Being the owner or director of a small business can have its advantages when first starting out. You can easily maintain control because everything you do is on a smaller scale than many larger companies. However, what happens when you begin experiencing rapid growth? How can you take your small business to the next level with a minimal amount of stress and a maximum amount of efficiency? These tips should help.
1. Invest in People
One of the things you will notice when you begin experiencing major growth is that you will need more people on the team. Whenever possible, invest in top talent so that you build a team with the experience and qualifications needed for the positions you need filled.
Be willing to put together better benefits packages than the competitors and be willing to give them training if needed. Onboarding is essential, so invest in a high-powered onboarding process to acquaint your new-hires with your company, the team and to help them fit in comfortably in those early days. You may even want to consider appointing each new-hire a mentor!
2. Streamline HR Processes
Speaking of onboarding, there is an abundance of work which needs to be done when hiring new people. Often your HR department is overwhelmed by the sheer magnitude of paperwork and communications they are responsible for, especially when hiring multiple new people all at the same time. You can streamline many HR processes from onboarding to ongoing communications with staff with the cloud-based XCD HR platform.
You can assign access levels so that even new-hires can begin learning about your company online and this will provide an efficient way to keep track of everything from interoffice memos to payroll, training and so much more. Automating tasks and providing better communications are highly efficient ways to streamline processes in HR.
3. Step up Marketing
Once you have the staff you need to ramp up business operations to the next level, it’s time to step up marketing. Yes, you are experiencing major growth quite quickly, but why let the momentum slow or stop at this point? Build on what you have in order to keep growing and that may mean devising a new marketing strategy to increase your customer base. After all, you’ve just hired multiple new people and now you’ll need to pay them! It’s like the snowball effect. Your business realised a growth spurt and so you hired new people. Now those new-hires make it possible to handle more business so it’s time to expand your market share. As you continue growing, you will need even more top talent on your team so you step up the hiring process, only to be followed once again with an all-out marketing campaign.
Don’t be afraid of growth or taking your small business to the next level. That’s what success is all about and if you can learn to invest in people, streamline processes and revamp marketing as needed, you will continue growing steadily over time. You will get out what you put into your business, so give it all you’ve got and you will be successful in taking it to the next level.