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Business Growing Too Fast? 4 Steps to Manage Rapid Expansion

Has your small business grown so fast that you’re afraid you won’t be able to keep up with the workload? Here are four easy tips to help you...


One of the best ways to make enemies in this world is to complain about problems that other people would love to have. Has your income risen so much that your taxes went up? Are you trying to figure out how you’ll juggle the two beautiful women (or in such case for the ladies — men) who want to have drinks with you tonight? Has your small business grown so fast that you’re afraid you won’t be able to keep up with the workload?

Well, here are four easy tips for dealing with the latter of those problems.

1. Charge More

The rise in demand for your products or services could mean that you are charging less than others in your industry. While that is definitely an advantage as long as you can afford it, look around (in comparison to your competition) and make sure you aren’t giving your time away.

Some customers may assume that because your prices are lower, you must offer a lower quality product. On the other hand, your time and skills are valuable. Don’t underestimate them.

2. Delegate

You may feel overwhelmed because you’re still trying to run your business the same way you did when it was just you and the one client your mother managed to snag for you from her church congregation.

Now that you have employees, an online presence and more clients than you can name, perhaps it’s time to pass some of the simpler tasks and less important accounts on down the line. After all, isn’t that why you’re paying your employees?

3. Hire More Help

You may simply need to hire new employees to keep up with the growing demands of your customers. Don’t overload yourself with new trainees and tax forms, but don’t shy away from bringing in the help that you need.

If you’re no longer serving your clients quickly and efficiently it won’t be long before you see that growth turn itself right around. You’ll want to make sure that you choose a good active directory tool that will allow you to keep an eye on those new hires and control who has access to which systems.

4. Specialize Your Services

When you first started your business there were a lot of things you didn’t know. You might not have known which of your services would be in high demand, you couldn’t predict exactly who your customers would be, and you had no way of knowing for certain what kind of turnover rate you would experience. Now that you have that data, evaluate whether all of the services you offer are equally profitable.

Maybe you have several competitors in your industry, but you’re the only one who offers a particular niche service. Maybe most of what you do is profitable, but one aspect is time-consuming and fairly valueless. Would it be practical to outsource or completely drop that option?

Your business is changing, and all of the information you used to make decisions about it in the beginning is no longer relevant. The most important thing now is to gather as much data as you can before you reevaluate your new needs.

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Photo: Mango

Roger Firman is a blogger and business tech enthusiast who spends his time writing about the advancement of technology in the workplace. He writes for Tech Toolbox, a company who specializes in active directory management.

 

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