Managing an expansion is a difficult task. Should you be overzealous or over ambitious, you could end up doing your business more damage than good. Equally, it’s important not to be overcautious, subsequently missing opportunities. It’s up to you as a business owner to find the right balance and largely, your knowledge and experience will dictate this.
That said, there are steps you can take to ensure you navigate the process more smoothly though. Here’s some things to consider before you undertake a big expansion…
With expansion, comes the need for extra staff. Integral to this process is a HR manager, so make sure they’re amongst the top of your recruitment priorities.
Their expertise should ensure that you bring in the right staff, whilst simultaneously, they can also help manage the many issues that can arise in the workplace. Elsewhere, get an operations manager in place. Bringing their expertise into the business will assist the expansion process, their presence ensuring that everything needed to handle the scaling process is put in place and has a process.
With this additional recruitment, you’re going to need to restructure. Establishing middle management layers is a wise idea, as this helps to ensure that each section is looked after by a safe pair of hands.
For each section put a manager in place and get them to issue you with weekly or monthly reports. That way you can still keep a keen eye on your business, whilst leaving the day to day running of the various facets to other, capable hands. Your efforts and energies can then be placed elsewhere.
Embrace or update your tech
With our increasing reliance on technology for all manner of things, It’s worthwhile examining each area of your business, checking that each area uses the best software. If you’re not already doing so, consider using software that’s web based.
These web, cloud-based systems, are normally more capable at handling expansion. Often you’ll find that these web based software providers charge a monthly price per user, offering a cost-effective alternative to the massive capital outlays on software and servers that would be required in-house.
About The Guest Author: Mark James writes for Crunch Accounting and contributes to a range of business sites. Outside of work, he’s a huge soccer fan.
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