Change can be scary if we’re not prepared to deal with it, and that goes for both our personal lives and as part of our careers. Even someone totally accomplished in a field can feel out of their depth when working for a big-name firm, or when starting anew in a field that makes use of their transferable skills.
The same goes for business growth. If you’re lucky enough to have made a profit, reinvesting that profit, leveraging debt to help expand your operation, and looking to solidify your position is an essential process that most businesses wish to follow. After all, in some industries, staying the same amongst changing market trends and enhanced competition is tantamount to staying stagnant.
Overcoming the fear of business growth, then, can take time, energy, and no uncertain amount of enthusiasm to get right. But how can we avoid feeling as though an operation is becoming too big for us? How can we understand how to properly redefine the identity of our business as we grow? And what business principles have been followed in the past? In this post, we’ll discuss the best advice for competently handling and planning this new normal:
Outsourcing Where Appropriate
Outsourcing vital functions until you establish a department can be thoroughly helpful, and may even give you the capacity to structure your approach with more clarity. For instance, hiring a consulting professional to oversee your establishment of a HR firm, or Aperitif digital to properly market your expansion to your consumers can be a fantastic means of finalizing your new plans and coming away with nothing but the most professional grounding.
Expansion, Not Definition
You don’t need to rebrand in order to grow. You simply need to consider how offering further volume, or expanding your services, or perhaps expanding your utilities like giving customers a website account system to use, book, and track their orders can be key. Some businesses worry that expansion will lead to a dilution of their brand identity, but provided you keep to your core principles while refining them to apply to further output and bringing on more customers or clients, you’ll be able to keep your values intact.
Recruitment, HR, Payroll
One of the biggest fears of growing a business is that it by virtue of expansion you’ll be less capable of caring for your people. This is why expanding in your recruitment, HR and payroll competencies and departments should often be your first port of call. Recruitment can often be handled in-house, but streamlining your application and interview process and making that more professional could be key to attracting better talent. A HR professional hired to overlook your people and to handle confidential requests is an essential component of your work too, while payroll can be moved to thoroughly accredited outsourced firms to make sure you never miscalculate a cent in owed funds, or a second outside of the expected payment date.
With this advice, you’re sure to overcome the fear of business growth and help your firm flourish as a result.
