How to Spot That Your Business is Growing Too Quickly

May 28, 2010 by  Filed under: Management 

Although, of course, we all want our businesses to grow and most of us are eager to achieve success quickly, it is possible for a business to expand with too much speed and this can often be as dangerous for a business as no growth at all. Realising business success should be a marathon rather than a sprint, as steady growth is more likely to establish you as a long-term success story rather than a flash in the pan. If you do not want to fall fowl of cash flow calamities among other things, then you should be constantly aware of your business’ temperature. There are indicators that things are moving too fast within your business, so keep an eye out for them.

No Room at the Inn.
When your workforce has out-grown your business premises it is surely a sign that things have not followed your original plan. If you can no longer all fit comfortably into your work space, you may be moving faster than intended. Of course over time you will naturally grow and need to move somewhere larger, but if this happens before your lease is up it might be time to check your speed.

Temporary Insanity.
If a quick roll call of employees reveals that more than half are not permanent staff, you may have overdone it on the temps. Of course there will be times in the life of every business when you need to get a little help from contract workers, but if the reason your workforce is so impermanent is that you simply haven’t had time to recruit new members of staff things are probably moving too fast for comfort.

Morale Dilemma
When everyone on staff is doing three or four jobs and no one seems to be doing the job that they were actually hired to do, the chances are you are experiencing too rapid growth. When a business grows quickly it is not unusual to add and keep adding to existing employees’ responsibilities as there becomes more work than can be handled comfortably. Take a step back and look at the people you work with, are they on the verge of leaving your business for the offer of a more sustainable work load? Low morale in a workplace can be very contagious, especially if everyone else is struggling to cope with duties that they did not expect and haven’t been trained for.

It is not difficult to prevent these problems from arising, simply keep healthy communications going between everyone involved in your business and you will learn when employees are unhappy; don’t slide into quick fixes like agency staff and take time to stand back and view your business from a slight distance. If you recognise the signs that your business is growing too fast early enough it is much easier to rein growth in and stop things running away from you. Growth is good, but out-growing your planned development too quickly means that your business will be running you rather than you staying in complete control.

Visit Accountants in Bristol, a firm of accountants and business advisors specialising in small business. Find out how we can help your business grow. http://accountantsinbristol1.co.uk

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