So I have to presume that most cases in growth mode have been through the start up phase and have been successful enough to now burst the door down which leads them to a bigger business.
What are some the challenges and opportunities through this phase in the development of the company?
It might be time to attract, interview, select and manage your first employee. Exciting or daunting?
What kind of culture and management style will you adopt?
How will you attract the right candidates for your business?
How are your interview skills? Have you ever interviewed previously?
What is your selection criteria and why?
Regular performance reviews. What when and how?
This is yet another critical time in the journey of your business, so these decisions are so important, and when possible should be made in conjunction with the end goal!
How are your business development skills?
Whilst running the business, recruiting internal employees and selling, how are you going to cope with that lot? What additional support do you require and where is it, how much will it cost etc
I realise it all sounds as if I am deliberately putting you off even trying to grow the business, but again, it’s not easy, and if you can master both using your strengths and recruiting the right people to compliment your skill set then there is a lot to look forward to.
Final word on this part of the journey is to ensure as early on in the process as possible you invest in good financial support. I cannot emphasise this enough. If you aren’t an accountant, or have an experienced handle on finances, then find someone who will provide excellent pro active advice.