HOW TO AVOID GROWTH PAIN IN 5 SIMPLE STEPSMay 05, 2022
All successful and growing business will in one way or the other experience growth pain. The good news is that the pain can be avoided.
Just following these simple steps to minimise the risk of taking actions too late. Taking necessary decisions too late is a sure way to experience growth pain.
Early signals that you are starting to developing growth pain are listed below:
- Co-workers start to feel that they are becoming overwhelmed.
Early signs: “there are not enough hours in the day.”
- Managers and co-workers are acting as fire fighters and loose their focus on the real goals.
Early signs: “heroes are the ones that are putting out fires”
- High stress forces managers and co-workers to navel-gazing instead of working in teams.
Early signs: “working in teams are a time wasting activity”
- The long-term goals are being neglected and co-workers starts to forget where the company is headed.
Early signs: “short-term priorities becomes the norm”
- Leaders and followers are starting to become “survivors” instead of innovators.
Early signs: “creativity and innovations are put in the back-burner”
- Lack of team-spirit
“I have to do it myself if I want it done correctly.”
Endless number of not productive meetings. Managers and co-workers starts to feel it is waste of time.
Early signs: “alienation start to grow”
- Plans are made but the decision-making capabilities are questioned and execution of decisions are not made. When plans are made, there is very.
Early signs: “productivity goes down and confusion increases”
- Some people have begun to feel insecure about their place in the company.
Early signs: “brain-drain starts and the most talented managers and co-workers leaves first”
- The company has continued to grow in sales, but not in profits.
Early signs: “pushing sales increases and profit making decreases”
These growing pains are not only problems in themselves; they are also an indication of a systemic problem requiring the development of a stronger strategic and operational management.
Follow these simpel steps and avoid growth pain:
- Hire the right people, at the right time.
Profitable growth is not following a linear curve. It is more of a step-by-step process. Hire the right people at the right time means that you will take proactive steps to avoid growth pain. It needs to be right from the beginning. A key process is a robust on-boarding process.
- Learn to delegate.
Delegation is a skill and you need to learn that skill. Use a Business Coach and improve your skill set before you start to experience burn-out or any other symptoms. Growing your business with burning yourself out is key.
Build for scale Improve your processes and procedures and design them for scalability. Install performance measurement and management system. Start to thrive your business with cross-functional teams.
- Plan for moving out
All business are based on some sort of organisation and location. It can be in an office, it can be an hybrid-organisation or 100% remote. The key is to move proactively with your growth so that you have system and structure in place and enough space to grow.
- Leverage your strategy
One of the most important management task is strategic development and to understand when it is time to upgrade the strategy. If it’s done too late it fill always end up in severe growth pain. If navel-gazing is dominant your strategy is implemented and you need to create the next chapter.
Many businesses are shifting their primary focus from delivering products and services to value-based interactions and connections.
Use a Growise Business Coach to make sure you grow with out pain: Click on this link and sign up, today.
If not now, when?
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Stay Safe/ Goran Business Coach & Trainer.
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