At some point, all businesses have to decide to try and grow. Without this push, it’s impossible for your business to get further than a start-up. You won’t be able to start working towards a higher income, as you won’t have the resources to provide to more customers. Of course, though, growth isn’t a simple thing. Your timing has to be right, and you have to take the right steps. All in all, this can make this part of running your own business incredibly daunting. A lot of people make mistakes at this stage, choosing to grow too quickly or too slowly. This post will be going through some of the major areas you have to consider as part of your growth, and when you should start pushing at them.
A lot of companies reach a tricky stage during their growth, where they are getting more work they can handle but not enough to hire someone new. At this point, in the past, you’d have to struggle through, trying to do more work than you’re capable of. Nowadays, though, it’s easy to hire people for one or two jobs and then never work with them again. Websites like Freelancer and Upwork give you the chance to post jobs and have professionals bid on them. This is much cheaper than employing people and will help you until you have the chance to hire.
Of course, you can’t rely on workers like this forever, and you’ll want to look for permanent members of your team, eventually. Finding employees is easy, in the modern world. The Internet provides you with loads of tools to help with your employee-finding needs, with recruitment sites and advert boards everywhere. It can be worth looking up some interview and employment tips before you get started, to make sure you handle everything correctly.
A lot of people will feel uncomfortable taking on this work. Hiring people has loads of strict regulation and law surrounding it, so you have to make sure you’re following the rules. To solve this issue, your first employee should be an HR representative. Using HR recruitment specialists, you can find people to handle this entire job for you. Instead of having to deal with the complicated legal documentation and procedures, they’d do it for you. In some cases, you may even be able to have them find and interview the new employees for you, too.
Once you start to take on more people space will have to become a very serious consideration. It’s impossible to conduct business properly if your employees don’t have a good area to work in. To handle this, you have three different options. The area below goes through these methods, to help you understand the benefits and downsides of each one.
It’s becoming more and more common for companies to hire temporary workers who do their work from home. With a lot of companies becoming solely digital, even with their products and services, some businesses never need a physical office. Instead, you can have people do their work from home in their own time.
> This method is very cheap, saving you money on buildings, bills, and safety compliance, as well as saving time finding and arranging your building.
> You will be able to pickup and drop employees as you see fit, enabling you to scale your costs based on what you’re earning.
> It’s hard to monitor and guarantee that employees are working hard when they work from home, causing issues for companies who want to keep an eye on things.
> Employees in roles like this often feel like their role isn’t secure, making it hard for you to keep them happy.
Of course, not all companies have the ability to handle all of their work with employees at home, and you might need a physical office. There are loads of companies out there which offer completely managed office solutions. This sort of service gives you a space to work, without having to deal with the little things like legal documents and finding the property itself.
> This sort of solution is easily scalable, allowing you to subscribe for more or less space as you need it.
> It’s almost as hands-off as having people work from home, except you retain the ability to watch and work directly with employees.
> Managed offices are much more expensive than having people work from home, as you pay for all of the things which come with a building.
> Though separated, you will be sharing your building with other businesses. This could present issues with security, depending on the type of company you run.
Finally, a lot of businesses choose this last option, as it’s the most traditional. Owning an office or business premises takes a lot of work, as you will be in control of everything. Unlike having a managed office, you will be able to choose its exact location, giving you the chance to choose the best spot for your business.
> You have complete control over the building you work from, being able to alter its appearance and functions as and when you please.
> This is the most secure method, giving you both access to your employees and a stand-alone building.
> Owning an office is the most expensive option on this list, costing you money in all areas, from cleaning to an estate agent to find the building for you.
> You will be in charge of keeping the building clean, safe, and secure, giving you a lot more work to do than the other options.
Once you have a group of staff and a place for them to work, you’ll have everything you need to spearhead your growth into the future. Now, it’s just a matter of working hard and maintaining your dedication to your company. With good employees, your business will be able to accomplish great things. If you fail to take this stage seriously, though, you could suffer severe consequences. A lot of small organisations only get one chance to grow. So, when the time comes for you, it’s critical that you take it.
Hopefully, this post will give you all the help you need to get started on your own growth. Most small business issues and challenges can be solved with just a little bit of help. It might take some money to get you where you need to go, but anything you spend here can be seen as an investment in your business. It’s easy to be lazy or give up with your company when times get tough. These challenges will only make you stronger, though.