If you’re in a business that’s experiencing exponential growth, one of the problems that you’re facing even now is staffing. How are you planning on staffing for this as you move forward and continue to experience high levels of growth?
Consider: That strategic plan for how you’re going to conduct staffing is critical to your success.
So, let’s listen to Larry Chester, President of CFO Simplified, to hear what he has to say about how business owners can strategically plan for staffing during periods of exponential growth.
Don’t Wait Too Long to Prioritize Staffing
If you wait until you are struggling and all of your employees are working 10 to 12 hours a day to serve your customers, you’ve waited too long.
Not only might your customers leave and turn to alternative vendors for their products or services, but it’s also important to note that this level of work takes a significant toll on your staff as well.
So, you must conduct planning ahead of time; some strategic planning!
Strategic Planning During Exponential Growth
In this sector of strategic planning, as a business owner, you need to determine:
- What staff you are going to need, and
- When to cover the administrative work behind the scenes
Administrative work might include back office work, marketing efforts, product development, accounting and services, and all of the additional things you need to successfully serve your customers.
Next, you need to decide what things you want to do as a business owner—that only YOU can do—to help grow the business.
Don’t Wait Until It’s Too Late
Do the strategic planning that you need to do, so that your business is ready.
Hear it best from Larry Chester: “The truth is, if you’ve waited until all of your employees are working 12 hours a day, you’ve waited too long.”
Interested in learning more about strategic planning for your business? Read on to learn the four elements of strategic planning, or get prepped for end-of-year strategic planning by reading our article “It’s the time of the year for strategic planning and budgeting.”
The post Strategic Planning for Business Owners: Staffing During Exponential Growth appeared first on CFO Simplified.