When business owners think of all the key components that go into building a business, their time management is often overlooked. Running a small business is hard work and it is easy to fall into the trap of the day to day operations of the company. Managing orders and staff, working with suppliers, delivery on orders and paying the bills etc etc. All these keep the business ticking over but they don’t make it grow. The key difference between a fast growing business and a static business often comes down to how the owner is using their time. To grow a business you need to devote time and resources to a robust sales strategy. Only by taking the time to do this will your business grow.
The Trade off
If you are determined to grow your business then there will come a time when you are faced with some big decisions. Continue as you are and accept that the company will stay the same size or grow very slowly. Alternatively you actively prioritise strong growth. If it is the latter then either you are going to have to focus on sales yourself or pay someone else to do it. Whether it is the former or later you will have to offload some of the work to another person as you can’t do everything. This will also result in an additional expenditure which you will need to finance. However if you execute the right sales strategy, the extra sales will pay for these additional costs.
Staff or consultant
When it comes to growing your business you have two choices. Either you pay a consultant to help with aspects of your business to lighten your load and enable your company to grow. Alternatively you can employ someone part or full time. We recommend a consultant who specialises in growing businesses as they have experience of the challenges that await you and that knowledge is often more cost effective than trying to hire someone in house.
Conclusion
Time management is a key part to building a successful business. The first step is to identify where you need assistance and then determine the additional cost to your business and how the new sales will absorb them. Growth will only come from a well executed marketing strategy. Let us help grow your business to new heights.