101 Managing Growth
If success is the goal can you ever have too much of it? If success comes all at once, the answer could be “yes,” which is why we’ve collected a handful of suggestions of how to manage growth:
Stay focused. Your numbers keep growing. That’s a good thing. But it’s important not to focus on them.
“Don’t get so wrapped up in growing revenue that you neglect the systems you’ll need to support a bigger organization,” says Donna Fenn, a contributor at Work.com. “Get your HR policies in place now so that you’re ready for a larger staff.”
A hire power. When you are ready to expand your workforce, don’t let your current success sway your judgment.
“When you’re growing fast, it’s tempting to hire anyone who walks through the door. Don’t!” Fenn says. “Now is the time to be picky since you’ll want a team with the skills and temperament for fast growth.”
Guarantee satisfaction. Keep in mind that your success does not always correlate with your customers’ satisfaction.
“When you’re growing quickly, good customer service can slide down hill quickly—and you may not even be aware of it until you’ve created angry customers,” says Fenn. “Monitor your customers’ satisfaction on a regular basis and ask them what you can do better.”
Communication is key. The best way to be effective is to be upfront.
“Over-communicate in times of crisis or stress, even when it’s positive stress about what to do about so much growth,” says Avi Karnani at ToiletPaperEntrepreneur.com. “Everyone wants to see a success story, and they’ll do what they can to pitch in when asked and given a view into what’s happening.”
WBJ Web Partners
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