Here’s our expert advice for smoothing out the process.
The natural state for the majority of business owners, at any given time, is more than likely the desire for sustained, but just as issues occur when revenues take a turn for the worst, the same can be said for when everything's 'on the up'.
While the transition from one to five employees, for example, is less likely to be a complex process, the build from a 'medium-sized' business into something significantly bigger can often be the most difficult.
“With this in mind, delegation is crucial to promote growth and cope with it when it occurs,” entrepreneur Tammy May says in an article on the startupsmart website.
“Of course you need good people to do this and I have found bringing experienced managers into the company has not always been the answer. Therefore promoting from within is a great option.”
According to May, when a business approaches a point where it will become “too big to keep all the procedures and systems in your head”, the development of documentation that can be easily understood by staff is key.
“This means that even when you’re not at your business, your team can always fall back on a system or procedure relevant to particular situations or issues,” she says.
“Every company goes through growing pains,” says startup expert Dan Reich. “And no matter the company size these problems will always exist. It’s just that the pains will be different as the business grows.”
“A 300 person organization feels the same pressure that a 10 person organization does, but early stage companies don’t have the resources that a later stage company does,” Reich writes on the Forbes website.
“As a result, it’s often very easy to get caught up 'in the business' without ever thinking about how to work 'on the business'.”
Reich agrees that well-formulated “goals and documented responsibilities” will inevitably act to “hold everyone accountable”.
“Without accountability, there will be complacency and complacency will lead to a slow death.”
Software development company owner Kuty Shalev likens the growth process to raising a child, as “your business will begin to take on a life of its own”.
“A lot can happen between the ideation and the growth phases of a business and how a company or product turns out isn’t always what you imagined,” he says on the Entrepreneur website.
“As your business changes as it matures, you’ll need to 'parent' it through the ups and downs.”
“While growth doesn’t happen overnight, you must prepare for it ahead of time,” Shalev says. “Develop an organizational structure for your business, identify the types of people you need to hire within this structure, and figure out who will be in charge of what.”
“As your business begins to tell you where it needs to go, you’ll find yourself becoming something of a bystander - more of a guide than a leader. And that’s what all good parents should hope for.”