The challenges and rewards of business growth
For some, business growth can be elusive.
Despite your optimistic outlook and best efforts, it seems you can only achieve a certain level. Frustration builds as your endeavours go unrewarded.
One or more vital components are missing.
Unclear about what to do next, you repeat the cycle. Let’s face it, in the absence of a better plan you have to, to keep paying the bills. You apply still more effort while the people around you demand increased salary and benefits.
Perhaps it’s your business model or a lack of planning. Perhaps it’s the things you don’t know that hold you back. You may be busy but not productive. Simply put, it’s damn hard to break the cycle.
Business growth is rarely about luck.
Growth often requires a different viewpoint, clarity around why you do what you do, a realignment of strategy and professional support.
If you are at the point where you lack confidence, feel isolated and overwhelmed, then it’s time to seek guidance from an Accounting Firm with a strong history of partnering with growing businesses.
Are you growing without the right checks and balances?
Meanwhile, others risk being a victim of their own success! Growth, whilst invigorating has the potential to derail your business.
Inevitably growth requires greater cash flow.
This may mean refinancing, equity injections or renegotiation of trading terms. Early planning and management is the key.
Growth can be inefficient.
Often, we are asked to help clients repeat their growth success. Step one is to control the growth. There is no point continuing to fill a bucket full of holes.
Growth can be constrained by your own, personal ability to grow.
Most business owners are fearful of letting go. Yet, with a better system of planning, measurement and control, you can let go. You can begin to trust others to do their job.
There really is no one single secret to business growth.
What is important is that you partner with a team of professionals who deal with growth companies every day, who understand the steps required to repeat growth.
You need support from a team who will implement the rigorous discipline to not only enable growth but enable you to capture the benefits of that growth. A team that has thought about and prepared for the advice and assistance you will need as you grow your business.
Take some time to read our growth case studies.
Each year we proudly hold the Bridgepoint Group Growth awards recognising businesses who achieve outstanding growth. Perhaps you’d like to enter our next awards program?
If you are challenged or excited about growth contact us to discuss your circumstances.