Your dream is coming true. Your company is growing faster than you expected. It’s natural to have mixed emotions. Growth can be exciting, but it may not be a bed of roses. It most likely comes with more work and responsibilities. As the company grows, more often than not, so will employee workload and customer expectations.
It’s not an impossible task. You just need to be proactive and prepare yourself and your team for the new normal. To cater to more customers, you may need more staff, more supplies, and even more space. Once you have a reasonable estimate of how much workload is projected to increase, you can plan accordingly.
You may even have to change some processes during the transition. If you own a handmade jewelry business and receive a massive order, you may have to increase processing times on your website. This way you can fulfill the large order promptly.
Rapid business growth can be overwhelming, but with the right tools, you can ride the wave. Start by making a list of resources and tools to help you during this growth spurt. Here are a few things you may want to consider:
1. A Strong Workforce
If your team has contributed to your success, don’t reward them by overburdening them. As your business grows, you’ll want to make sure you remain properly staffed. If you don’t have time to hire more people, look for ways to delegate. For example, strengthening your team is easier if you have a PEO (professional employer organization) to help. They’ll take care of the required documentation, legalities, and streamline payroll. Faster turnaround can mean new employees start work quickly. It also sends the message that your company values time and professionalism.
Many organizations are hiring remote workers to reduce administrative overhead and stretch working hours across different time zones. An outsourced HR team should be well-versed with varying labor laws. That way you focus on operations while experts handle documentation. Once backend tasks are taken care of, you’ll be able to focus more on your core operations.
2. A Streamlined Back Office
Your company’s product or service may be great, but that’s not enough. If your customer doesn’t get timely responses and delivery, they might avoid buying from you in the future. It’s easy to lose track of accounts and inventory when your business is expanding rapidly. Don’t worry if you’re not good with figures. Sit back and let technology assist you.
Depending on the size and complexity of your business, there’s a wide variety of software programs to automate routine tasks. Consolidate your finances by installing a bookkeeping program that helps with accounting, invoicing, and even payroll. With the right software, the tasks are completed quicker, and with a lower risk of errors, keeping both you and your customers satisfied.
3. Stellar Customer Relationships
Your customers aren’t just giving you their money, they’re also trusting you to provide them with a good experience. Unexpected growth can bring with it an unexpected influx of new customers. It’s a golden opportunity that shouldn’t be taken for granted. The only way you can turn these first-time visitors into loyal patrons is by providing them exceptional customer service.
Customers want to be heard. Make sure there is always someone to answer their questions promptly and respond to their feedback. If you can’t afford around-the-clock staff, maybe AI chatbots can help you. Train the chatbot to answer frequently asked questions and forward complex queries to senior staff members. This will save time for customers and employees alike.
4. Effective Marketing Campaigns
You deserve all the accolades for doing well, but don’t get complacent. Try to figure out which product or which campaign spurred your growth and repeat the magic formula. If personalized children’s books were a hit at Christmas time, bring out another version for Valentine’s Day and Easter. Study the demographics of your new audience to understand who is interested in your business and why. Use this information to customize your next marketing campaign.
Instead of churning out the same type of marketing content, be creative. Target your audience by knowing which social media platforms they use and which influencers they follow. If you have a physical store, organize events to draw in customers and show them a good time. Keep trying different techniques, but don’t forget to analyze results so you know what works and what doesn’t.
5. Data Management and Analytics
Your company is generating a gold mine of data every day. Data such as customer influx times, popular products, and delivery turnaround times should be utilized when planning future strategies. Past trends are the most helpful tool to predict future trends. You may not have expected a certain product to be a hit, but now that it is, boost production. Remind yourself that your business caters to your clients, so their preferences matters most.
Numbers don’t lie. If there’s an unexpected spike in customers, try to figure out why. You can analyze company performance, products, and sales through analytic software. It’s quick and easy and the insights it provides improve your business decisions. Perhaps a local bakery is doing better, as the ice cream store in the strip mall closed down. People have only one dessert option in the area. With this information, the owner could add ice cream concoctions to the menu too to boost future sales.
Proof in Numbers
Rapid company growth is proof of the fact that your business model has the potential to succeed. Customers are appreciating your work and new customers are willing to give your company a try. This is exactly where you want to be. Now, all you must do is maintain your reputation by maintaining the quality of your service.
It’s not a one-person job. Delegate and automate the routine tasks so you have time to focus on research and innovation. A thriving business is your dream — but remember that it won’t be possible without a competent and committed team.
