Business expansion is something that we all desire. During the startup phase, you must balance your business’s growth rate with your ability to manage the business launch. You do not want to become overextended, as this will force you to take shortcuts, and your future success may suffer as a result.
Controlling the growth rate of a business is difficult, especially if you have a second job. You have many more balls to juggle in this situation because you must also deal with work and business issues.
Organization and planning are crucial to the effective management of business growth.
Micromanagement for Business Growth Management
Microplanning your major projects is more important than ever during your startup. If you sell a 10-node network, you will likely price it based on the number of hours required for server installation, cabling infrastructure, ISP and telephone company coordination, and desktop management. To control business expansion, you must develop a detailed hourly spreadsheet to account for your weekly hours worked:
Input your total required hours and tasks into a spreadsheet.
weekly break down each of the tasks
Estimate the number of hours required to complete each task during the week.
Add buffer time to deal with unanticipated problems.
Add general administrative duties, work and family obligations, and leisure time demands to the spreadsheet.
This type of planning exercise will help you manage the expansion of your business, as it will be easier to determine if you are overextending yourself. A person who is overextended is stressed, and a stressed individual is not an effective business manager or service provider.
The Final Word on Business Expansion
The best way to control business growth is to ensure that you have a firm grasp on everything you are working on. Divide large projects into smaller chunks. Integrate your projects with your other obligations, whether they are work- or family-related. Examine your weekly responsibilities to ensure that you are not overextending yourself in any one area. This micromanagement strategy will prevent your business’s growth rate from outpacing your ability to keep up.