Rapid growth causes overwhelm, especially for small business owners who haven’t taken the time to plan in advance. They set up their business and start the marketing without any road map for growth. Then as new business opportunities come their way, they step up to meet that demand, until one day they realize they have no time for anything else. They are overwhelmed and putting out fires.
I’ve been meeting with a business owner who suffers from rapid growth and no plan to manage that growth. He wants my help with the company’s social media marketing. But the owner keeps missing meetings. He’s constantly putting out fires that get in the way of finalizing an agreement with me. His company has grown so fast, he is trying to serve his customers, take on new jobs, and cover all the bases ….without any office staff.
The business has grown beyond the point where the owner can handle all the back office work – accounting, payroll, taxes, hiring and training – as well as work in the business. Until he gets organized and hires one or more people to run the business operations, he likely isn’t ready for my marketing help.
He has established offices in several locations across the US and is in the process of training staff to manage the local work at those locations. Simultaneously the business regularly gets new projects to take on since it has successfully become the exclusive resource recommended by several realtors in the business owner’s headquarters location. Without staff, he has to serve those customers.
Meanwhile, he also handles back office paperwork and staff training, in addition to marketing and local community involvement. He’s understandably overwhelmed and things are falling through the cracks.
Does this sound familiar? Is your business suffering from rapid growth?
Marketing is not the issue here. Getting yourself organized and hiring at least one other person to handle the back office stuff is the key. If this resonates with you, it’s time to take a step back and analyze what’s happening in your business and the steps you need to take to rectify the situation. This is lesson 101 in Michael Gerber’s book The E-Myth.
Step One – decide what you really want from the business. First, write down the broad goals you want for the business. Then, begin working backward to today following the next steps. Look back at where you started and where you are today. Have you achieved the initial outcomes you set for yourself? Perhaps it’s time to set new outcomes, or a new target to reach for a year down the road.
Step Two – once you set that new target, identify the critical goals you need to achieve in order to reach the new target and how you are going to measure your progress toward those goals. These should include staffing and delegation, financial goals, community involvement, perhaps even head office relocation. Perhaps it’s time to move into a larger space that also affords you storage space for all the business materials you use.
Step Three – look again at your current situation and how stressed you are. What is and isn’t working right now? Analyze your own strengths and weaknesses as a business owner. What do you enjoy most about running the business? What do you enjoy the least? What do you do well and what tasks do you not do well? These will help you begin to see areas where you can delegate once you find and hire the right people to take on these tasks. This will add to the payroll. However, if you don’t do this, you may find your company retracting rather than growing. You have reached the point where you either choose to grow or you lose ground. Companies can’t remain static they must continually adapt and change. There is always someone else ready to move into your territory and take over. You need to get yourself organized and learn to delegate to staff and/or outside contractors so you can spend most of your time working ON your business rather than IN it.
Step Four – Look at the new outcome(s) you want to achieve a year or more down the road. Look at the goals you set in order to achieve those outcomes. Then take a look at your current situation and what is and isn’t working. You should see some areas which become the key strategies to focus on in order to keep growing in an organized fashion and reach the new outcomes. They may include:
Staffing/training: Hiring a COO take over the operational details of running the business, and coordinating the operations at the various locations.
Financial: Outsourcing your financial management, bookkeeping and tax management tasks so you can focus on doing what you enjoy and do best.
Marketing: Outsourcing your marketing and social media efforts to keep your business top of mind and maintain customer satisfaction.
New offices: Relocating out of the small office or even home office may now be necessary, especially as you contemplate hiring a COO, a bookkeeper or CFO, and/or marketing staff.
Rapid growth can be managed with planning.
Planning frees you up to manage your business. You need to spend your time focused on the long range outcomes for the business, maintaining community connections, and ensuring your staff is delivering the quality service you demand for your customers.
Your job is now to provide the checks and balances to ensure everyone is doing the right kind of work towards achieving those targets you set. In fact, keep in mind that the primary job of leaders is planning and managing change. Some of your tasks will include:
- Holding periodic meetings to get updates from everyone on what is working well and what isn’t, and make joint decisions about resolutions to any problems or challenges that arise.
- Keeping people accountable for doing work that ties directly to the critical goals you’ve set in order to achieve those future outcomes.
- Monitoring external factors and changes in the marketplace, the economy and your industry that could affect your company’s progress towards achieving its future outcomes.
The result is that you’ll be better organized, happier, and less stressed. Things will stop falling through the cracks. You’ll be able to make and keep commitments. Your customers will be more satisfied. Your staff will more satisfied and goal-oriented. You’ll have a team that is pulling together in the same direction, instead of trying to do things on their own without direction, and delivering less than excellent service. You’ll have a much better chance of actually achieving those new future outcomes for your business. It won’t be without its own challenges. Things will occur that may derail your progress, but if you revert back to these steps and stay focused on the key strategies and goals, you’ll get yourself back on track quickly.