One of the most common traits amongst business leaders is the ability to see into the future in terms of where they want their company to go. Therefore, when that time comes, it can be a very daunting and exciting time. This, however, is when mistakes tend to happen, as resting on your laurels isn't enough to take you to the next level. So, if your small business is ready to take the leap and jump into a medium-sized business role, the following information is for you.
Plan and Make Ready to Expand
Simply wanting to expand isn't enough to really make things happen. In order to start the process from a small to medium-sized business, you first need to acquire things such as a big enough space for your employee growth. Make sure that you also speak with your current vendors to begin to order larger quantities of things such as paper, office equipment, and cleaning service personal if needed. Lastly, you will need to set up a transiting plan with your current staff as you don't want the business to stall while you're in a transition.
Here are some things to consider doing when ready to expand:
Having Staff On Deck
Set Strong Company Policy
Automating Your Digital Marketing
Create Customer Support Options
Train and Practice for Multiple Circumstances
Seek Legal Advice/Team
Create a Marketing Strategy
A common mistake made by business leaders who are seeing growth is that they attempt to run a medium-size company with small business tactics. Therefore, you must always create a plan of attack when it comes to going to the next level. If you need more decision processes, the GROW model is considered practical and useful. This will allow your goals to be clear and precise in the eyes of all your current and future staff members. Connecting with a strong digital marketing agency is a great way to have your marketing strategy not only set up by experts that have had experience in the field, but also have that extra team on your side without having to hire in-house which can get very expensive.
Here are some things to consider when creating your marketing strategy:
What do you need from your website
Brand your logo and theme how you want to be reflected in the industry
Create Social Media Marketing Strategy
Create Video Content to get your message out
Create SEO marketing strategy
Find out where the best paid advertising options for your brand are
Have consistent business card designs throughout your company
Create branding kit
Figure out your marketing strategy outside of the digital world (every company needs both)
Communicate With Clients & Get Feedback
Another common error made when transitioning into a larger company is failing to inform current customers or clients. They might automatically begin to think that you're going to lose that small business personal touch and opt-out of working with you. As the leader of your business, it is your job to make sure that the growth of your company doesn't affect your current relationships. Inform your desire to take the company to the next level and assure that their needs will still be met.
Running a business is one of the most fulfilling things you can do. But what happens when that business begins to expand and require more of your talents? Utilizing the tips listed above you can begin to strategically move your business from a small to medium-size business that will continue to thrive for years to come.
Then another important part is listening to your clients on how they like your service/product, things you can do to improve, and then acting upon the audience. A great way to get this feedback is directly from client reviews and what people are saying on social media about your business or product. Make sure to have your social media marketing strategy in place before scaling as this is a very important feedback tool.
Part of expanding your business successfully is having a solid marketing plan. Learn more here about different things we can help you with to accomplish this!