What to Consider When Your Business Expands – Part II By Ernest Grotsky

As the workload at your small business increases, it is no longer feasible to do everything yourself. Perhaps in the beginning phases you were responsible for accounting, administration, production, and distribution, but you should now start to outsource some of these tasks to companies that have experience in managing them. If you want to start small, try a part-time personal assistant or a company that will man the phone lines and take messages for you.

Manage your workload and assess whether your current workforce can handle the flow of incoming projects. There is a fine balance between the correct number of employees and the correct amount of incoming work. In finding this balance you will make some mistakes, but once you get it right, operations will be smoother and the profit will flow in. Use any unexpected income you might currently be receiving to invest in the future of your business. If you have a surplus of funds, channel it into your company’s operational expenses: use it to pay off debts, bump up your marketing, or purchase new technology or essential equipment.

Lastly, take a short moment to enjoy the fruits of your labor and revel in the success of a smoothly-operating and well-planned business expansion.

About the Author: Ernest Grotsky is a project manager with a wealth of experience in numerous large-scale construction companies and real estate organizations, including CB Richard Ellis, Brooks Construction, and John S. Clark Company.