How to achieve business growth (and survive to tell the tale)

by - 7 October 2016
You are currently viewing How to achieve business growth (and survive to tell the tale)

Most business owners want nothing more than to see their business grow into a successful organisation. For all the blood, sweat, and tears – not to mention the countless sleepless nights – to be worth it. But business growth can spell disaster if your company’s tools and processes aren’t scalable and fit for rapid expansion. Growing pains are universal, but can make for an ironic executioner when they expose and put strain on internal weaknesses and vulnerabilities.

Here are a few tips for growing your company without compromising your service:

Work on your business, not in it

Owners and CEOs need to focus on growing their business, finding efficiencies, and moving forward. But this is near impossible to do while simultaneously running operations on the ground. Get out of managing day-to-day fires by hiring people who you can trust to do that part of the business. Trust is essential, as you can’t afford to waste time micromanaging your employees.

Find and establish key relationships and networks

They say you’re only as good as the company you keep – and this is doubly important for business owners and CEOs (mind the pun). Make an effort to maintain a good relationship with key clients, suppliers, and partners, even after you’ve done business with them. Building a dependable network is crucial for healthy growth, as any weak links in your supply chain can undermine your entire service offering.

Rent – don’t buy – business tools

With technology developing at an astounding rate, the prevailing business tools tend to have an increasingly limited shelf life. In this environment, it makes far more sense to rent what you can so that you’re not committed to certain software or hardware that quickly becomes obsolete. Renting business tools is a lot easier today than it was a decade ago, as the Software as a Service (SaaS) business model has become increasingly feasible with developments in cloud technology and cloud services. This is also great for business growth, as the renting model is inherently scalable.

Outsource non-core processes so you can focus on what you do best

Outsourcing non-core processes is another great strategy for avoiding growing pains. This is especially the case for your IT processes, as building and managing an insular internal IT department will become inordinately expensive and time-consuming when it’s time to scale. Hardware costs alone can inhibit business growth, let alone the costs of building and training a great IT team and investing in sufficient cybersecurity measures. By outsourcing IT and other non-core processes, you and your team are free to focus on business processes that generate revenue and drive business growth.  

Get access to industry experts

Another great way to scale without buckling under the pressure of rapid growth is to draw on the guidance and expertise of industry experts. And don’t worry, you don’t have to hire them – you can simply use them as part-time consultants or outsource to them on a retainer basis. This is a great way for business owners and start-up co-founders to supplement business decisions and navigate the unfamiliar territory that comes with scaling a business.                                 

At PowerNET, our IT experts can help you achieve business growth and rest assured that your IT processes are running smoothly and scalable as you grow. Contact us to learn more.