This means that even when you’re not at your business, your team can always fall back on a system or procedure relevant to particular situations or issues. As we grew the business, we introduced performance evaluation, better information systems and strategic planning processes. Integral to this is the collection of data. Gathering the right data […]
This means that even when you’re not at your business, your team can always fall back on a system or procedure relevant to particular situations or issues.
As we grew the business, we introduced performance evaluation, better information systems and strategic planning processes.
Integral to this is the collection of data. Gathering the right data allows you to predict more accurately what’s next.
Getting your priorities right
Any business experiencing growth needs to know where it is going to be today, next week, next month and next quarter.
Setting goals is part of this process and helps create growth as well as cope with it at the same time. It keeps your team focused, and is a way of imparting where you want things to be heading because it is not possible for you to communicate with every staff member once you grow.
So, to keep everyone aligned, try setting five top priorities for every quarter. If you have different departments in your business, ensure that their top five priorities are aligned with the company’s overall priorities.
Keep talking
Communicating these priorities and keeping the whole team and the business on track is likely to result in regular meetings.
At MyBudget, we have a daily huddle for all our staff, which is capped at 15 minutes per group. The huddle allows staff to talk about progress towards a goal or identify the barriers blocking us, as well as looking at the daily metrics.
Further to this, everyone at the company meets for a one hour weekly meeting with their team to discuss feedback and metrics as well as using half the time for problem-solving.
Growth should be sought by every start-up business to take it to the next level. However, it’s not the growth that is the challenge for start-ups, but rather knowing how to handle it and prosper from the change it brings. Get prepared for growth now so that you don’t have any nasty shocks down the track.
