The need to scale your company from ten staffers or less to one hundred is a true sign that you are breaking through in your field. No doubt the process comes with challenges, but by carefully plotting your course, you can position your business to achieve even greater hurdles. Below are some principles to consider.
Maintaining Your Company Culture
It is crucial that your workers reflect the values that you consider your core priorities, and this can shift when new people come on board. For this reason, you will want to maintain clarity by carefully articulating what is expected, giving employees direction by letting them know your ‘why’. When everyone is part of a greater mission, they are more likely to embody the main objectives daily.
Integral to maintaining these standards is generally the creation of a playbook that will delve into great detail regarding what is expected. It can cover things, such as dress code, disciplinary procedures, company protocol, and any other pertinent information. A streamlined set of goals and guidelines help keep everybody on the same track.
You Will Need To Form Sub-Teams
As you hire more individuals, you will find that your organization will become more complex and that it will also take on the attributes of an organism. You will no longer have one person wearing multiple hats but will see divisions beginning to form where each person will take on a more specialized role.
To keep everything running smoothly, you may find that sales needs to grow at a greater rate than bookkeeping, for example. You may require more hands in administrative roles, and you’ll need to develop systems to keep the various components of your business structure working together smoothly. Departments will form, and each will need their separate management and leaders.
Identify Where There Is Room For Improvement
Your team will need to be monitored for problem areas once they reach a certain size, and one of the most common issues is poor morale. It is vital that laborers feel sufficiently motivated to work toward company goals, and you’ll need to incentivize the outcome that you desire.
At this point, you’ll also likely experience turnover, and this is tied to the issue of morale. Staff will need to be sufficiently compensated for their contributions to your company, as it costs your enterprise in terms of time and money to train and replace your workforce.
Your Leadership Will Need Time
It simply cannot be avoided that your managers will be green and will need opportunities for learning and for growth. You can provide training, and this will help, however, this is not generally a process that can be rushed. As your leadership team gains more experience, they will begin to settle into their roles, becoming more seasoned and knowledgeable.
Accountability is a major part of this necessary growth, and you’ll need to implement methods for checking in and establishing milestones you would like for managers to have reached. Give a reasonable timeframe for these objectives as well as an infrastructure that will provide support where people most need it.
Most of all, you will need a determination coupled with patience and the knowledge that you will encounter setbacks during this phase of your growth. View these as opportunities for learning, and carry this information forward with you as you adjust your approach in the future.
Fidelman & Co provides startups with oversight to help them create superior presentation models when working to obtain financing from investors in both venture capital and traditional financial institutions. We also coach clients in the areas of fundraising, financial consulting, and management strategies. Reach out to us today, and we will be glad to answer any questions you may have.
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