When businesses are struggling, the warning signs are clear. Employees are leaving for greener pastures, business is slow, and there's an atmosphere of defeat. When business is booming though, it can be harder to recognize that success. These are just five ways to tell that your business is growing fast and when that growth needs your attention.
Resumes are Piling Up
Hiring is usually last on the agenda after a surge in growth. Business owners want to make sure that growth can sustain more staff and most businesses can go months before they get much needed relief. One way to tell that your business is achieving success in your industry is that unsolicited resumes are starting to clog your HR department. Job seekers keep on the pulse of their industry and if they recognize an up-and-coming company, they want to be on the ground floor, even if there aren't currently jobs available. If you start getting calls, emails, and mailed resumes, your company is making a splash in the market.
Space is a Premium
When you first move into an office space, the possibilities seem endless. There's room to spare, plenty of space for storage, and a sense of optimism about the future. Two, five, or ten years down the road, you may not notice that space slowly closing in and suddenly you're sharing an office with another manager and struggling to find space for inventory. If space becomes more valuable than your time and you can't possible fit another desk into your workspace, take that as a sign of growth and success in your business.
Your Social Media Presence is Bustling
Time spent on social media, even for business, can often feel like a waste. Whether it's Twitter, Facebook, or LinkedIn, the return on investment can seem vague and a little infuriating. When that time starts paying off with increased customer communication and a wider audience, not only does this signal that there's more customer interest in your business, but also that there may be a surge in business growth. An increase in social media exposure means customers are recognizing a business in the market and when you notice more traffic, more interest, and more discussion on your own pages, it means that growth is rapidly coming.
Managers are Manning the Front Lines
During the start-up years, managers are the jack-of-all-trades. Not only do they develop policies and procedures but they put them into action themselves. They work as bosses, co-workers, friends, and confidantes. As the business expands, they need to start taking a backseat to monitor and manage. If you notice that your business is booming and managers are still manning the front lines, it may be time to take a step back to investigate whether it's time to hire and grow your business further.
You Start Meeting Your Goals
If you have a workforce management system, you can easily monitor your company goals. Each month, reports generate to say whether you've met allocated work hours, made payroll targets, achieved departmental performance goals, or other parameters. If you notice that your business is continually meeting or exceeding those goals, it may be time to reassess and increase your goals. Goals should be something to strive towards and if you are continuously meeting those goals, it is a strong signal that your business has grown.
Business growth doesn't look the same for every business and many companies don't realize they've reached massive growth until sales are hurting due to lack of infrastructure and staff. Use these indicators to monitor your business success and start scaling up to meet your business potential.
