Are you a business owner with a successful company but lately, it’s become “too successful?” Most would say that’s a good problem to have. But when you have a reputation built on performance and delivery, you realize it’s very easy to tarnish that good standing with your customers or clients if you cannot keep up with demand.
When an entrepreneur starts a new business, the intelligent thing to do is hire once the income rolls in. And even then, most will employ slowly to keep the payroll expenses in line with the incoming revenue. During those early times, you wear many hats, which can be exhausting. Still, on the other hand, if managed correctly, you’ll be able to develop a model for future roles.
When you’ve expanded to the point that the amount of work outweighs the number of employees, your business can suffer in many ways. When entrenched in the business’s day-to-day, it’s easy not to notice the early signs of neglect.
The most frequently affected areas are:
Depending on your business type and if it relies heavily on customer service, this area must be a priority for everyone in your company.
Incoming complaints aren’t acknowledged
- Returns are increasing, and people are posting negatively on social media
- Your on-time delivery record is a thing of the past
- Loyalty programs fall by the wayside
- Your service or product is not up to par with your ordinarily high standard
This area needs to be top-of-mind as it keeps people coming back and word-of-mouth, as always, is essential for incoming referrals. You don’t want to risk losing the momentum you built while managing it with minimal staff.
YOUR EXISTING STAFF IS BURNT OUT
When you build a team, hopefully, the goal is to:
#1 slowly build your team
#2 include them in your vision
When your employees understand your big-picture goals, they feel a sense of ownership without ever owning any part of your business.
If you build your team the right way, you’ll know they mean it when they come to you with alerts that they are overworked. You can count on essential pieces falling through the cracks when that happens. And when you reach a certain point without acknowledging that you need to expand your team, it may be too late. Some signs to look for if they’re not coming to your directly:
- More people are calling out sick
- Increase in incoming complaints
- Turnover in staff
For this area, it’s up to you to let your employees know there’s an open-door policy where they can feel 100% comfortable communicating with you in a non-threatening atmosphere. Of course, they need to understand all communication needs to be respectful and professional.
YOU STILL MANAGE MINDLESS TASKS
If managed correctly, every job or task in the company is essential. However, if you find yourself spending time on duties that you can delegate, that can also be a downfall.
When your company reaches a certain revenue point, your focus needs to be all-in on your core business. Responsibilities that help grow your company, not tasks that bog you down and keep you from the heart of what drives your business.
When you consider the above key areas, and your revenue is steady with enough profit to add more expenses, it’s time to invest in growing your team. Slowly as discussed above, but when you hire the right people, your growth will continue to increase.