If you lead or own a business, from those early infancy days to the present day, obtaining continual business growth is key. This is true whether you operate a micro, small, or medium sized business, or a large enterprise.
Increasing revenue, managing costs and improving margins ultimately allows you as a business owner to invest in your business and build for the future. So, whether you stick to, follow and implement your original business growth strategy or learn and adapt on the hoof, I believe you can only get so far in leading your business, solely driving it forward on your own.
As the business grows so will demands on your time. Typically, a full-on business owner will be juggling a lot of balls; along with spinning many plates. Therefore, a key success factor for successful business growth is building a team around you. Once you have established a team, investing time to develop these individuals and your team to work towards a collective goal becomes crucial.
Working Towards Business Growth
To start, you’ll need to set aside time to create a business structure and map out the key roles and responsibilities. You will then need to go out and recruit new employees and outsource non-core jobs to sub-contractors and associates. But with being busy with the day to day, this task often gets left to the last minute or rushed through necessity.
By initially spending time developing the hierarchical structure and building your team around you, with the added support from an experienced business consultant, will ensure you can spread and share the load as your business expands. However, as a business owner to meet your growth ambitions you will also need to spend time being strategic too, and working “On” the business. Therefore, it’s good practice to have a trusted network of advisors to support whereby you can tap into seperate expertise as and when required along your business growth journey.
Get the right support from your regional or local community of Business Growth Advisors
One professional adviser you may get a lot of added value from investing time in, for ongoing strategic business support, is a Business Growth Consultant and particularly one who has experience in developing and implementing business growth strategies for SME businesses in Cumbria and across the North West of England.
On first investigation, research online and through social media, Business Advisors and Business Consultants are plentiful and the region is served well by Cumbria Business Growth Hub, Lancashire's Boost programme, business incubators and many business networking organisations. There’s a good spread of ad-hoc business support across the region with the benefit of some of that being free or partially funded. However, the chances are, the advice you will obtain, will only be a useful sticking plaster as your business grows.
The advantage of building a long term relationship with your Business Growth Consultant
Ideally for your long-term business growth plans, you want the on-going support from an experienced business professional who will intrinsically become part of your business senior team. Their role is to support you personally, the business leader, through the good, tough and mediocre times for many years to come.
Before spending money on advice and consultancy, always question whether your time and hard-earned cash would be better invested in a long-term business relationship. It’s about weighing up the advantage of obtaining input and insight from a trusted business consultant with the ability to understand you, the culture of your team and your specific market sector. Do you really just want someone to support you, who is brought in to offer just a state of the nation report, an idea or quick fix? Determine what you think will be most beneficial, long term to you, the business owner and to support your team.
Investing in a business growth consultant is not just a financial decision. It's much more about trust, sharing and taking the time to get down to the nub, the real root cause of the underlying business issues and challenges.
Then, with your “go to” trusted business associate, working alongside you and helping you map out a plan and supporting you throughout the implementation and business change phase.
Want to know more on how we can support you and your business on your growth trajectory?
Well please do just get in touch and let’s set up an initially investigatory meeting, and please note, our first consultancy meeting is free.
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Please note that should you decide to restructure your business you will require additional support.
We can assist through bringing in associates such as:
Organisational Development Specialists
Accounts and Finance Advisers
Digital Transformation Specialists who can introduce technology to improve efficiency in operations, customer, and consumer interaction online and service levels
Covid19 impact and business downturn
Is your business in terminal decline? Is your market not likely to recover in the short to medium term? In this situation it is worth considering professional advice from a Business Insolvency Practitioner. We are more than happy to act on your behalf, should this be a difficult, challenging situation and period for you and your family