No, you didn't misunderstand... When your company goes through the first phase of growth, it's as if you have a new company to manage. With that, new premises, rules, processes, etc. will be necessary.
The care that must be taken when the company grows is not to confuse well-organized processes and rules with excessive bureaucracy. Bureaucracy is essential in any business, as it provides the necessary control for the company to develop its activities in an organized manner.
The problem is that in many cases, companies create procedures that hinder their operations. Pay attention to the following needs that will need to be met when you are in charge of the new company:
Formalization of strategic planning and development of tactical and operational plans
Implementation of a financial planning/control system that allows monitoring of all company actions
Formalization of the organizational new zealand phone numbers chart and functional structure
Implementation of a succession and career plan for all employees
Development of performance metrics for different areas/sectors and for each employee
Mapping business processes and implementing a business management system
Implementation of quality assurance systems
Investment policies for new products/services and innovation
As you can see, at this point you will no longer be managing a small business. Now, you will need to implement professional management to further develop your new company.
There is no ready-made recipe for putting all this into practice, but if you are surrounded by experienced people who have already been through something similar, the process can be implemented more easily. Make sure you have a management team that understands how to make this transition and start managing your great new business.
This text was written based on the book “Be your own boss”.
- Board index
- All times are UTC
- Delete cookies
- Contact us