Business

Whether you have built your business from the ground up or purchased an existing business, there naturally comes a time for change and growth. Business growth can sometimes be seen as a scary prospect, but it must not be. Growth needs to be seen as positive, and it needs to be seen as progressive. If a business is ready for growth but does not take action, it will sink and slide quickly into oblivion. Customers and clients can easily and quickly forget about businesses that are not prevalent or relevant to them anymore, so do not put off business growth as it is a chance to develop and create a sustainable business for moving forwards. Knowing You Are Ready to Make the Business Move If you are unsure as to whether or not you are ready to make a move and focus on the growth, you need to take a step back and evaluate your current situation. Take some time away from the day to day running of your business to establish where your business is going. Sometimes, if you are too close to the daily running of your business, it can be hard to see when change and development is necessary and needed, which is why it is so important to take a step back. When you have taken a step back, you will evaluate whether or not you are ready to embrace growth. Some of the things that will help you establish your position include: if you have customers who are waiting longer than they should be for their orders, if your business premises are small and cramped and unfunctional and if you have more orders than you can comfortably process. Finding Suitable Premises in the Right Location When you grow and upscale, you need to look at larger premises to accommodate what you want to do and what you plan to do. You may have been in your current premises, or you may have been needing to make a move for a little while now. No matter what the situation finding suitable premises is something that will take time and dedication, and possibly even some assistance from a commercial agent. When you move to new premises, you need to think about cost, affordability, location, and potential. Your budget and your cash flow will determine what you can afford, so before you go hunting for new locations, you should establish just how much you have to spend. Your budget may determine the location, but you need to think about where you want to be located if it doesn't. Do you want to be close to a town, a city, or major road links, or do you want a more rural location? When seeking out new business premises, you also have to plan for future growth and plan for more potential growth. For example, looking at premises that are suitable for the next 1-2 years is OK, but what about if you are planning further growth for the next 3-5 years? Will it still be suitable? New Security and Safety Protocols When looking at suitable locations and premises, you must consider how safe and secure they are and how safe and secure they could be. Security and safety need to be a priority as you need to ensure that stock, equipment, and customer data is kept safe at all times. You may want to look at CCTV and alarm systems, and you may also want to look at getting an Access Card Reader installed on-site to ensure that you know who is visiting your premises, when, and why. As safety and security come at a cost, you should allow a healthy figure in your removal budget to accommodate the necessary changes and upgrades that you will need to make to get your new location up and functioning as soon as possible. Creating an Action Plan and a Continuous Growth Plan Once you are settled in your new location, it is not time to rest. Now you must start working on an action plan for further the business’s growth and development. Business growth and development should be seen as a continuous process and should not be seen as something that is done on an ad-hoc basis. To make sure that you continue to grow, you must embrace plans of action and growth plans. Having in place a growth plan will allow you to see where your business is headed and by when. Failing to create a growth plan will mean you will be leaving lots of elements and aspects up to chance or fate, which is not that good when you think about how much time and effort you have put into getting your business to where it is today.