Your business is growing and your profits have increased – that’s good, right? I mean everyone is telling you that it’s a good thing and I agree it IS a good thing! You have a successful business. You did it! You put your heart and soul into your company and succeeded! That’s an amazing accomplishment.
Now how are you feeling? Are you riding high and enjoying life? Or are you struggling to keep your head above water? Do you have time to sit back and relax or are you being pulled in a million different directions?
If you are struggling to keep up then keep reading.
You have experienced rapid growth within your business. Again, this is generally a great thing to occur. But let’s get control of this growth before it becomes detrimental to you and your company.
Understand Why it Grew
The first thing you need to do is to find out where this growth is coming from? Did you go viral? Is it a one time surge or is it sustainable flow? Look into the reason why your business experienced this growth and dig into this.
Create a Plan
Once you understand why it grew, take time to create a plan. Do you need to hire additional employees or even a freelancer to step in? Is the growth keeping in line with your vision for your business or is now the time to adjust the vision? Do you want to cut out services you do not like to provide and focus on the ones you enjoy?
Understand your Financing
Make sure that the increase in business actually equals an increase in profits too. Analyze your operating costs and determine what your working capital is. Are you making a profit? Can you afford to hire an employee? Take the time to iron out these details either on your own or with a financial expert. While you have the details in front of you, don’t forget to create a forecast for your future too!
Streamline the Process
Do you recognize any parts of the process that could be easier? Maybe you receive a phone call with the same questions over and over again. Maybe there is a part of the process that is streamlined and tasks that could be eliminated. Reduce what you can without sacrificing your values and the quality of the product. Once you get through this process you will free up additional time and understand who you need by your side to assist you in further developing your business.
Hire Help
Time to hire someone to help you manage your business operations so you can focus on what you do best! Who would be the best fit for your company? What kind of help do you need? Do you need someone to handle customer service? The production? Overall operations? Take the time to determine who would be needed to alleviate this pressure and start the process asap!
As I said earlier, business growth is awesome! Working 60+ hours and still feeling like you are drowning in your business is not awesome. Utilizing the above suggestions to reorganize your business needs will help you adapt to the rapid growth and allow you to continue to build a successful company.
If you still feel stuck and unsure how to move forward, reach out to me now and I can provide a free consultation to review the steps you need to take to reduce your business load and successfully continue to grow your business.
As an Online Business Manager that specializes in small business growth and development, this is my favorite type of business to step into and organize. Let me help you continue to build your dreams.
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