Business Growth: Rate Control For Maximum Success
Business growth is something we all want. During startup, however, you have to balance your business growth rate with your ability to keep on top of the business launch. You don’t want to get overextended because that will cause you to cut corners and your future success may suffer.
Controlling the rate of business growth is difficult to do especially if you are moonlighting. In this situation, you have so many more balls to juggle because you have work issues to deal with as well as business issues. The key to effective business growth control is excellent organization and planning.
Micromanage for Business Growth Control
During your startup, it is more important than ever that you micro plan your major projects. If you sell a 10 node network you will probably quote it by the number of hours for server installation, cabling infrastructure, taking care of the ISP and the telephone company, and taking care of the desktop. To control business growth you need to take this type of calculation to the next level and develop a detailed hourly spreadsheet to account for your hours each week:
Put your total hours and tasks required into a spreadsheet
Break down each of the task’s week by week
Estimate the number of hours you will need for each item during the week
Add in some cushion time to deal with unanticipated issues
Add general administrative tasks, work and family responsibilities, and leisure time requirements into the spreadsheet as well
This type of planning exercise will help you control your business growth because it will be easier to see if you are overextending yourself. An overextended person is a stressed person and a stressed person is not an effective business manager or service provider.
The Bottom Line on Business Growth
To control business growth the best thing you can do is to make sure you have a handle on everything you are working on. Break large projects down into smaller pieces. Fit your projects into the other responsibilities you have whether those are work or family-related. Take a look at your weekly responsibilities and ensure you are not spreading yourself too thin in any one area. This micro-management approach will ensure your business growth rate does not spiral beyond your ability to keep up.