I love to work on the issues that face companies that are experiencing rapid growth. As my own company grew, I would visualize that growth as an ever expanding circle. To keep the growth going it was important for me to pay attention to every aspect of my business so that one area didn’t hinder the overall expansion.
When a product takes off, the forward momentum of sales growth will continue until something stops it. Hopefully that something is marketplace saturation. You don’t want internal problems to be what slows you down. So build scalable systems that expand as you grow. Some of these are obvious, like a computer or telephone system. Others are not so obvious, like a commission structure that will support an increasing number of salespeople.
During growth, I learned that you can never hire and train employees fast enough. It’s common to feel like you’re always in a defensive mode. In most cases, growth will require you to spend money more quickly. For many business people, that could feel like too much risk. But try not to worry about keeping your costs down during accelerated growth. Cutting your costs will most likely reduce your sales and your growth could come to a screeching halt.
President, Business 360 Northwest