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Feb 17, 2018
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5 Tips to Help You Prepare for Growth Spurts
  1. Get outside help. Growth is tricky and stressful, so smart business owners rely on outside assistance�such as consultants or SCORE volunteers�to get them through it.

  2. Hire ahead of the need. If you�re growing fast, add a chief operating officer and/or chief financial officer�even if only on a part-time or consulting basis.

  3. Change your own role. Stop "doing everything yourself." Delegate day-to-day operations to others and become the leader, the strategic thinker and the planner�in other words, the CEO.

  4. Weed out customers that don�t contribute sufficiently to your bottom line. Let go of those who distract you from your goal�for example, because they are outside the area in which you want to work or take too much of your time.

  5. Have reserve capital to weather growth�s inevitable bumps. Reserves don�t have to be all cash�they can be excellent receivables or something else that can be turned into cash quickly.

Brought to you by SCORE "Counselors to America's Small Business."

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