Like many companies who are in a fast growth period of their business, employees wear many hats and there is constant cross over in their roles. As a founder in a start up company, I have found “structured” growth to be one of the most challenging tasks to accomplish. In business there are always new things to learn and skills to develop. I have identified three keys that have helped and will continue to help me grow in the future.
Trusting Your People
Growth is without a doubt one of the most difficult items to tackle in business. Though overwhelming, it is a great problem to be faced with as it means that the company is moving in the right direction. Managing growth has become a daily item for myself and has allowed me to think in ways that I didn’t think possible.
In our organization one of the most important pieces to growth is to find a team of hardworking and vision-sharing individuals who can be trusted. As an entrepreneur and “doer” it is often difficult to let go of certain tasks and delegate them to others. Sourcing and trusting the right employees allows growth and the scaling of a business to occur.
When you find people you trust to take on an important role within your organization it is important to put them in positions where they can make mistakes and learn from them. Failures teach people important lessons and helps to develop a maturity. Put your team members in positions where they can be successful and trust that they can handle the success.
Being Self Aware
Many people think that GROWTH = SUCCESS. This is just not the case. Growth in the right way will lead to success, but doing it the right way is the key. Being naive and self absorbed is a characteristic that inhibits both personal growth and company growth.
I personally believe that both self assessment and self awareness have helped me better understand where both my personal and my company’s pain points lie. Being self-aware of both myself and our company has allowed me to understand our core competencies, allowing us to continue developing those to get better. Being able to address paint points while growing allows room for improvement, which is crucial in a growth phase. Being self-aware from a personal standpoint means being honest with yourself. If we can be honest and hard on ourselves, we will help alleviate pain points and address them before they get worse.
Keep Your Clients Happy
In an attempt to grow, many businesses focus on the goal of obtaining new client accounts, sales, product development, etc. in order to grow their businesses. Obviously this is a key to growth. But the ability to keep clients and customers happy and feeling valued is the thought behind strategic growth. Clients or customers are the lifeline to any business or organization’s success.
An emphasis must be placed on the ability to keep customers satisfied and valued so that growth can be attained. If a company is very good at landing new accounts with great pitches and presentations but cannot retain a core client base, then growth is going to be very difficult to attain.
Sustainable growth will come with client and customer retention. Keeping clients satisfied will lead to client retention which helps to build infrastructure for growth. If you have a proper infrastructure in place it will allow for growth to happen at a sustainable level.
Growth is definitely something that takes time to achieve. Developing a trust in your people, being self aware and retaining your clients will help to create a framework where success is achievable and scaled at a high level.