While rapid business growth is a sign of success and accomplishment, it also presents considerable challenges. Your company may not yet have the infrastructure and support system in place to handle increasing product or service demands. Perhaps you are expanding so rapidly that you are outgrowing your business space, but you may not yet have the available funds necessary to relocate. These and other challenges related to growth must be overcome in order to maintain growth and meet your customers’ needs. However, you may need to continue channeling all available funds to meet sales and service demands currently. These tips may help you to manage growth strategically.
Use Managed IT Solutions
Your company may not yet have a dedicated IT professional in-house, or your small IT department may be struggling to keep pace with demands. Managed IT solutions provide you with a convenient and cost-effective way to scale IT services to meet your needs. By selecting the right managed IT solutions provider, you can receive adequate support regardless of how significant your regular needs may be. You may also obtain assistance for large one-time projects, such as a data migration or a major systems upgrade.
Your growing company understandably may need additional HR, accounting and administrative professionals. However, these and other skilled labor positions may be filled by contract workers rather than full-time employees. Contract workers do not receive benefits, so the impact on your payroll process and tax expense is not affected. Some contractors may be remote workers as well, so you can increase your workforce without needing to expand into a larger office space.
Outsource Customer Service and Support
If your company offers customer service or support over the phone, consider outsourcing your entire service and support department to a third party. The provider will handle all payroll, management and training needs. You can also free up office space that can be used for new in-house positions. Because labor may be more affordable where the customer service provider is geographically located, you may also save money on salaries or hourly rates.
As your business continues to grow rapidly, you must find a way to meet all critical needs promptly while managing related expenses. These are only some of the creative solutions that you can implement to manage growth. Anticipating your company’s challenges before being confronted by them head-on can decrease stress related to growing pains.