By Jeff Rebh
So you had a good idea, created a business around it and it took off. Now your company is growing at an extremely fast rate and you’re trying to keep up. Maybe you knew this would happen, maybe you didn’t. Either way, you need to evolve with your company as it grows. Slow and steady doesn’t always win the race, but if your company is sprinting toward the finish line, you need to learn how to keep up. Here are some things you should consider.
Find a Mentor
The first step to success is knowing that you don’t know everything. So find a mentor you trust and look up to. They can help guide you through your growth. Chances are they’ve been through some of the same struggles you’re facing now. Listen to them. You don’t always have to agree with their advice, but you should consider applying it your business.
Cut Out the Bad Apples
If you’re growing at a fast rate, keeping up with demand can be hard. So cut out the bad apples. Who are the customers who don’t appreciate the value of your product? Don’t discount your product, find others who are willing to pay for it. They’re the ones you want.
Speaking of customers, don’t put them on the backburner. Your early customers chose you for a reason. You need to make sure you can keep them happy and deliver the same high quality you started with. If you take too many shortcuts and your product suffers, so will your customer base.
Create Short-Term Goals
Don’t blindly follow the company’s success. Set goals. Know what you can and can’t handle. Don’t just set 10-year goals. A lot can change in that time. Set short- to medium-term goals. You’re growing fast, so things can change within months, weeks and even days. Remember, long term goals are just the accumulation of short- and medium-term ones. Don’t let your long term dreams get in the way of what needs to be done now.
It’s hard to let go. That’s understandable, but your company will go further if you’re the one delegating the tasks. You shouldn’t be spending your time on the tedious things that your team is qualified to do too. You need to make sure all the wheels are turning and heading in the right direction. If you’re too deep in the trenches, you won’t be able to see the whole picture.
Surround Yourself with a Good Team
OK, not just a good team. THE team. You should hire people that not only are smarter than you, but that are also passionate about your company. They’re the key to your company’s success. If they aren’t 100 percent behind you, you’ll have an uphill battle. They should be advocates for your business.
Yes, yes, this is all easier said than done. But these points are good to keep in mind. Don’t fizzle out because you couldn’t keep up.