Building onto Your Business: How to Adapt Quickly to Growth
There is a lot of advice out there about how to adapt when business isn’t going well. Everything from downsizing to lean management gets thrown around as a solution. What gets a lot less attention is how to adapt when your business is growing and doing well. The reality is, even good change like growth can be stressful and needs quick, proper management to maintain your success.
Learn to Say No
When growth hits, your workload goes up. That means you need to get more from every minute. The irony is, growth will lead to more people vying for those minutes with requests for help, meetings, or business lunches. You need to learn to say no to all but the most critical of those requests. That doesn’t mean leaving people hanging. It means delegating work tasks and politely, but firmly, declining non-essential commitments. Prioritize the work that will lead to more sales, continued growth, and better outcomes. Be sure to also give yourself room to breathe between projects. Overworking yourself during this period can lead to a lot of mistakes.
Up Your Technology Game
Many businesses use whatever software they can afford when they start, which usually means the free stuff. While you can cobble together a mostly functional suite of programs that way, it isn’t optimal. People waste a lot of time finding the right spreadsheet or moving information manually from one system to another. Even worse, they struggle to make software do things it wasn’t really designed to do. Even a basic business software suite should immediately save time by making data accessible, in the right format, for all crucial functions. Choose the programs that are the most essential to your business. It might be HR management or finding an integrated CRM and mobile invoicing app. Options like FieldPulse can combine a lot of functions so you can keep track of employee schedules, manage jobs and projects, and create estimates and invoices on the go, all in one place.
One pitfall of growth is that you may discover your current office space is suddenly crammed to the point of over-capacity. Perhaps all your cubicles are filled but you need three new employees. Finding a larger space, renting the adjoining office suite, or constructing a new building isn’t an overnight process. You can speed things along by hiring an architecture firm to design completely new spaces for you. They’ll get it done faster than you could, and you know it will meet local codes. Some architecture firms will even create 3D renders of concept designs to be sure you’re getting the best possible options for further projected growth and your business’ future needs.
Keep an Eye on Goals
Periods of quick growth are hectic, and it’s easy to lose the big picture within the blizzard of details. Take time to review your long-term goals. If you’re still committed to them, make sure your current hiring and investment decisions support those goals. If you see a better opportunity on a different trajectory, consider pivoting your business while you’ve got steady cash flow.
Adapting quickly to growth calls for a combination of factors. Delegation and saying no become time-saving necessities. Business management software can improve everyone’s efficiency by centralizing data.You need to make sure your physical space can accommodate employees, equipment, and supplies. Examining your business goals ensures you’re staying on track or pivoting with intention. Combining all of them lets you adapt at the speed of growth.