debilitating growing pains, is to plan and focus on what is working well and not be afraid to make changes. Think of it as planned growth. Don’t be afraid to add to your team or make changes. Monitor your business during this transition to being a larger company. You can ease the “pain” by being prepared.