<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=290086984736480&amp;ev=PageView&amp;noscript=1">
word-map-thumb

The Alternative Board Blog

Leadership Tips in a Time of Rapid Business Growth

Jan. 22, 2019 | Posted by The Alternative Board Worldwide
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 Worldwide

Related posts

Developing The Art Of Time Management
Feb. 19, 2019 | Posted by Phil Spensieri, TAB York Region
Although many of you are fantastic managers of your employees and operations, the issue of good time management is almost always a part of every discussion I have with business owners. Good time...
What Habits Can Cripple a Leader’s Productivity
Feb. 19, 2019 | Posted by The Alternative Board Worldwide
With all the attention given to boosting employee productivity, it’s sometimes easy to lose sight of the same urgency for business owners or CEOs and their executive teams. Ask yourself: are you’re...
Keep Your Team Productive and Motivated in Our Uncertain Times
Feb. 14, 2019 | Posted by The Alternative Board Worldwide
There’s a great deal of uncertainty in the world today, some of which directly (or indirectly) affects the businesses you lead. Political, financial, cultural and religious upheavals generate what...
5 Tips on Reducing Workplace Distractions
Feb. 12, 2019 | Posted by The Alternative Board Worldwide
These days, employees are faced with an unprecedented onslaught of workplace distractions, chief among them all the apps and digital sideshows that now pervade everyone’s consciousness. No wonder...
Why Branding Is Important to Your Marketing Efforts
Feb. 7, 2019 | Posted by The Alternative Board Worldwide
Everyone used to know what “branding” meant—a logo, name, catchphrase, or some mixture of these and other graphic design elements to promote a business. In the twenty-first century, the concept of...
Leadership Part II: Why be a Boss when you can be a Leader?
Feb. 6, 2019 | Posted by Phil Spensieri, TAB York Region
In my past 30 years of business I have met thousands of business owners and while all of them have been the ‘boss’, not all of them have been leaders. How to be a better leader is a topic that comes...
5 Tips on Improving Your Company’s Sales Process
Feb. 5, 2019 | Posted by The Alternative Board Worldwide
For just about every business, one principle is tantamount: every sale counts. A company’s sales process should be streamlined, well-structured, transparent and efficient. When one or more of those...
A Quick Guide to Hiring a High Performing Sales Team
Jan. 29, 2019 | Posted by The Alternative Board Worldwide
A quality salesperson is vital to sales team success This individual is responsible for generating leads and closing sales, which translates into revenue-generating activities for your organization....
5 Common Recruiting Mistakes and How to Avoid Them
Jan. 24, 2019 | Posted by The Alternative Board Worldwide
You don’t need us to tell you—the goal of hiring talented, qualified job candidates is now a lot harder to achieve than it once was. Businesses are pursuing a wide range of strategies in order to...
Management Skills Part 1: Transitioning from Employee to Manager
Jan. 22, 2019 | Posted by Phil Spensieri, TAB York Region
In my work with business owners, many of them have expressed a desire to transition a certain employee to a more senior role at their company. However, this promotion sometimes doesn’t happen because...