Spearheading a rapidly-growing business has its challenges but don’t resist the urge to evolve as the business grows.
Steering a rapidly growing and evolving business is one of the most exciting endeavors an entrepreneur can undertake. If your business is growing, it definitely means you’re doing things right and your market hypothesis is proving accurate. You’re also creating new jobs, breaking new ground and, hopefully, making more money.
While all this can be exciting, shepherding a company through times of rapid growth presents plenty of daily challenges that must be quickly overcome.
By its very nature, growth brings about significant change. The systems, processes, procedures, staffing, financing and other factors that helped your company grow to 10 employees won’t work when you have 50. And what worked for a 50-employee company won’t work when it grows to 100 employees. Nearly all aspects of your business must evolve or be reinvented along the way, from restructuring your leadership team to training your staff to accommodate significant change.