Growth is good, BUT only if stabilised

“๐’๐จ๐ซ๐ซ๐ฒ, ๐ฐ๐ž ๐œ๐š๐ง’๐ญ ๐ก๐ž๐ฅ๐ฉ ๐ฒ๐จ๐ฎ.ย 

๐–๐ž ๐š๐ซ๐ž ๐ญ๐จ๐จ ๐›๐ฎ๐ฌ๐ฒ.”

Can you imagine, saying no to income?

Words, painful to hear, and no doubt painful to say (for some).

Whenever l hear this, I imagine:

โŒthe company is reactive to the market,

โŒhas inefficient systems and processes to cater for an influx of demand,

โŒlacks infrastructure to carry out the work effectively; lacks – employees, right mix, skill level, structure etc.

Donโ€™t get more wrong, there are many factors for not committing to more work than one can handle โ€“ I get it!

Saying no to prevent:

โŒover committing,

โŒunder-delivering or

โŒunder-performing

are all valid reasons.

But saying NO is not a problem any ๐š๐ฆ๐›๐ข๐ญ๐ข๐จ๐ฎ๐ฌ business owner wants to say.

Take control of your destination.

Here are some suggestions on how to take control:

โœ” Always qualify leads. Donโ€™t just say no straight away.  

What if the job is worth $100k of Sales and 40% GP? Would you be quick to say no then?

Take the time to understand the client and their requirements.

The client may have ongoing work for the business – and not be a once off sale.

โœ” Determine whether the job can be postponed.

If you take the time to talk to prospects, you may find that they are willing to wait.

Also some of your existing clients may be flexible or accept slightly delayed deadlines.

Or other work may be ahead of schedule. Always check.

โœ” Strengthen your workforce through efficiencies, automation and process improvement.

There are many ways to make a company run smoothly.

Process improvement through automation and operational efficiencies all work towards having less daily fires and more time to work on improving your business.

There are always ways to improve a business – you just need to find the time and expertise to work on executing (and monitoring) the changes.

โœ” Outsource work to preferred suppliers .

Have a list of trusted suppliers / contractors which can assist during growth periods and / or alleviate some of the short term pressure.

Any outsourced work should go through a rigorous Quality Control process prior to the demand peak. 

The responsibility of workmanship must always lie with company delegating the work. Never presume it is accurate or complete – always check.

โœ” Hire more employees (short term, long term or contractual).

Hire employees after an extensive interview process. Always hire slowly – it will cost the business more in the long run if you don’t.

Understand what is needed for your business to stabilise during this growth.

Only hire after a review of your systems, processes and automation opportunities have been exhausted or implemented first.

โœ” Have strong Quality Control reviews within the company. 

Delegate the review process to someone other than the business owner. 

Being busy or tired can result in a higher likelihood of errors or sloppy work.

This can be costly for a business through the repeat of work – by fixing mistakes, and worst giving the business a bad reputation where clients do not come back for more.

โœ” Be consciously aware of the YES’ that are being committed.

Where is the company focusing its time and energy?

Reassess and alter accordingly.

Be deliberate in what you take on.

Rapid growth can unstabilise

a business and cause

burnout within the workplace.ย 

Take control over your business, before it takes control over you.

Please reach out if you want to know more. Thank you !

Written by Fotini Pratis

Tranquil Consultancy 

0416 165 987

Photo credit Dan Freeman (traffic)

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