Is your company experiencing a period of rapid business growth? Congratulations! You’re seeing the kind of success every business seeks.
Rapid growth is a double-edged sword. On one hand, it brings abundant opportunities your company may have never experienced before. You’ll have the chance to bring in greater revenue, find new customers, develop more positive PR, and build a strong reputation in your field.
On the other hand, rapid growth threatens to topple your company under the weight of success. During this time of intense growth, your resources are stretched to the maximum, and your employees may start to feel the stress. It’s all too easy to lose your grip on the growth and let it go spiraling out of control.
Rapid Business Growth Challenges
Managing your business and employees during times of exponential organizational growth can be difficult. Issues such as employee burnout can rupture previously dynamic teams and departments. According to a Workforce Institute study, 95% of HR professionals link employee burnout to direct losses in workforce productivity. Additionally, sustaining your company’s culture and values can be hard to manage during times of rapid growth.
The best way to minimize the growing pains from rapid growth is to engage with a business strategy consultant who’s faced similar challenges before. Your strategic business partner helps you maintain a self growth mindset as you address obstacles along the way and overcome them on the path to success.
Adapting to Growth With a Business Strategy Consultant
When business growth is your goal or already your daily reality, it’s essential to acknowledge that it’s an overwhelming experience. There’s no need to “grin and bear it” or pretend that everything’s perfectly under control when it isn’t.
A business strategy consultant provides a welcome reality check and helps you develop a self growth mindset as your company’s expansion continues. Your consultant supports adaptability because they can help you perform a cost-benefit analysis of each path forward at crucial decision points for your business.
To get the most out of your growth, work with your business coach to develop a strategic plan that serves as a roadmap to the future. Create short and long-term growth plans month by month and year by year. Stay flexible enough to adapt over time, but keep your eye on the clear horizon you’ve created by having a strategic plan in place.
Emotional Intelligence in the Workplace
One of the secrets to managing growth wisely is supporting your employees as they emerge into leadership roles. This involves numerous leadership-related activities like pursuing leadership development programs, developing succession plans, and ensuring you have a positive and productive company culture.
Because fast business growth can make people feel overwhelmed and disconnected from the company, initiate employee engagement strategies. Connect with your employees through surveys and one-on-one meetings to ask what the company can do to support them. Most importantly, follow through by providing programs that encourage them to further their personal and professional goals.
When interpersonal tensions arise, explore options for emotional intelligence (EQ) training. You might be surprised to learn that EQ isn’t an inborn trait but an acquired skill that can be increased and refined through leadership development programs.
High emotional intelligence helps people adapt to change and stay motivated when the going gets tough in business. If your company’s leaders exhibit high-EQ leadership styles, they’re more likely to have the skills it takes to share feedback tactfully, resolve conflicts quickly, and move teams forward with confidence.
How to Embrace and Supercharge Your Growth
As your company grows, set growth-related goals to maintain the momentum. This is your best opportunity to ensure your growth remains manageable and profitable as time goes by.
Key tips for supercharging a company’s growth:
- Keep the focus on positive morale and teamwork, even when times are tough.
- Prioritize your highest-value activities to preserve resources.
- Maintain top notch customer service.
- Use systematic and thoughtful methods of strategic planning.
- Take a proactive approach by hiring a business strategy consultant.
The importance of strategic planning can’t be overemphasized at this critical turning point for your company. During a time of rapid growth, urgent details can clog up your time and cloud your vision. A strategic plan clarifies your company’s path forward, even when growth is keeping everyone extremely busy.
Leadership Resources for Fast Business Growth
Fast growth doesn’t last forever, so take advantage of it while you can. To embrace meaningful and lasting change, experts recommend innovative leadership development programs as opposed to traditional training programs. Leadership Resources provides a comprehensive leadership development approach with guidance and support for each participant on an individual level.
At Leadership Resources, we help you take advantage of rapid business growth. We provide help with leadership development, interpersonal skills, emotional intelligence, strategic planning, and many other aspects of successful businesses.
This is the key to developing a self-growth mindset and nourishing the innovative employee engagement strategies it takes to succeed. Connect with Leadership Resources today to learn more.