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Page 1 of 2 Most business owners have dreams of growing their businesses big. If you are one of those business owners that wants to take your business to the next level, have you ever thought about whether or not your business can grow? More specifically, if sales increased 100% a year for the next five years, could your business handle it? Some businesses fail when they finally get the sales they have always wanted, simply because they were not ready. To help ensure you and your business are ready, I want to give you five ways to prepare your business for rapid growth and expansion. These tips do not explain how to grow your business, only how to get your business ready to withstand the growing pains.
Make the hard decisions now. If you have an employee(s) that is dead weight or causes too much conflict around the company, don't wait to make a replacement. If you have a vendor that keeps messing things up for you or giving unfair prices, change vendors now. Do you really want these people in on the ground floor ready to ruin everything when you finally make it big? Besides, if you can't make difficult decisions now, you wont when your business is bigger either. The failure to remove the bad eggs in your organization could be exactly what is holding you back. Write processes. I know I've mentioned it before, but I cannot over-stress the importance of processes. It removes the subjectivity from your operations, adds value to your organization, and will allow for better management of your various activities when you are not able to be part of everything at once. Processes include how-to guides for everything your business does, as well as step-by-step guides for internal processes like idea generation, sales, conflict resolution, and more. Document the positions. You may be a one or two person show right now, but there are still many things that get done. Marketing, finance, operations get you started, but what are the specific, front line positions? What are the tasks of the position, and how do you hold the person accountable for getting the job done? The book entitled The E-Myth, Revisited by Michael E. Gerber gives some great help organizing all the positions you have in your company. If you get all these positions documented, you will know exactly what you need when it comes time to hire employees. Not only that, you will already have a plan to hold the new employee accountable for getting the job done. Set goals. Sounds simple, but you need to be financially specific. As part of your business plan, set financial goals for the next five years. Project your income and expenses, and make proforma income statements. This will help you stay on track and help you figure out if you are really succeeding. Ask yourself questions. These questions will vary from business to business, but you need to make sure all your ducks are in a row. How long will your suppliers be able to keep up if your sales projections come true? How long will your office space last? Where will you find good employees quickly? When will it be time to hire new employees? Will your bank grow with you? Do you need a lawyer? What laws will be applicable to your business if it grows?
If you told me you wanted to run in the Boston Marathon, I wouldn't take you seriously until I saw you preparing for the race. Such a race would require a plan of action and extensive training to go from the couch to running 26.2 miles without stopping. The same is true if you tell me you want to grow your business. I will not take you seriously, and neither will anyone else, until you are actively preparing your business for growth. If you and your business are really ready, the growth (and money that comes with it) might just come sooner than you expect! Readers have left 10 comments.  No.1 UntitledWe provide cheap <a href=http://www.gp4runescape.com>runescape money</a> and runescape Gold to reliable customer. <a href=http://www.gp4runescape.com>Runescape gp</a>. <a href=http://www.gp4runescape.com>Buy runescape gold</a> here. Welcome to buy <a href=http://www.gp4runescape.com>Runescape gold</a>. Cheap price, deliver fast, 24/7 online service. <a href=http://www.gp4runescape.com>Buy runescape money</a>,runescape gold.We provide cheap <a href=http://www.gp4runescape.com>rs money</a> to reliable customer. No.2 Untitled
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