• There comes a time when any successful business grows to such an extent that it is simply no longer possible to operate in exactly the same manner as when it began

• With increased revenues come increased responsibilities, more to worry about and inevitably more outgoings

• Knowing how best to manage the seeds of change is key to pushing on and reaching the heights you know you’re capable of reaching

In This Guide

• A growing business needs many things to thrive and it might not always be obvious just how you go about taking the leap of faith from startup to a small or medium sized business

• That’s why in this guide I’ve listed some of the most important areas of consideration to help you recognise how best to meet your own growth goals

Goals

• Before you can fully begin to understand the steps you need to take to build your business, you need to recognise how you’ve got this far…

• First up, you’re doing a good job, well done! Cream always rises to the top and if you’re good at what you do, and other people know this, you’re inevitably going to become successful

• Streamlined processes and simply being organised can maximise your efficiency, productivity and profitability. If that sounds like you then keep up the good work! If it doesn’t, you already have your first steps mapped out for achieving success from business growth

• Having grand designs and thinking big will help to drive you on, but what are the practical implications of your business’ growth spurt?

• Take a look at these key considerations, one by one, to break down the areas for focus in building your business without breaking it

• Going from your backroom to a boardroom doesn’t happen overnight but there comes a time when every serious business needs some more serious space

• Even in age where telecommuting, remote working and online conferencing are popular and have revolutionised modern working practises, there is still no substitute for spending some straight up face time with your team and your clients/customers

• Assess your business’ own individual needs and identify the most suitable environment in which to operate from

https://www.flickr.com/photos/osterwalder/418049088/

Location location location! Is footfall important? Remember that a good site with high traffic is going to come at a premium

Accessibility – Do you need to be easily found or do you just need somewhere for your team to be housed together?

Room to grow? – If your business continues to expand at such a pace, will you have the space to grow into, or would it mean another disruptive and costly move 12 months down the line?

• Behind every major brand are the people that built that brand and a business is only ever as good as its staff

• Be sure to take your investment in talent seriously. Never cut corners and get stuck in a situation where your desperation to fill roles sees you picking from the best of a bad bunch

• Take a long term approach and accept that the right people won't always be available at the right times. If need be use a specialist recruiter for your industry. For example an e-commerce recruitment agency will be better placed to source you the best candidates to help you staff your online store https://www.flickr.com/photos/86530412@N02/8931832451

• Don’t let technology hold you and your business back. You need to invest in the right equipment in order that everyone can operate at peak efficiency

• Getting the balance right between performance and cost is a very fine line to tread

• Over spend on gear you don’t need and you’ve wasted precious funds BUT cutting corners with kit that isn’t fit for purpose will have long term implications

• Consider future proofing your business by making a healthy initial investment up front so you have room to grow into the capacity of your hardware

https://www.flickr.com/photos/blakespot/5182252161/

• Ensure that you have considered the equipment and hardware that’s going to be mission critical to your expanding business

• Do you have an up-to-date office phone system?

• Do you need printers, scanners and photocopiers? Or can your office survive going paperless?

• Would staff benefit from top end Plantronics headsets in order to work more efficiently (wireless headsets leave your hands free to get work done whilst on a call)?

Funding your Growth

• If you’re serious about expanding your operation and growing your business tenfold then you’re going to need the capital to back up your ambition

• Prudently stockpiling cash reserves is one way to go about things but this can stunt your growth all the time you are waiting to reach your financial targets and withholding investment as a result

• A successful business is one that your bank should be happy to lend to. Speak to whoever you do your banking with and arm yourself with the sorts of figures that they won’t be able to turn down!

• Finding private investors is a great way to attract investment into your business and in some cases they may be able to provide additional business support

• Keep on top of every minutiae of your trading income and expenditure by utilising financial reporting software that can help you better identify where to make savings and when you can expect to reach certain financial milestones

• Most modern businesses rely on a core suite of everyday software applications that are known across the world, but reliance upon these costly programs is beginning to decrease as cheaper (and often free) alternatives are starting to take hold in the market

• Consider LibreOffice or Apache OpenOffice as free but very capable alternatives to the most popular office applications, including word processors, spreadsheets and presentation software

• A great way to save on hardware costs is by fully embracing the power of cloud software. With powerful calculations, number crunching and resource intensive processing being done offsite by your software partners, your desktop hardware won’t need to be quite so high end

• Some of the most popular systems to have migrated to the cloud include:

• Cloud accounting software

• CRM software

• E-Procurement systems

• Performance management tools

https://www.flickr.com/photos/seyyed_mostafa_zamani/5068517046/

• You may very well be the best at what you do, but if you don’t look the part people aren’t going to put their trust in you

• Your web presence is more important than ever and a shoddy website reflects badly on your whole operation

• Make a serious investment in web designand reap the rewards that a first rate website can bring

• If you sell on the web, ensure that you’re using the latest and most secure online payment gateway for transaction processing. Minimise all possible resistance in your checkout process to maximise sales

http://www.asos.com/

http://www.boohoo.com/restofworld/page/home

• The suggestions in this guide are based upon your current business being a success and having the potential to grow

• Don’t start spending money your business isn’t making just because you think things will turn around

• Throwing money at a planned operational expansion is not the way to turn a stagnating business into a blossoming one

• Get the basics right first and ensure you’re turning over dependable revenue before exploring your options for growth

• I hope you’ve enjoyed my guide to graduating from startup to fully fledged small to medium enterprise

• I welcome your comments and hope you will follow me on Twitter