Managing small business growth

Managing and sustaining unforeseen growth is obviously what all business owners are after; however, it can be a tricky situation to contend with and unless you are well prepared you could struggle to deal with the extra customers that are coming your way. If you don’t manage it well – getting enough stock in and having the necessary staff to deal with extra footfall, for instance – then you are in danger of undoing the good work that got you the extra business in the first place.

Preserving cash reserves, keeping staff motivated and happy and continually finding storage facilities are just some of the different pitfalls that you’re likely to come up against. This is why planning well in advance will pay off in the long run and help to minimise any negative effects that the business may suffer as a result.
Expand your workforce
One of the first things that you will need to do if you have a big new contract or some fresh customers is ensure you have the bodies to complete the work. Now, you might be thinking of the extra money that will be wasted away by hiring more staff, but believe me, if you haven’t got anyone around to sell your products or engage customers, then people will stop coming around. Developing job descriptions, posting ads, sorting through CVs, and conducting and arranging interviews are all important but you mustn’t rush this. Be diligent in conducting a careful recruitment process so you only employ the right people.

Expanding your workforce can also encompass making your current employees better at their job, by investing in training and, basically, them as people. You will always want highly competent people in a business and the more expertise they have, the better they will deal with customers.
Adapt organisational systems and procedures
When you start your business it is likely that you’ll be looking over the shoulders of employees to see that they are doing everything right, but there will come a point where you have to admit you can’t do everything. In the same vein as the last point, in that you need to invest in your employees, you also must trust they can take some of the workload.

Any business needs systems and procedures for managing staff and providing the products or services of the company. If you implement a certain standard of procedure then, in theory, any job can be given to your staff, including managing the extra stock you will inevitably have to be ordering.
Dealing with the extra space requirements
A growing business generally means an increased amount of space for either staff or stock is required. There are a number of options open to you and your business. You could move your premises to somewhere larger, attach an option to a lease allowing you to continue renting for renewable 12-month periods of time or rent out extra storage space. Rented storage facilities are a better option for a smaller business as they are cheaper to run and are a more flexible way of running the business. To look at some of the storage facilities that are open to you click here.

An ideal space to work in would be one that has a small amount of growth space built in, but if this isn’t possible then renting a separate space nearby could well be your best option.