As you are quickly growing your business, existing processes, procedures, communication structures, and more are destroyed from being overtaxed. We know how frustrating it is to feel that you must exchange your internal harmony for hypergrowth, but it doesn’t have to be that way. Recently I spoke to my friend, Rusty Goodsell (talk about a cool last name, right?), CEO and Co-founder of New Orchard who gave us some tips on how to scale your business. Here are four steps on scaling your business to not only maintain internal harmony but to also bring clarity to your organization’s mission.
Become Familiar with Vital Company Principles
What is considered vital across mature organizations? Rusty and his team found that strategy, implementation, money, and people are the four key areas that are vital to the success of an organization. Rusty also breaks these four areas down into 47 business principles for a microscopic look at a successful business. Some examples for each area include:
- Strategy: SWOT analysis, strategic planning, business continuity
- Implementation: process and procedures
- Money: cash vs. Accrual
- People: managing culture and defining culture, HR resources, etc…
Assess Where Your Company Stands
Once you become familiar with your company’s key areas you should assess where you are with each one to be able to sustain growth. Does your company have step-by-step instructions, known as standard operating procedures (SOP’s), that are up-to-date, easily accessible, and understood for every process and procedure or do you fly by the seat of your pants? How are you defining your company culture and managing your teams? Is there a general sentiment that meetings are too long? Do people feel free to offer their expertise in meetings? Are people pleased with the virtual team management systems?
Create a Strategy
Based on where your company stands after assessing each vital business area, you’ll want to strategize. First, consider the people on your team and your company’s maturity. It is important to keep this in mind during the strategy process because it will determine what tools, tactics, and techniques you use to execute. Next, identify the areas of your business that are necessary to fix quickly. Once you prioritize each area and figure out what to do to implement the change, you can craft a detailed plan that includes who is responsible for each part and when they are expected to complete their task.
Once the strategy is complete you can move forward to execution. Be patient: organizational transformation takes consistent time and effort. Once you are complete executing the priorities that you identified in the last step, start to execute on lower priorities and work your way through the list.
This Sounds Overwhelming…
If the above steps sound overwhelming to do with no guidance, we highly suggest you listen to this podcast episode on your commute home (if you are one of the lucky ones working from an office), on your run later, or while you are driving your kids to and from activities. Rusty’s software has the ability to assess, strategize, and execute for you within hours. So, feel free to visit his website here.
If you are looking for more tips listen to our podcast and check out our other blogs here. Visit our corner of the internet and follow us on LinkedIn, Twitter (@ebs_growth), and Instagram (@ebsgrowth).