When we started CityBlast, it took a lot of hard work. There were a lot of late nights and challenges to overcome, but eventually we figured out a system that worked. But as any business owner will tell you, starting a business is only half the battle.
Running a business that is starting to show some promise can be the real challenge. You'll be both super excited about the success, and feel a certain amount of pressure to keep that money coming in.
It’s crucial that as a business owner you strive for growth, but to be successful you must be prepared to manage that growth and the stress that comes with it.
1) Have Foresight: One of the first things you should do is create a long term strategic plan. This should outline how you plan to run your business, where the money is coming from and what you’ll need to spend to make more. Make sure you explore the full spectrum of scenarios you could encounter (anything from missing your targets to hitting a homerun on a deal).
“Start with the end in mind,” says Stephen R. Covey, author of Seven Habits of Highly Effective People.
Creating a plan like this can be time consuming, but the beauty of it is that once you have it in place, it will cover multiple scenarios meaning you can react quickly to solve any issues that arise. Also, you’ll really only need to do it once. From that point on, you can just tweak things as you go along.
2) Create A Great Culture: Part of owning a growing business is being a part of a growing team. And your team is going to be a massive help in keeping your business moving forward. The best way to motivate your employees to help your business is to make them feel empowered and invested.
JJ Ramberg, co-founder of GoodShop.com was able to tap into her employee’s productivity by taking a unique approach.
One thing you can do is to equip your employees to handle the demands of accelerated growth. Micromanaging is the way of the past and frankly, people don’t like working under those conditions. Instead, you can ask your employees their opinion on how they can accomplish certain goals. This helps them feel like they really have a stake in your company’s success. So ask them their opinion and ask often. A great company culture promotes a great environment for problem solving.
3) Keep Finances in Order: When your business starts gaining some traction, try to stay on budget. It can be so tempting to start spending more money as soon as you get it on things like a nicer office or company car. But don’t spend money just because you have it. It might be a good idea to put aside 2-3 months of funds for a rainy day and then re-evaluate your budget if profit is consistent.
4) Invest in Tech: Having the right tools can be your most powerful ally for managing growth. Many of the top companies cite investments in information and communications technology as critical for driving growth. This can include exploring new streams for revenue, building trust among your clients, marketing your brand or just generally saving you time. As your business starts to speed up and gets rolling, investing in the right technology can really be a life-saver.
Keep Your Cool
Having a rapidly growing business is a super exciting time. Yes it can be stressful, and yes if this is your first time running a business it can be tricky figuring out a system. But once you get the hang of it and are prepared to put in place some forward planning, it really is one of the most rewarding things you’ll do.
Publilius Syrus once wrote, “anyone can hold the helm when the sea is calm.” The sign of a great leader is someone who can navigate through a storm, and to run a successful business, you’ll need to be ready to lead the way.
CityBlast can help you grow your business by keeping your social media up-to-date and looking professional. Sign up with CityBlast today and receive a 30% discount using the promo code savings
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