You love what you do – and you’re good at it. Heck, that’s why you started your business in the first place.
When you mix passion and talent, good things happen. Yet, too much of a good thing can be not-so-good for new business owners finding their footing.
In fact, when business growth happens too quickly, it can lead to a breakdown in service delivery, customer service, operational processes and more, resulting in stress and chaos at best and frustrated teams, unhappy clients and lost revenue at worst.
Are you in the camp of businesses blessed with the curse of rapid growth? If so, you’re not alone. Here’s how to maintain the pace and get your workflows back on track.
Step One: Revisit Your Reasoning
When you’re in the thick of growth, it can be easy to forget the foundation you built your business on and why you do what you do. To catch your business up to the demand for it, first you need to slow down.
Ask yourself the following questions to find your footing:
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Why did I choose to start my business?
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What is my vision for my business?
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What values describe my business?
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How do I see my business growing over time?
Getting clear on your reasoning is beneficial for solving your growth dilemma for a few reasons: It brings your top priorities into focus. It forces you to step out of the day-to-day and examine the bigger picture of why you’re doing what you’re doing. It offers clarity on the direction you want to take your business.
Step Two: Prioritize Your People
Those who show up to work with you and whose livelihoods you are responsible for are the heart of your business. So, when unprepared growth happens, take care of your people.
Start with the housekeeping. Questions to consider:
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Do you know what matters to your employees?
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Are you offering attractive perks and rewards?
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Do you need to forecast for hiring and/or terminating any positions so you’re not burning out your team?
As an employee, security matters. First and foremost, ensure you are providing that for your team.
Next, focus on morale. Based on the work you did in step one, remind your employees of why you’re all here and what you’re working toward. An aligned team is a powerful team, and when your people are rallied around a common cause and bought into the mission, they’re more forgiving of growing pains, they’ll help amplify your service and they’ll work with you to get your business on the right track.
Step Three: Care for Your Clients
Once your employees are invested, direct your attention to the experience your clients are receiving from your business.
Take inventory of your current client-facing processes:
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Do you understand how the product or service you are providing impacts your client’s business?
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Does your pricing structure make sense? For example, for a service-based business, are you charging a retainer or hourly?
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Do your softwares and systems support streamlined delivery?
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Is your process in each phase of the client lifecycle clear? From attraction to retention, is there any friction?
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Are you able to measure the results of the partnership?
Bottom line: Are you providing the service, product or experience you said you would?
The key to successful client relationships is authenticity and trust. If you are transparent and sincere, clients are much more likely to understand hiccups and accommodate ebbs and flows of business if they know they are being taken care of.
Growth is exciting for any business, but without the right structure in place to support expansion, excitement can quickly turn into anxiety. By evaluating a few key areas of your business, you can set yourself and those you serve up for lasting success.
