On The Brink? Here’s How To Manage Business GrowthPosted by Nicole
Some small business owners find themselves working so diligently on operations, they aren’t prepared for business growth. Revisiting (or writing!) your business plan will help you figure out where you want the ship to go, and how to steer it.
These tips will also help you manage your small business when it’s on the verge of booming.
Find The Way Forward With A Business Coach
Business coaches are great for providing an objective view of your business. A coach can act as a sounding board, help you manage change and plan for your company’s future. Making good decisions (and avoiding painful, costly ones) with some detached foresight is one of the greatest benefits of hiring an experienced coach when your company is in a growth phase.
An important consideration when finding a coach to work with is someone with experience in your niche, and who is a good match for your personality. Ask colleagues for referrals. You may also find a coach in one of your networking groups. Many coaches offer a free session to get a sense of what you need and so you can both decide if you’d enjoy working together.
The Importance Of Management And Delegation
Small business expert Susan Wilson Solovic writes about the art of delegation in The Girl’s Guide To Building A Million-Dollar Business. While it can be one of the most difficult skills to learn — especially for business owners who have launched a small company to a critical stage of growth on their own — delegation can have a major impact on your company’s long term success.
For some, delegation feels like relinquishing control. However, allowing qualified people into your business to manage the right responsibilities will help you — and your company — make pleasant strides forward.
- You’ll have more time to manage and enjoy your business
- You can let go of the tasks and responsibilities you don’t enjoy doing
- You’ll enjoy the freedom to create a role you love — one that you can revisit and adapt as appropriate in the fruitful years to come
How Have You Handled Business Growth?
If you’ve already been through the growing pains of transitioning your small business into a bigger one, what helped you adapt and thrive?
Leave a comment, a tip, or suggestion below!