Business growth is great but...
All businesses like growth. Without growth a business will struggle to survive, it cannot attract the best employees and is in danger of been overtaken by competitors.
However, besides the tricky bit of actually achieving growth, there are also other factors which businesses often forget about. These include:
With growth comes change and with change comes complications. Not many of your staff will like change. Change needs careful planning, monitoring and the right type of leadership and staff. None of this is easy and none can happen instantly. Businesses must be prepared when growth does happen.
Growth causes evolution. Business models must be able to adapt to the changes within the business. Managers and staff who are following these plans must also evolve to ensure business growth remains a positive thing.
Continuous learning and improvement
All employees within the business must be open to ongoing learning, adapting, experimenting and improvement. Combining all of these with the increased workloads that growth brings can be difficult.
Focus and setting priorities
When a company achieves growth it is important that the cause of the growth is recognised and that this selling point takes the main stage and focus of a business’s selling points.
Usually with growth, companies need to expand. To ensure the company maintains the right standards, step by step instructions on how to do things are important. This will help to minimise mistakes being made while keeping customers happy by providing a consistent service.
Like everything in business, there are risks. All businesses are faced with risk, whether they are experiencing growth or not. However, with growth comes stressed and often overworked staff, strained processes and finances and undervalued clients. Identifying and understanding these risks is critical to ensure growth success.
By simply thinking about what might go wrong, you’ll be ahead of the growth game!
Artisan can help.
Our business growth plan and business planning consulting services help you drive quick and sustainable business growth and increased profits.
We deliver comprehensive business plans, reviews, detailed action plans, assessments, training, coaching and recommendations on what you need to do differently to exceed your business growth goals and take your business to the next level.
Our business growth plan and consulting services deliver improved business growth and profits.