How to manage and grow your small business - Blog
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How to manage and grow your small business

02 Nov 2016

How to manage and grow your small business

In the modern working environment many more people are seeking alternative forms of work that are better suited to their lifestyle. This includes people opting for flexible office hours or working from home, as well as those choosing self-employment and starting their own business.

This has been made even easier with innovations in technology. The digital world that we live in has given rise to new industries that didn’t exist before. With new platforms and channels for people to sell their products through, many people launch their own e-commerce business with varied degrees of success. But it’s not always obvious how you can make your business successful and grow it. We offer some tips that can help you.

Plan Ahead

A vital part of any successful business is to make sure you plan ahead and know from the offset, the direction that you want your business to go in. It’s important that you understand the value of your business and get your figures right when planning, otherwise you might be more ambitious than you can afford to be. You should make plans in advance about how you want your business to grow and expand so you can be prepared for the future.

Your plans should consider details including whether you want to employ more people or whether you will need to expand your operation. Planning for the future means you are prepared for any changes that your business might experience. You should also be wary of any costs you may incur or potential periods of slow business.

Create a management structure

One of the most common problems for smaller businesses is that they don’t have the right management in place from the beginning and things get lost in translation. If you are working on your own then you won’t have this problem at first but it is likely you will eventually, as your business grows and you employ more people.

In the early stages of a small business you may have other partners that can play a part in the business's success but they may not be fulfilling their role. It’s important you define the management and organisational structure from the start to make sure people are working together, know each other's roles and that your business is moving in the right way.

Quality Control

An important part of any growing business is making sure that you offer the highest quality possible in your products or services. This is a common problem for small businesses as it is difficult to grow your business and increase your orders while still offering the same quality of service. This is because you will struggle to keep costs down while still trying to grow and meet the demands of your customers.

It’s important that you install a quality control procedure to make sure that you maintain high standards. If you offer a service then you should also devise a way to make sure that you are offering the same high standards to all customers too. Referrals are a larger part of small businesses and you can gain valuable custom through recommendations.

Grow within your means

Another major mistake that people make when looking to grow their business is growing beyond their means too quickly. You should be careful that you don’t try and expand too quickly and promise your customers things that you can’t meet. It’s important that you don’t commit to long-term contracts early in the development stages of your business as you may not be able to fulfil them. This includes committing to long-term production costs or renting property that you may not be able to afford.

Although ambition is good you should also be realistic about your targets and what you can achieve. Temporary solutions can be a good alternative to committing to something long term. Self storage can help your small business grow by offering a solution for mail order businesses and other small enterprises. With no long-term contracts or hidden costs you can manage your budget much better.

If you’re looking for storage solutions to help the growth of your small business then Easistore can provide the perfect solution to meet your needs. We have all kinds of storage spaces that can help you with storing stock to housing your entire operation. We also have offices and studios that you can rent on a short or long term basis to suit all your needs.