Thinking of the right company structure for growth
Posted on 29th October 2018 at 16:59
When you first started your company, you were probably a one (wo)man band and as your business grew, you took on more people to share the workload. Your company structure developed. But is your current structure the right one for the growth you are planning for your company?
If you are trying to grow your business, it is important to look at your existing company structure. Is it supporting growth or is it the proverbial bottleneck stopping you from growing. Let’s look at a few examples.
Case One – The Solopreneur
You are running your business on your own. You are the sales, the marketing, the finance and the operations department – all in one. In addition, you also do all your own admin. While you only have a few clients, that’s fine but as the business grows you realise that you’re dropping the ball here and there.
Potential clients don’t get called back and invoices don’t get sent once the work has been completed. This makes you look unprofessional. You are also worried that if you get more business it will only get worse. Your business isn’t big enough yet to take on an employee but there are other options.
Have you thought about a virtual assistant? They can take on many of the jobs that you hardly have time for these days. A virtual assistant can return calls for you, sort out your emails, write invoices, even do some of your marketing such as writing newsletters, blog posts or social media updates. You will gain time back that you can invest in providing great customer service and come up with more ideas to grow your business.
Case Two – The Need for Information
As a tiny business, it’s quite easy to gather all the information you need to make a decision. As the business grows, this gets more and more difficult as there is more data to collect and more people to make decisions on different levels. Which marketing strategies bring the most leads? What are our sales conversion rates? How can we optimise our recruitment efforts across different channels?
Using technology is a great way to easily gather all the necessary information. Google Analytics is a powerful tool to not only show you your website’s traffic but also origin and browsing behaviour of your website visitors. Geckoboard can provide dashboards for anything from finance to marketing and customer service to human resources.
There are dozens of other tools available, and we’re happy to recommend suitable ones for your needs and budget.
Case Three – Effective Departmental Structures
Once your business has grown to comprise of different departments, you need to make sure that effective structures are in place. What are each team’s processes? Are there Standard Operating Procedures (SOPs) in place? This is important, so new hires know what it expected of them.
An effective structure is important to keep the business running smoothly. It also enables internal communication as well as helps the business to provide great customer service.
Create the right structure for your long-term business goals
A company can only adapt to change effectively if its structure is set up correctly. Otherwise low productivity, high employee turnover and the inability to grow successfully will ensue.
In order to set up the right structure for your organisation, you need to decide on your longer-term goals. Is to introduce new products or services, expand oversees or simply move from a start-up to a scale-up company? Once the goals are set, you need to create the right strategy to achieve your goals and adapting your company structure is often a key element to reach your big goals.
How Green Giant Consulting can help
As SMEs grow they need to adapt their business processes in response and find that their technology requirements become more sophisticated, both of which can bring about new and unexpected challenges. Our services have been designed to help organisations make the right changes to ensure that they are more efficient and ready to grow by providing long-term scalable solutions to the unique challenges they’re facing.
Please get in touch for a complimentary 2-hour Process Improvement Consultancy session to see how we can help. You can contact Green Giant Consulting today on 0844 259 6210 or visit our Contact page.
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