<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=349935452247528&amp;ev=PageView&amp;noscript=1">
Search
word-map-thumb

The Alternative Board Blog

Leadership Tips in a Time of Rapid Business Growth

Jan. 22, 2019 | Posted by The Alternative Board
motivating-sales-1

Solid leadership is critical during every phase of a company’s evolution. This is probably most important during a time when a business undergoes a period of rapid growth.

According to serial entrepreneur Firas Kittaneh, the challenges that occur during this phase include managing cash flow, responding to competitive threats, and fostering a collaborative culture. Businesses that function in a dynamic sector “have to be prepared for constant change,” Kittaneh says. Leaders should “internalize the idea that disruption is the new normal” and focus on training that promotes agility in the workforce.

Here are additional tips to consider if your business is experiencing (or is on the cusp of experiencing) accelerated growth:

Make sure someone is looking beyond the present. This can be an extremely busy time, requiring an “all hands on deck” mentality from the CEO or business owner on down. In the same respect, some focus should remain on what’s likely to happen after things settle down.

Ideally, says leadership and management author Art Petty, you have (a) an individual or team that’s “accountable for looking beyond the moment to a future scenario when rapid growth abates,” and (b) someone who is “laser-focused on the operations of the business” and can closely monitor “processes, systems, infrastructure, and quality.”

The best approach, Petty contends, is to “cultivate a culture of continuous improvement” that addresses obstacles, promotes transparency, and ensures that your company is prepared for the next growth phase.

Want additional insight? Download Easy Ways to Improve Your Company Culture

DOWNLOAD

Never neglect customer loyalty and service. It should be a no-brainer, but businesses swept up in a frenzy of growth sometimes neglect the very customers who helped get them there. Regardless of other demands on your time and resources, always keep a close eye on the quality of your offerings and on maintaining a high level of customer service.

If anything, having a satisfied customer base is more important now than ever.

Keep your lines of communication open. With your team focused on making sure things continue to run smoothly, you also want to stay in touch with people at all levels in the organization. Effective leaders find time to update their workforce on any new demands, expectations, challenges, etc., during this busy time.

Leaders also promote creative solutions to problems created by rapid growth. Leverage digital technology (chat rooms, video-conferencing, etc.) so employees are able to “exchange ideas, information, and questions … at company, department, and team levels,” says technology CEO Rich Kneece. These lines of communication lead to stronger ties between co-workers, as well as to a productive transfer of knowledge.

Recognize and reward those who contribute to growth. Customers are the source of new, explosive demand for your products and services, but employees are the ones who help meet that demand. Look for ways to recognize the value of employees’ daily contributions to business success and regularly “check in” to see how well they’re coping with their workloads during this busy time. Ask them what resources you can provide that will “help them with the additional stress that inevitably comes with strong growth.”

CEOs and business owners yearn for a time when their enterprise undergoes accelerated expansion. As long as they monitor internal processes, maintain high quality in products and delivery, and do all in their power to avoid employee burn-out, these leaders will see success on a level they themselves may not have dreamed of before.

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board

Related posts

Ways to Handle Supply Chain Shortages
May. 17, 2022 | Posted by The Alternative Board TAB
You don’t need a crystal ball to see that supply chain disruptions are likely to continue for some time to come. As we are all becoming painfully aware, supply chain disruption “is a major factor ...
How to Achieve Business Success by Knowing Your Strengths and Weaknesses
May. 10, 2022 | Posted by Phil Spensieri
Over my years as a business coach, I’ve heard hundreds of stories about how and why my clients got into business. Each story differs, but one thing remains common: every one of them got into business...
Inflation Busters: 15 PAINLESS ways to Reduce Your Business Expenses
May. 5, 2022 | Posted by Joe Zente, TAB Austin
Inflation Busters: 15 PAINLESS ways to Reduce Your Business Expenses April 20th, 2022 “Frugality drives innovation, just like other constraints.  One of the only ways to get out of a tight box is to...
Clamoring for Talent: 3 Ways To Improve Employee Retention
Apr. 29, 2022 | Posted by The Alternative Board
It is still a tough labor market out there. The Great Resignation and the dearth of eager job candidates are keeping business owners shorthanded and clamoring for new talent. In many cases, this...
The Importance of a Leadership Development Plan
Mar. 15, 2022 | Posted by Phil Spensieri
As a business owner have you ever given any thought as to who will replace one of your senior staff if they were to resign today? It’s a hard question, and the truth is no one really knows when...
Protecting Your Business in a Time of COVID
Feb. 4, 2022 | Posted by The Alternative Board
If anything demonstrates the role of uncertainty in today’s business landscape, it must be the nagging persistence of COVID-19 around the world. Only last year, it appeared the pandemic might be...
5 Ways To Manage A Remote Sales Team
Nov. 5, 2021 | Posted by The Alternative Board
Sales leaders have struggled with managing remote sales teams even before the pandemic. Today, with an increasing number of organizations moving partially or fully remote, the need to put practices...
Why Your Business Needs Standard Operating Procedures
Aug. 26, 2021 | Posted by The Alternative Board
Running a business is a costly, time-intensive process. Costs and time can grow exponentially if an organization lacks a system whereby products are made, or services rendered in a consistent manner....
6 Tips on Making a Family Business Partnership Work
Apr. 20, 2021 | Posted by The Alternative Board
We often hear stories about the difficulties of making a family business partnership successful. Yes, there are unique hurdles that differ from other types of business models, but with the right...
Time-Saving Tips for Hyper-Busy Business Leaders
Apr. 13, 2021 | Posted by The Alternative Board
There may be only 24 hours in a day, but with effective time management, business leaders can get a lot done within that limited timeframe. The key is taking steps to eliminate clutter and...