Small business growth is a problem for most small business
owners. Business growth can be stifled by a variety of
things, including the management style of the small business
Making your business
grow won't happen by itself. As the small business owner,
you have to lay the groundwork, do the hard work, and make some of
the risky decisions that most small businesses have to make.
Is Your Company Growing Fast
Enough for You?
by: Chris Anderson
Are you frustrated by the lack of
growth in your firm, or the effort required to squeeze any up-tick
in performance? Are inadequate policies and procedures a root
cause? To find out, take this simple self assessment to see if
this may be inhibiting real growth at your company.
Q. Can you take an extended
vacation without the company falling apart?
A. If you answered “no” then
you have a job and not a business. A business must have a system
of standard operating procedures to ensure the work gets done
correctly, even in your absence.
Q. Can your company handle a
ramp-up in sales and production?
A. Hidden inefficiencies are
often revealed when sales and production increase. If low turns on
accounts receivable and inventory, long sales or production cycles
starve your cash flow, then something is wrong. Your policies and
procedures should document cycle times for your critical operating
Q. Can you effectively add more
people to your organization?
A. Hiring people is simple
compared to ensuring they know what to do and have the resources
to accomplish their job. Policies and procedures provide the
framework for a management system to oversee new employees and
communicate who does what by when.
Q. Does opening a new branch
office, plant or facility create havoc?
A. Expanding your operations to
new locations will test the limits of your policies and
procedures. Did you know that franchises are four times more
likely to survive than a start-up primarily because they have a
well defined operations manual? Are you running your business like
franchises run theirs?
Is your family happy with your work life? If your business demands
too many hours, too much stress, and too little quality time with
your family and friends, then you should do something about it. A
well defined system of standard operating procedures can allow you
take a vacation without worry, increase sales with ease, add
people to fill demand, and open new offices without trouble. Then
your family will be the happiest on the block.
About The Author
Chris Anderson has over 18
years of sales, marketing and business management experience
working with business process design, software and systems
engineering. He is also co-author of policies and procedures
manual products, producing the layout, process design and
implementation to increase performance. He is currently the
Managing Director of Bizmanualz, Inc.