BUSINESS GROWTH MANAGEMENT
By: Steven Z. Freeman
Identifying the ability to grow and making this growth happen is every business owner’s goal. This desired growth will usually occur by following 3 main steps:
- Upgrade marketing efforts
- Project the company’s required needs to properly accommodate the larger customer contact volume, product, or service production
- Increasing administration to properly balance with the growth in sales is critical to maintain this sales level and stage for continued growth.
The typical Small Business owner usually wears too many hats for proper growth. Delegating tasks is critical to properly service the new company size. It’s time to look at other options when the business owner identifies there is too much work for one person to keep the customers happy. Knowing when and how to increase staff will help for an easier transition.
Evaluate Staffing Needs:
- Break down and Identify specific tasks. Group these tasks by company departments to identify how each set are different and distinct.
- Within the department groupings, order the specific tasks by skill levels required plus equipment and technology available to accommodate these tasks. Always look for projecting forward movement with staffing and equipment/ technology upgrades.
- Determine the proper staffing needed. With the tasks specifically identified, commit to hiring additional employees or look for outsourcing opportunities. Order volume is up, customer service needs are higher. Administration will also need to be increased.
- Identify Outsourcing opportunities as part of the scenario to minimize the need for additional facility size and equipment purchasing. Outsourcing can harness the combined skill levels and owned equipment at a lower cost allowing the business to fill in the company’s employee staffing gaps.
Presenting the ability to service customers properly will allow for the company to accept even more customers and growth in the future.
Steven Z. Freeman, CPA and the staff at Freeman and Associates provide Business & Tax Planning and Accounting and can assist you with these services. If you have any questions on this matter, or to schedule an initial consultation, Please call us at (805) 495-4211.