Updated: 3 days ago
An entrepreneur client of mine has defined very ambitious objectives for his business: doubling the size (both revenue and staff) over the year. Such a plan has substantial implications. For instance: growing from 50 to 100 staff requires adding 1 new employee per week. Where can they find them? Is there a proper structure in place to short-list candidates, invite them to job interviews and recruit the right people at that pace? Business expansion will impact the organization at all levels. Designing, executing and maintaining an efficient scaling up strategy is therefore critical.
There are hundreds of questions to answer. How to generate revenue to sustain the growth? Are the goals aligned with the company's purpose? How many staff to add and which departments? Whom to promote? Should a line of middle managers be hired? How to maintain business efficiency while expanding? How to keep all staff happy and engaged? Should the premises move? Someone needs to ensure that questions are raised, priorities defined and issues resolved. With small businesses, such responsibility usually falls on you, the founder.
However, it won't happen if you find yourself stuck into day-to-day operations. Scaling up requires that your role evolves towards less operational and more strategic responsibilities. The larger your company, the more strategic-focused your role becomes. Let me share 4 things you should not be afraid of doing when scaling up:
Let go. Recruit the best people and learn to trust them.
Delegate more. Make a list of the operational tasks that fall under you, then assign them to the people who will do them better than you. Provide training if necessary.
Schedule strategic thinking sessions. Put yourself into a situation where you do not have the choice but to think strategy. Brainstorm with your staff to make you more accountable.
Seek external help. Hire business consultants or business coaches to work on your business strategy as well as a plan of actions.
"Be the change you want to see in this world." (Gandhi)
Helping business owners think strategy is what I do best. Schedule a conversation with me to go through your business expansion plan.