Growing as a business should be viewed as an exciting step towards grander goals and ambitions. It is a pivotal time that marks months and years of hard graft and workmanship and now the time has arrived to evolve as an enterprise.
However, it is only human nature to consider the potential downside and bumps along the road that will emerge when a brand switches to a larger premises, brings on new people or introduces a fresh product that will stretch resources.
To be equipped to handle these tasks, it is worthwhile examining the common challenges that will emerge over this time and consider what approach is best to adopt.
Being Open To Change
First and foremost, the stakeholders and key decision makers should be embracing change. This is a move that must garner enthusiasm to meet a loftier target. Change is designed to shake up the status quo and whilst 100% of the participants might not be onboard, there should be a realization and acceptance that this is a decision made for the betterment of the company moving forward.
Solving New Challenges
From the hiring phase to dealing with new pieces of technology, new team members and systems of operation, the staff and hierarchy should be prepared to deal with fresh challenges. People are creatures of habit and being exposed to daily tasks that are out of their regular routine will take a period of adjustment.
Planning For Expansion
Growth should not be a result of an ad hoc call made on a whim. It should be the natural and organic result of a larger blueprint that incorporates new members, new consumers and an objective that transitions the business from one mode to the next. This requires diligence throughout all departments of a firm, something that can be difficult for owners who have more immediate concerns.
Alterations In The Market
Has your decision to expand affected the local economy? How have competitors reacted and how is the niche evolving in society in general? Growth should fall in line with the response from consumers and a rise or drop in the market pricing should be taken into consideration.
Having The Right Structure In Place
Does the marketing manager need an assistant? Is the IT team comprised of enough members? Do more people need to be sitting at the decision-making table? The growth procedure must make owners think carefully about what structure is put in place and what roles and responsibilities will be crafted by the current team.