How do you grow from a small, one-man firm to a larger firm? That was a question asked by a respondent to our recent survey.
The best advice I can give anyone that wants grow his or her company is to write a plan. It isn’t easy, but when you put in writing what you want to do, where you want to be, and are forced to look at all the details involved in getting there (increased marketing resulting in higher sales, etc.), you can make it happen.
Whatever your goals, you need a plan. Planning means walking step by step through the process of deciding exactly what kind of business you want, how large, how many employees and what each will do.
But be forewarned. Writing a business plan is hard work. You will not get it done in a day or even a week in most cases. You will have long hours of thinking and planning ahead of you. Your financial books should be up to date so that you can include accurate financial information. Writing a business plan also forces you to be completely honest with yourself about your past, present and what’s reasonable to expect in the future. This is one place that Hoo-Rah and BS will not get you through.
Once done, all you have to do is follow the plan. You’ll have to make adjustments, of course, because real life never goes according to plan, but as you swerve here and there, you’ll still have a goal defined and can see the path to follow to reach it.