Owning and operating a growing business is hard work. As your sales expand, your resource needs to expand to facilitate it, whether that means growing your team or bringing in more outsourcers. Ideally, you want to be taking yourself out of the daily tasks so you can oversee the business direction. Maybe even reap some of the rewards of your years of graft. So how do you get there?
Set effective goals and be held accountable to them
Everyone has goals, hopes and dreams of what they would like for the future, whether that be a personal goal or something for your business. It’s like you’ve already set some. Sometimes our goals can seem so big and so far off that it’s hard to keep the motivation and the focus needed to achieve them.
To grow your business. And to know you’re business inside and out, you need to be able to constantly review your numbers. When we set up an online accounting system for a small business, those owners get a fresh set of accurate numbers daily/weekly/monthly – not just once per year.
With regularly updated data and the support to understand it, you can grow sales, improve your profit margins, and get cash in the bank. Knowledge is power!
Things to do:
At this point you’ll already know you can’t wear all the hats – shareholder, director, leadership, product/service development, operations, marketing, sales, finance, HR, admin/IT. Now you afford to grow your team, identify where you need help to streamline your processes.
Tip: Determine the role and tasks before you determine the people!
Now would be a great time to utilise your numbers beyond just keeping HMRC happy. If you want to improve performance, you need the data to show you how. This is an exciting time! Let us know how you’re getting on and we’ll explore the best support for you.