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Growing a business can be tough. The first few years after we start a new business are often tense, and plagued with uncertainty. It’s hard work, and it’s only when our efforts begin to pay off that we can really start to relax and enjoy owning our own business.
But, few of us do relax. We’ve got a sniff of success, and we like it. Instead of resting, and being content with what we’ve got, we want to take the next step as soon as we can. We want to push our business forward, growing and developing. We want our little company to start competing with the big boys, and we’re keen to reap the rewards that this could bring.
This is typically a good idea. Even if your ambitions are a little smaller, resting and being content with your current level of success is often a mistake. This is usually when our competitors overtake us, and we get left behind.
That doesn’t mean that it’s easy, however. No matter how well your business is doing right now, once you decide that you want to upscale, whether to climb the highest mountains or make small steps up the ladder, it comes with new challenges. You must take the time to prepare, before taking any steps towards upscaling your business.
Build the Right Team
In the early days of your business, you may have done a lot on your own. It’s a great way to save money. But, if you want to upscale, you will need help, and you need to be able to delegate.
If you are ready to hire staff, first think about your own strengths and weaknesses. What do you need help with? What would you still like to be responsible for? Don’t think about what you enjoy, but rather, the needs of your business, and where staff would be most beneficial.
Make Sure You’ve Got the Tools That You Need
You’ve got the team, you’ve got the ideas, and you might even have the customers, but, do you have the tools, supplies and equipment that you need? Can your suppliers meet any new demand? Do tools arrive in your business fast enough? Consider help from Rapid PSI, and speak to any suppliers about increased demand, before you start increasing marketing, offering a more significant product range, or making promises that you can’t keep.
Hiring a few team members is essential. But, remember, upscaling is a risk. You might not want to rush out and hire a large team until you are sure that things are going to work out, and that you will be able to pay them permanently. Consider outsourcing some tasks instead. You’ll still get access to skilled people, but you’ll only pay for what you need.
Don’t Try To Stop Being a Small Business
There are many advantages to being a small business. Small businesses can connect with their audiences and build relationships. Local communities are more likely to help their small businesses, so try to keep being one, even as you grow.
If you think that you are ready to start upscaling your business, that is fantastic. But, taking some time to make sure you are prepared is always a good idea. Step small, steady steps and your growth is more likely to be sustainable.