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Expanding Your Business Get Ready With the decision to grow, your company enters a new phase that is no longer business-as-usual. Many changes will occur in all functional areas in order to keep pace with the sales growth that is coming. In order to prepare for these changes, you must remove the barriers to growth in these key areas. What can you do to help you "break through" the barrier more smoothly, in a more controlled fashion? It's all about preparation in the key areas of business that must keep up as you grow sales. Management: Conflicting Vision To keep its eye on the target during these times of change, management must have only one target. Discuss the vision with key managers. State the vision - together. Only managers who believe in the vision should participate in the inner circle. A single vision is crucial - you cannot drive with double, triple or quadruple vision. Limit the key management group to those who buy into the vision. Operations: No Plan Staff can work toward expectations only if there is a written plan that states what the operational goals are. Include equipment purchases and additional staffing in goals and plans. Make sure everyone knows the plan.
Finance: Strangulation Cash is the air supply for growing companies. More production and sales means more cash is needed for inputs, inventory and equipment. Make sure financing is in place, watch cash flow like a hawk and hire or outsource the best financial help you can get. The most devastating barrier to growth is cash shortage. Cash is like air for the growing business.
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