Don’t let fast growth create a monster that halts your growth in its tracks and that could even kill your business if not fixed.
Here’s what you’ll be facing and what to do to make sure you don’t slow down or fail like many other companies have at this stage of their lifecycle.
You have now advanced to the mid-stage of the business cycle. Your operations are well in place and your leadership style has been good enough to keep you solvent and handling the problems that present themselves. Your systems work and your employees have shown that they are reliable and dedicated. Your customers report they are usually satisfied. The occasional complaint is resolved.
All is well, right? Wrong?
With all your heady growth and increasing money, what could be wrong? In the scramble to handle growth, almost all businesses don’t lay the strong foundation needed in quality, execution, processes, delegation and teams needed to support existing, much less even more growth.
Ever hear of a company “that grew itself to death?” It’s no myth, it happens.
You need help to improve your processes because:
- Sometimes the demand for your product is so great that your people and your production lines fail to keep up.
- Your employees can get over worked.
- And when that happens you can’t get overtime replacements quickly enough.
- Your customers are demanding better quality. Defective products are returned; invoice payment may be held up until the issues are resolved. Cash flow suffers.
- Missing deadlines is a constant concern.
We’ve seen all these and many more, you are not alone, it’s common to overrun your capabilities.
Your company may well need to be beefed up and improved in a number of areas. Here are some situations you may already be experiencing that tell you it’s time to up your game and improve things immediately:
- When you delegate responsibility, your manager misunderstands or does not get the job done as you instructed or expected.
- Production bottlenecks restrict your output, causing disruption and a crisis as you desperately try to hire and train more people or expand your plant.
- Your staff have competing ideas to resolve the situation and disagree how to proceed. Decisions don’t get made, meetings become endless. The blame game appears.
- You have one or a few major customers. They control your business.
- You feel like you don’t know what is going on. There are strangers in your company you know are employees and it bothers you that you don’t know them personally like you used to.
- Keeping your finger on the pulse of the business seems almost impossible. You feel you don’t know what is going on with key business areas like you used to.
- You are getting pulled in multiple directions, everyone wants to talk to you and get your OK. Maybe they expect to deal with you like they did when you were just 10 people and you’re now up to 100 employees.
- It is difficult to find financing or new product ideas to grow your future.
You Are Not Alone
Many business owners in fast growing companies feel the same way and want to regain that sense of knowing what was being done like they used to when things were smaller and less of a rocket ride.
When these problems show up, we update and upgrade your approaches and systems of doing things so you really do know what is happening and if anything is amiss while there is time to get it back on track. We do that by analyzing how things are done ow and the leaders and managers. Then, we create a plan where we work alongside you and your leadership team to achieve your goals. We always keep in mind that what is right or you will be quite different from another company and that is why we tailor our solutions to your needs.
Other Challenges at This Stage
One situation that can raise its head is trying to sort out all the opportunities that present themselves in your marketplace. You become afraid of missing out on a dream future. They all look tempting because they promise easy and big financial rewards.
But when you try to get involved in one of them you find the entry costs are greater than you first thought. Or it takes more specialized understanding that can test your resources more than you understood. This stage has special demands: sometimes your understanding of the total picture your marketplace presents needs to be refocused.
Insight and experience with these challenges is what you need. Our team brings the breath of background and experience to capably analyze what is happening, and the solutions that make sure your dream business continues to thrive and grow without interruption.
Doesn’t It Make Sense for You to Save Time, Money and Headaches So Nothing Slows You Down?
At this stage in your business the smart move is to bring in knowledgeable advisors and consultants who see things from different perspectives and wide experience. The best companies know using the experiences of other to avoid the potholes and dead ends encountered by others is essential.
It is often the difference between smooth growth and a wild and bumpy, sometimes fatal business future.
Why not schedule a call and let’s discuss your business, your vision and situation to see if it might make sense to work together?
You’ll at a minimum take away some new perspective on the challenges at this stage of growth and more ideas of how to resolve them.
There Are Easy Solutions, Let's Talk
No obligation of course and it’s 100% confidential. We are here to help.