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Congratulations! You have brought your company to the place where you are growing, and probably, rather rapidly. You have put in countless hours nurturing and building your employees, your company values, and your brand, and your hard work has paid off. But…are you growing too fast to maintain your core values? This is a mistake many companies make, and one that can have detrimental outcomes (even business failure). To make sure this doesn’t happen to you, we’ve provided 3 key business tips for scaling your business successfully:
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Keep your culture alive!
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We know – not another point about how important company culture is. The problem is, it is just that: important! As a company like yours experiences rapid growth, it is vitally important to ensure your proven core aspects grow alongside it. Raj Jana, founder of JavaPresse Coffee Company, wrote a recent blog outlining ways that you can maintain your core company culture. This included being intentional with every new hire. Doing this helps you maintain the integrity of your teams, and it helps your existing employees feel valued. All of this, while helping keep your core values intact – why wouldn’t you do it?
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Re-asses your processes
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While culture, and your core company values, are important to maintain as your company grows, some of your processes might not be…One goal of growth should be efficiency, and we’ve seen too many companies grow and grow, without reevaluating their current processes. The result? Wasted resources, duplication of tasks/ownership, and less efficiency and productivity. As you hire new people and expand your client base, take the time to see what areas you might have gaps in, and give serious thought to how you want your company to run. This will help provide a roadmap you can follow to ensure you scale successfully, vs. failing.
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Invest in outside perspectives
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Investing in outside perspectives, i.e. hiring a consultant, is one of the best decisions you make when you find yourself scaling up and growing quickly. The outside consultant will help also identify and implement ways to change and improve your processes so that you can continue to focus on scaling. This last point is especially important: if you’ve ever been a part of a business that is growing rapidly, you know that time is the one thing you don’t have enough of. BUT, to scale correctly, you need to take time to ensure you’re not skipping a step that will hurt you down the line. An outside consultant will help you truly focus your time and efforts on growing correctly. In the end, all of us want to grow, but not all of us know how to do it well.
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If you are currently scaling rapidly, or are on the brink of doing so, you simply can’t afford to ignore the three examples above. While they are not all of the important things to look out for, they are some we’ve seen either work wonders, or cause company failures. The good news is – they don’t require extreme effort on your part! Look into hiring good help to guide you so you can focus on growth. Let’s all make 2020 the year of scaling, not failing.
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Interested in learning more tips to help you scale successfully? Contact our team at Kim@QuantumMark.com today!
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