How To Plan For Company Growth & Avoid Growing Pains
Posted on April 4, 2014
“One of the greatest achievements a person can strive for is starting a successful business. Once that business is up and running, many people believe that the hardest part is over,” stated CEO and Internet Guru Danny DeMichele.“However, businesses, not unlike humans, are living entities that must be nurtured properly over the years. As a business expands, growing pains debilitate some companies, stifling their success until problems smooth out. Preparation and planning are key elements to avoid company growing pains to move business forward swiftly.”
Here are a few helpful tips from Danny himself to help YOU plan for your company’s growth while avoiding those undeniable growing pains associated with an unorganized business plan.
Plans Need Follow-Up
One of your business goals was to bring in 50 new clients last year, for example. Loyal employees took on the challenge and were able to secure all these new accounts. However, lack of support is causing these companies to scatter. When you started the plan of developing new customers, there should’ve been a follow-up plan. Account, product, and service support need to be part of the sales plan to completely handle new customers properly. The follow-up maintains clients’ needs while moving the company past potential growing pains.
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Hire Endurance Employees
When you hire new employees, look for their track record as an endurance runner. For example, a top salesman secures a consistent amount of clients each month for a previous employer, as noted on the resume. An endurance runner would stay at that company to cultivate and mold those existing clients even as the salesman continues to find new customers. Once you find these endurance employees, keep them motivated with new goals, praise and bonuses. With similar goals, the new employee and company can grow together without stumbling into common workplace growing pains.
Mix Up The Generations
One of the biggest trends right now is filling companies with young, go-getter employees for a modern perspective on industry. Although youth brings new life to a growing company, you need to mix in several other ages to complete your business’s profile. An employee that has worked as a computer technology expert for 15 years has the calm demeanor needed in a company emergency, such as the server breaking down. A younger (in the sense of experience) employee may panic and cause potentially more damage in this scenario. With wise, older workers and young employees, company growth can be smooth and streamlined everyday while maintaining differential based outlooks and performance execution techniques.
Treat Departments Equally
In the past, management believed that department competition spawned productivity. However, it typically led to poor working relationships and staggered company success. To keep the business moving forward, treat all departments with respect. In fact, create projects that allow healthy collaboration between departments. Web designers should work with the art department on an eclectic marketing campaign to grow the new product line, for instance. With collaboration comes communication, allowing all workers to feel needed and important.
Customers Provide Critical Insight
From a company’s perspective, last quarter’s product launch was a complete success. However, management still needs to listen to industry opinions, especially direct customers. The products may have flew out the door, but customers could be disappointed with features or performance. By listening to customers’ concerns, your business can avoid product defects that stifle growth. Alter and correct product issues before moving on to the next project. Customers respond positively when you listen and take their needs seriously.
A company’s growth depends on management, hardworking employees and customer feedback to truly grow and avoid growing pains. Look at the whole picture when designing a new product or service launch as you grow into a more successful business.