Small business agony uncle James Caan gives tips on how to grow a business
Dear James:
I’m an entrepreneur and have built my recruitment business to over 50 employees, but I’m starting to feel a change in the company. I am losing the personal element of the business and need advice on how to keep the culture and personal feel, yet grow the business at the same time.
Craig Montgomery
James says:
As a business owner, and having built businesses from the ground up, I have been in this situation many times. Inevitably you will have to grow if you want to increase profits but you should also explore options within your business where technology could have an impact on your working procedures.
You need to lead your business and to do this you yourself have to evolve. That doesn’t always mean you will like the decision you have to make, however you will definitely see a big difference. Once you reach a certain size, and its sounds like you are at this point, it’s no longer possible to manage everything and everyone: the art of delegation in this situation is key. Managing your time more effectively will give you the headspace to choose what is and isn't important in the business it gives you the opportunity to step back and think about how things can move forward.
The culture of a business is extremely important - try to focus on continuously promoting it not just within your organisation, but externally with consistent messaging, PR and branding. Something I encourage in my own businesses is to share information - simple internal communication strategies can be the difference in keeping your team motivated. Regular communication, newsletters, team meetings and monthly management team updates whilst ensuring you have a shared vision with the team will ensure the soul of your business is intact.
Look at the structure of your organisation and the way you communicate with your employees, look at the hierarchy of responsibilities and the change in teams as they grow. Most great businesses of this size have a handful of truly great influencers, those are the key people you need to focus on. I would say manage the 5 not the 55 and impart on them the passion, culture, ethos and drive you have so they can then disperse this through the fabric of the organisation for you. Having the courage to give the autonomy to your most trusted and advanced colleagues will ensure they eventually perform your old tasks faster and better, freeing up your time to grow the business more strategically and focus on the most important things a leader should be focussed on.
The realisation of knowing that now your business is of a significant size that
you can no longer reach your goals on your own is key. It's therefore no longer
your vision but 'our vision' and these statements and this collaborative
approach will engender a collectiveness meaning that the rest of the company is
living and breathing the vision.
