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Dec 22, 2014

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Easing Your Company into the Next Stages of Growth

During the growth stage, leaders can lose control of their businesses, especially if they have never established the technological, human and financial resources needed to grow properly.
Easing Your Company into the Next Stages of Growth
  You’ve managed a successful start­up and launch of your brand new business. This is something you’ve dreamed of accomplishing for many years, and you’ve made it happen. You did it. However, now you’d like a smooth transition into the growth phase for the business that you've worked so hard to create.

  It is completely smooth sailing possible considering that most new businesses face a multitude of ups and downs during the preliminary years, particularly within the initial year? You’ve likely heard horror stories of what to expect in the beginning, and if you’ve made it through the first year unscathed, kudos to you.

  You’re navigating toward smooth sailing. If you’ve faced ups and downs, don’t let the downs intimidate you. This is completely normal and expected. With perseverance and an all­or­nothing attitude, you’ll achieve your growth goals in due time. The tips below will also help guide you down the right path of the growth process. Just remember to take the good with the bad.

  There’s going to be bad ­­ more than likely anyway. It’s just a factual part of life for fresh business owners. Nevertheless, you’ll get through it if this new business truly is your dream. When you want something bad enough, you make it happen. Make it happen with these eight tips.

8 Tips to a Smooth Business Growth Transition for New Business Owners

Remain Focused: When things get tough, don’t forget why you started, because it’s likely your dream and a deep passion of yours. And when things are good, don’t count your chickens before
they hatch. Remain focused, cool, and professional. Don’t jump in over your head with
expansion ideas just because you’ve found a little success. Wait for the right moment to expand. The last thing you’ll want to do is take a chance on losing what you’ve managed to attain so soon in the game.

Start­up to Professional – Re­strategize: You’re ready to move from an adrenaline driven, somewhat desperate for immediate success, and passionate startup minded business owner to a cool, calm, strategic, professionally minded business owner. It’s time to re­strategize with a fresh game plan.

 As you make this mental transition, you’re shifting your focus from achieving small financial and product goal victories to larger victories such as eventual expansion and more professional methods of running your business to achieve this expansion.

 When re­strategizing, you’ll want to develop a formula to accomplish attainable goals. Once you’ve developed a formula and a plan, take it slowly and carefully. And make sure to review progress regularly so you don’t lose sight of your initial objectives.

Prepare for Rapid Growth: Rapid growth can happen at any time. Be ready for it and don’t let
it overwhelm you or take you under. As your business begins to grow, grow with it and become a better business owner.

Company Leaders: Recognize and embrace the employees within your company that
contribute and have the most to offer. These are the people that you’ll want to lead your strategic teams. Your company leaders may be the individuals who work behind the scenes and are undetectable by outside sources. These individuals are the thread to your business. Leverage these behind ­the ­scenes leaders when you decide to restrategize.

Consider a Partnership: If this is your first business, and you started out on your own, don’t be afraid to consider the benefits of a partnership. Carefully planning a partnership with another natural-born leader could open the door to rapid growth and expansion for your business to enter the next stages of growth. This concept could very well be the direction that your new business needs to take. Even so, if you decide to partner up, make sure to tread carefully when choosing a partner.

Solidify Your Brand: The stronger your brand name and brand image are, the less you’ll suffer if you lose any key members of your team. While strengthening your brand, try to refrain from connecting the brand itself with sales people to avoid the abandonment of customers in the future.

 You want to develop relationships with customers through the brand itself ­ not through the image of specific people within the company. The people make the company, but you want the customer to connect this relationship they feel they have with the employee or salesperson to the brand and not just the person.

It Takes a Team: Every sports team has a star player or two, but it takes the entire team to win the game. It’s the same concept in business. The entire team within your business is responsible for the success that you’ve achieved thus far.

 Never lose sight of your team and what they have to offer the company regarding future growth. Recognize each and every team member’s personal skill­sets that have contributed to the success of your business and consider these skill­sets when developing your formula for success.

Transparent Leadership: As a leader, it’s important to maintain transparency with your team at all times. This creates a loyal, open, and honest relationship. It also creates trust and increases communication. When a leader communicates well with the team, you're guaranteed to find success.

An Exciting Yet Overwhelming Transition

  Making the transition from a fresh new start­up business to a brand name that’s becoming more widely known as your business begins to grow can be both exciting and overwhelming. Run with the excitement while remaining completely focused and ready for anything.

  Leave fear of the unknown at the door and don’t be afraid to take a risk. As long as it’s a well­thought­out risk, some risks are worth taking in business. The risk you take could prove beneficial, or it could set you back, but you’ll never know unless you try.

  Remember, though, that there’s no rush to jump into any risk. You’ve made it this far with your business, just keep doing what you’re doing and get ready for further brand recognition and growth in time. Is it time to up your business's game and prepare for rapid growth? Sapphire Byers is an entrepreneur at heart with a passion for helping others in any way that she can, especially helping others find success in life.

Sapphire Byers started blogging and website building in 2010. She thoroughly enjoys writing about topics to help businesses of various sizes find ways to become bigger and better. In her spare time you can find her scouring the web to satisfy her insatiable desire to keep herself educated on everything and anything that she can wrap her brain around.