If you want to grow your business, you are probably going to need help. It’s impossible to maintain success in business growth if you do everything yourself – there just aren’t enough hours in the day. So, you have two choices. The first is to hire full-time employees to do the jobs that need doing. The only downfall with hiring full-time is that your business may not be in a position where it could sustain itself paying full time salaries. And doing so could negatively impact the business and hurt its longevity.
The second method is to outsource those tasks that need doing to a third party service. It is an easier way of approaching growth, as it will give you the evidence and hopefully the results that you need before hiring anybody full-time. Once you have steadied the ship and know where you are, you will have a more stable base to work from. Then – and only then – should you start hiring.
With this in mind, here are some business services that you might need to grow your company. Most of them will be relevant to any business or industry, so take a look and see if you can find a fit for your company.
Business Analysts
If you are struggling to identify the ideal areas of growth for your business, speaking with an analyst may be a good option. They will be able to show you all of the viable ways of getting ahead in your industry, and will advise you on the areas you need to improve and concentrate on. A great business analyst will have years of experience – and you will get to draw upon all of that knowledge. Make sure you hire an analyst with a good pedigree and previous successes in your market.
I.T. Support
Unless you are one of those rare companies that don’t rely on technology, you will need help with your I.T. systems if you want to grow. Your website, database and system will be put under a lot of strain as you get more customer requests and build up a bigger market share. It is essential to have robust I.T. support in place – if you don’t, your plans could disintegrate in front of your eyes. For growth to occur, you have to be able to deal with it – and in most cases, that starts with the systems that you currently have in place.
Production
If you sell a product, then you need the ability to make more of it – pretty simple right? However, unless you know how much more you can sell, it would be unwise to do something like buying a bigger factory. Instead, seek out a manufacturing firm that can help you scale up your production.
Along with the manufacturing firm, your business might need a logistics company, significantly if it’s expanding. It will assist in the shipment transfer of goods to your customers. It will be convenient for your business to have a mode of reliable transport. It improves your company’s reputation and provides opportunities to cut costs, keep inventory at optimal levels, control the flow of products, and maximize operations. Good transport management improves the efficiency and effectiveness of businesses’ logistics processes and supply chain management.
If your business is a service, then you also need to think about production. If you are a graphic designer, for example, how are you going to be able to grow if you can’t meet the demand for your services? Again, it would be unwise to invest in full-time employees until you know what that demand will be like. Until then, outsource to someone with a similar skillset – or even a virtual assistant who can help you with your more mundane day to day tasks.
Marketing
Finally, you have to look at your marketing initiatives. You might have been ticking along quite nicely up until now, but if you want a bigger market share, you are going to have to work for it. One of the best ways to grow your business is through effective marketing. So, if you decide to outsource this are of your business make sure it is with a suitable marketing team with previous successes in your industry.
In all cases, always ask for references from previous clients and check them yourself. It can save you a lot of time and money if you do the proper screening beforehand to ensure that you and the people that you are contracting out with are a good match for one another.
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All great sources to improve your business, especially when starting. The idea of a business analyst did not originally come to mind before reading this post, but you make a very good point. Having a seasoned pro with good credentials can give you professional insight and help you learn from other’s mistakes.
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