Ways through Which to Prepare Your Business for Growth

  • Posted by Adam Hoff
  • 13 June 2018

Business growth is the objective of every business venture. When you start a business, your intention is that it should grow to the point where it can support itself while bringing in profit. But more often than not, trouble is bound to rise up and cause serious problems in your business. 

Perhaps it’s just that your employees have reached their optimum productivity and cannot do anything further. Or maybe you just lack the necessary skills and resources to bring to life the particular idea you have in mind. Whatever the case, you should find out ways of tackling this so that your business is on the upward trajectory again. 

One of the ways of accomplishing this is to hire outside help to help you deal with particular pertinent issues. Freelancers normally come in handy in providing the skills you lack without requiring you to make a long-term investment in permanent staff. You can hire freelancers online. But the question to ask yourself is, is your firm capable of handling such measures? Is your company to take on outside help? And are you prepared yourself for this kind of a decision?

Here are the three key points to consider before venturing to hire a freelancer to improve the operation of your business.

    1. Specify your source of funds

It is wisdom to establish where the funds will come from before taking the step of hiring a freelancer. Otherwise, getting in someone extra to help when you are not clear where you will pay them from is a recipe for chaos. It will tend to magnify the already existing cash problems, which will eventually have a contrary to what you were expecting. 

It is important to set aside funds in your budget for growth and expansion. And this calls for proper planning and preparation and the beginning of every operational period. A good strategic plan will provide an outline of which people you need to partner with, the kind of services they are expected to provide and even the amount you expect to spend in the process. If it is necessary to take that particular step, then find out a means of getting finances. Many business owners have even opted for loans from financial institutions and public trading of shares as a way of raising funds. 

Only ensure that you carefully analyze each alternative and make the appropriate decision. 

   2. Carefully outline the business processes.

A successful business is defined by the ability to carry out business operations efficiently. And this is made possible by a clear and accurate definition of all the business processes. Because consistency is required in the manufacture of products and provision of services, it’s important to do this so as to enable the duplication with great efficiency, those processes that are highly repetitive. The team you work with on the ground should each understand what is expected of them and how to carry it out. 

Process definition is important for helping you identify which skill set you have and which ones you lack. You will be able to evaluate each of these processes and find out which one needs more skills. This way, you can be able to pinpoint where you need freelancing help and be able to find the right person to fit the role.

Also Read: Moving forward - Using HR data to improve your business

   3. Create a self-sufficient system

If your business can’t run without you being around, trying to grow it quickly may end up being disastrous. You should be able to create a business system that is capable of running even when you are away for some time. This can be made possible partly by the process definition exercise you carried out earlier. You can create checks and balances at every step of the way to guide every decision making exercise in your business. And ensure that every team member in your firm is aware of this. Hence, not every decision and action will need to depend on you. This means that they will be able to make important decisions for the business seven when you are absent from work. 

    4. Find ways of working with freelancers

It is becoming increasingly necessary for business owners and executives to work with freelancers in getting more accomplished at their firm. The approach ensures flexibility of accessing topnotch talent when there is need. And the great news is that sometimes freelancers work for a fraction of what you would pay a permanent worker to perform the same task. Here are other additional ways in which working with freelancers can be of benefit to your firm:

  • Helping in times when there’s high demand for services. Sometimes you experience a high demand for extra manpower in your firm which is short-lived. It would be unwise to hire long-term employees at such times.

  • Selling the idea of freelancers to other teams in your firm. In case you have worked with freelancers in other places and accomplished your objective, you may want to share such knowledge with those not in the know. You can talk to the other times to share experiences that can help them come up with their own strategies for success. 

  • Maintaining for attention on the more important tasks. Sometimes you regularly find yourself distracted by activities that contribute little to the general goals and objectives in your firm. The best way of dealing with such distractions is to hand the activities to freelancers. This will leave you with the time and energy to focus on the core activates of your firm. 

  • Testing ideas before large-scale implementation. In case you have a great idea but lack the resources to implement it, you can make use of freelancers to test its viability. They can be able to help you develop the prototype or concept. A good example can be when you need to adopt a certain new technology for your business operations but do not have adequate in-house skills and resources to pull it off. Freelancers are capable of offering help without the large financial requirement large scale launching.