All businesses pray for a sudden surge in growth, whether it's a celebrity endorsement or a viral ad, but few are prepared for the fallout of that popularity. If you want your business to be prepared for growth and expansion, you need to start planning today. Before your business blows up, use these tips to plan a strategy for business growth.
Make a Plan
Imagine that tomorrow Oprah is reviving her "Favorite Things" show and you're going to be front and center. By this weekend, orders will be pouring in from across the globe and you have to respond immediately. What's your plan? Who will you hire? How will you ship? How will your costs be affected?
If you want to prepare for business growth, you need to have a plan and the best plan can be made by thinking big. Create a serious plan for sudden success that outlines how you'll outsource, who you'll hire, and what costs will be incurred during that period. A solid written strategy can help guide you during the early days of growth by realigning your priorities to fit what's best for your business rather than what looks right in the heat of the moment. Before you strike it big, turn those daydreams about success into a written plan.
Know Your Numbers
Numbers don't lie, and even during a time of unparalleled business growth, those numbers can't be faked. One of the best ways to prepare for business growth and expansion is to get a firm hold on your numbers. If you don't know exactly what it costs to produce one item or how much another employee will cost to train, you can't appropriately scale for growth. To prepare for a trickle or explosion of growth, become an expert on what it costs to run your business.
Have Talent on Tap
Recruiting and hiring is one of the biggest pitfalls during business growth. Businesses that find sudden popularity need to scale and without planning, that can lead to expensive and unsuccessful new hires. Successful companies are always recruiting and on the lookout for top talent. Even if you have no budget to hire immediately, staying connected with top performers in your field or using talented individuals for temporary projects is a great way to line up employees for the future. Don't be caught unaware during a sudden growth in business. Plan ahead by actively recruiting at all times.
Be Automated Now
Despite the best laid plans, there are some facets of sudden and unexpected business growth that can't be pre-planned. Automation isn't one of them. Workforce management systems are a low-cost and effective way to set your business up today for tomorrow's growth. Not only can a system plan and predict staffing, monitor employee production, and keep your costs on track, but it can be done whether a business has $50,000 in sales or $50 million. If you want to get your company on the right track for business growth, invest in an automated workforce management system today.
Even the most organized businesses can falter under the pressure of sudden growth. Having a plan and the infrastructure in place to address that growth can help businesses quickly adjust to new demands. Don't lose sales and customers during growth and expansion. Plan ahead to make the most out of business growth.