Connect with us


6 Tips for Handling Rapid Company Growth

three men sitting while using laptops and watching man beside whiteboard

There is nothing more exciting as a business owner than to see the fruits of your labor start to develop. Your sales are increasing, there’s money coming in, and you are finally seeing that success you’ve always dreamed of. As fun and profitable as it can be, rapid growth can also be a challenge. Big-time growth usually means big-time changes, and if you are not prepared or do not manage them correctly, this period of growth could lead to disaster down the road. Here are some tips for handling rapid company growth so that you can continue to flourish. 

Understand the Source of Your Growth

One of the keys to managing growth is to understand where it’s coming from. Is there a certain product that’s overproducing? Is there a marketing technique that seems to be bringing in lots of customers? You should also examine your sales and see if the growth is sustainable. For example, if your growth is attached to a seasonal product, or if you seem to have captured lightning in a bottle for a short period of time. The key is to identify the causes and then strategize ways to leverage those causes for continued growth down the line. 

Develop A Strategy For Moving Forward

Once you’ve identified where your growth is coming from, you can then develop a strategy to move forward into your bold new future. For instance, if your recent success seems like it’s seasonal, then find ways to market to your new customers during other times of the year. You can develop new products, for example. If it’s a marketing initiative that is fuelling your sales, then you must lean into it and continue to produce content that is similar to what you were already doing. That could mean similar in personality, feel, colors, or SEO content. 

Be Careful With Your Staffing

With more sales and revenue, you will no doubt have more work to do. This is a tricky part of growth. No doubt, much of your success rests on the shoulders of your team. They have done the work to get you where you are. Now that you need to add people, you have to make sure not to upset the company culture you already have. Do not rush into hiring people as much as you might be tempted to. Hire the right people to fit with your team, and you will be more likely to continue your success. 

Another option is to outsource certain tasks and skills so that you don’t have to take the time to recruit and train. You can have a built-in expert in no time. You can hire a virtual executive assistant, bookkeeper, freelancer, or pretty much anything you need. You won’t have to sacrifice company culture, and you will have an easy way to continue managing your growth. 

Don’t Forget About Your Customers

When you are running around and doing ten thousand things every day to keep things running, certain things can fall by the wayside. It might be hard, but make sure that customer service and experience do not. There’s nothing customers dislike more than being neglected, whether it’s waiting on a hold line, not getting a response to a question posed on social media, or getting the runaround in some way. Make sure that you take time out of your day to engage with your customers and answer their calls and concerns. That way you can build their loyalty and hopefully get more sales down the road. Remember, it’s more affordable to keep customers than it is to earn new ones. 

Have a Budget

It can be tempting to start making all sorts of new investments when revenue starts rolling in. Whether it’s new infrastructure, equipment, technology, or partnerships, you need to make sure that you keep to a budget. Try and project what your revenue will look like in the near and far future, and craft a budget based on that. There is nothing wrong with new investments that you think will help give you a leg up on the competition. You just need to make sure that your investments won’t break the bank because you’ve gone over budget. 

Be Flexible

Even if it’s a good change, change can still be hard. Growth is exciting for everyone at the company, but it will no doubt lead to changes in everyone’s job. It might be a bigger workload, or it could be a shifting in duties as new staff comes on or duties are outsourced. Make sure that you maintain a mindset that is open to adaptability, and try to get your team into this mindset as well. Be positive, provide incentives from your new windfall, and make sure that your team knows how valuable they are as their lives change. Being flexible and keeping your team comfortable with change will allow your growth to become a new normal of success down the road. 

Stanley Gatero is a writer at Disrupt Magazine. He covers topics concerning technology, entrepreneurship, news, and sports. He is an avid traveler.

Advertisement Become A Crypto Expert

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

Disrupt Prime Video1 day ago

Top 3 NFT Projects under 1 ETH | NFT Disruptors Podcast

A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger. NFTs can...

NFT5 days ago

Polly Kole, The Beauty With Gifted Hands Tycoon Of NFT Sculptures

In a society full of stereotypes, people clinging to appearance and disregarding one’s achievements is the magnificent Polly Kole stunning...

News4 weeks ago

Spider Man; No Way Home’, Crushes Box Office Estimates Generating A Mammoth $253 Million In North America.

After only 3 days in the cinemas, the latest and last Spidey outing disrupted the international market as the highest-grossing...

Cryptocurrency1 month ago

Nike just bought a virtual shoe company that makes NFTs and sneakers ‘for the metaverse’

Nike, the sportswear mogul, recently stunned the globe as it moved into the realm of the metaverse industry and blockchain...

QR code screenshot QR code screenshot
Diversity in Tech1 month ago

BTC did 62% more in transactions than PayPal this year

MasterCard and Visa have always topped as the runaway leaders; however, Bitcoin’s Lightning Network will soon disrupt this norm. Starting...

high angle photo of person holding turned on smartphone with tall buildings background high angle photo of person holding turned on smartphone with tall buildings background
Social Media2 months ago

How to Organically Grow Your Social Media Following In 2022

Instagram On Instagram, use Reels to reach new audiences and grow – find popular sounds and use them in your...

gold-colored Bitcoin gold-colored Bitcoin
Cryptocurrency2 months ago

Julio Domenech On How Banks Can Engage In Bitcoin in 2022

As cryptocurrency continues to become a popular trend in the US, many people are looking for an opportunity to participate...

Diversity in Tech2 months ago

Microsoft Teams, Incorporating New 3D Avatars And Virtual Meeting Spaces Before Mid 2022

Microsoft Mesh has always led as the future of Microsoft Teams meetings. However, Meta, the newly launched Facebook company, is...

Health + Fitness3 months ago

Stephen Campolo – How A Former Fat Kid Transformed His Body And Is Now Helping Others Do The Same

UPDATE: During a recent interview with Yahoo! News, Stephen revealed that he will be speaking at the next Disrupt Puerto...

News3 months ago

Facebook Goes Meta As It Scales Up Beyond Just Social Media

Thursday 28 September 2021, Mark Zuckerberg, the CEO of Facebook, announced Metaverse, a brand for users to interact in virtual...


Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.