Business Startup - Stage 5
Start Up Scale Checklist
My idea is working. I want to expand my client base
If your idea is working you probably NEED to expand. If you do not expand you will probably sooner or later be unable to fulfil orders or meet your customers expectations.
You will already know what you seem directly short of. For instance it could be
a) production people, b) larger equipment, c) working space or almost anything else.
And you may find yourself saying "if only I could afford xxxxx" or "if only I had an assistant" we could do so much more.
- Recognise the situation you are in for what it is – absolutely normal hectic business life! Many many people have been there before. You are not alone
- Find the friend you talked to when you set up the business (see stage 1) or find another friend or mentor through the Enterprise Hub (this site), the Entrepreneurs Club (Business Link) or almost any other business support organisation. You really should not have forgotten about networking. This is one of those times when you need the contacts.
- Simply explain your business and its expansion needs again. However this time the mentor should help you look at it all from a wider perspective. Questions you should answer may be:
- Do you really need the new production people or equipment that you are looking for or should you be delegating more and/or making time for you or preferably others to make the existing resources more efficient?
- Would you really be better widening your management team and bringing in complementary skills to your own?
- Is it really all about your time management? Or man management? Or finance?- How permanent is the current pressure for expansion? Can you find other ways to get over the hump until you are sure a major investment is worthwhile?
- If you are already a team and have no time to resolve these pressures MAKE time to meet away from work to discuss the above points - with a mentor if necessary. - Whatever the results, write them down. Just like with the first plan this forces you to think, justify and understand – and then act on them.
- If you need further help and support your mentor should be able to point you in the right direction. If in doubt use the Hub to ask. That’s why it’s here.
Email the Hub 'to help us to help you'