| Share facebook | RSS

0
Comments

World Report View

Overcoming Growing Pains: 5 Tips for Small Business Owners

by Paisley Hansen | 23-04-2022 08:41 recommendations 0

Getting your small business off the ground is exciting. As your company grows, you encounter new opportunities and challenges. At some point, however, you will likely experience some growing pains as you face the demands and responsibilities of an expanding business. Fortunately, there are some simple steps you can take to overcome these challenges and grow your company successfully.

1. Refine Your Vision

In the early days of your business, you probably spent a lot of time on the basics: location, logistics, funding, manufacturing and more. At that time, your goal may simply have been to turn enough of a profit to survive. Now that your business is established, you can narrow your focus and set specific goals for the future.

As you set goals for your brand, consider the needs and wants of your customer base. Figure out what they are asking for, whether it's a new product, more shipping options or a better mobile user experience, and use their feedback to shape your goals.

2. Delegate Tasks

Many small businesses start with one person. As a small business owner, you might be used to making every decision, answering every email and putting out every fire. As your business grows, however, it's no longer realistic for you to do everything. Fortunately, you no longer have to.

Once your business is earning a steady revenue, it's time to hire employees and start delegating tasks. A customer service team can respond to customer emails. A warehouse manager can oversee order fulfillment. It may be hard to let go of these responsibilities at first, but building a team to share the workload is essential to the success of your business.

3. Evaluate Your System

When growth happens, it's important to be prepared for it. The system you have in place may have worked smoothly when you were receiving 10 orders a day, but will it deliver the same results when you're receiving 100 or 500 orders a day? Take the time to evaluate your production and distribution processes and ensure that you can scale them to fit increased demand.

This is a good time to hold a brainstorming session with your team and discuss what parts of the process could be streamlined. Even a seemingly minor issue, such as laggy software, could cause major disruption with increased order volume. Listen to all of your team's concerns and modify your processes to prepare for growth.

4. Know When To Say "No"

When starting a business, it might make sense to welcome every opportunity with open arms. At some point in the past, this attitude may have worked for you. However, as your business becomes more successful and you develop your brand identity, you must be more discerning about which opportunities you accept.

If you're a people pleaser, this can be difficult. Disappointing others never feels right. However, your main responsibility as a business owner is to look out for your brand, your employees and your customers. If an opportunity isn't right for your business, it's okay to pass it by.

5. Avoid Burnout

Running a small business requires time and dedication. For many new entrepreneurs, it's easy to neglect personal responsibilities and self-care while building a brand. As your company grows, your professional responsibilities increase, and so does your stress level. Making time for your family, your friends and yourself may become more difficult during this period, but it's also more important than ever.

Maintaining a healthy work-life balance is critical. While you may need to work long or odd hours, you should set as many boundaries as possible around your personal time. Make your team aware of your boundaries, let them know when you are unavailable, and make sure someone is available to answer questions and handle situations in your absence. Reasonable boundaries are the key to avoiding burnout.

Growing pains are normal for small businesses. By staying focused on your vision and relying on your team, you can navigate this new chapter with minimal disruptions and enjoy growing your brand.


no image

  • Dormant user Paisley Hansen
  • recommend

0 Comments

Post a comment

Please sign in

Opportunities

Resources