Growth is never a bad thing for a business. As your operation changes from a one-man band to a team of 10, you need to ensure that you alter the way you run the company. What worked when you were going at it alone may not be the best approach for a growing business. We have some advice on this topic.
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Over at the Australian Small Business Blog, Dr. Greg Chapman talked about the growing pains small businesses face. He noted that changes are necessary as headcount increases. One of the things that need to be re-evaluated is, of course, the business strategy. Another thing to consider is reducing the company’s dependency on the business owner:
“While your business depends so much on you, there is no time to step back and review it, let alone to take action to change it, so creating time is the first priority. This can be done through outsourcing, delegation and re-organisation. This will require putting in place simple systems that will allow you to pass work onto others to create the space you need. When you stop spending dollar time on penny jobs, you will have the space to take the next step.
You can read more about other changes that you can make to your flourishing company over at the Australian Small Business Blog.
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