Sarah Savvas
Sarah Savvas Having enjoyed a corporate career in the media industry culminating in the role of National Sales Manager for News Limited, Sarah then moved into the world of small business, and had successfully established, owned and operated 2 small businesses by the age of 28. With a degree in media and communications, qualifications in business and corporate training, and experience in both the corporate arena and the small business world, Sarah now works as a business consultant and corporate trainer. With a focus on building a business of value from the outset and up skilling staff to maintain a competitive edge in business, Sarah coaches and advises small business owners on how to significantly increase profitability within their business and create an effective business plan to ensure sustainability and growth, and works with large corporations to train and educate their staff to ensure maximum productivity and proficiency. Sarah also educates and trains larger groups through seminars, business group meetings, expos and other speaking engagements on her areas of expertise.

Sarah Savvas has written 16 article(s) for us.

Visit http://www.profitworks.com.au

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Are You And Your Business Ready For Growth?

May 28, 2014 | Sarah Savvas

The thought of expanding your business from a small business to a larger entity is something that drives many business owners. But it requires careful planning to get it right.

Any small business owner who’s tasted success in some form, will undoubtedly have thought about the prospect of expansion. Rapid business growth can be an exciting, but growing too rapidly can also be dangerous and is often the ultimate downfall of what was once a successful small business.

There are a number of questions you need to be asking before launching into business expansion.

Firstly, look at the logistics. Does your physical workspace have the room for your business to grow? No matter what business you run, you will have a physical workspace, whether that be a home office or a large warehouse.

Can you grow from where you are, or do you need to move to a larger premises? A move to new premises brings with it a realm of financial and logistic planning. Legal fees and moving expenses can be a substantial drain on cash resources and time taken away from actually running the business. Moving may be a necessity before expansion, but can you afford the short-term drain on time and cash resources of the business?

Then you need to look at the effect the growth will have on your existing business. Often the thrill of chasing new business leaves existing clients feeling neglected or unloved. Dedicating a team to managing those existing customers and clients will help to prevent them from walking away from your business. If customers and clients are accustomed to receiving personal service from you as the business owner, make sure that you still maintain regular contact or assign a trusted employee to liaise with those customers on your behalf, always with the understanding that you are there to back them up.

Policies and procedures are key in growing any business. Having the business information all in your head might have been acceptable when you are were a small business, but it will not suffice in big business.

Expanding your business should be an exciting time. Ensuring that all aspects of the business are adequately prepared to handle the growth will allow you to grow with as few hurdles as possible.

There will always be issues that arise, but maintaining a strong team capable of adhering to key business policies while keeping new customers happy will keep the dramas to a minimum and allow you to focus on the bigger picture – a successful and sustainable business.