11 Ways to Boost Your Startup During a Growth Spurt

Every new business venture has the primary goal of growth and development. Some are lucky to improve faster than the others. During this growth spurt phase, it is vital for you to capitalize on this positive scenario and beef up your marketing efforts so your startup can become even better. If you want to boost your startup, you’ll need to have the right arsenal of strategies to handle the rapid rate of growth. Heed the following advice to ensure a smooth scaling up transition for your company:

Embrace and Lean Into Growth

As your small startup booms, take a good look at your resources. How you lean in and embrace this growth also hinges on having the necessary resources to back you up. You may need to bring in reinforcements to handle the sudden growth. In order to sustain it, you may need to retrain some people, so they can be more efficient in handling the new volume of work because of the influx of new clients.

Make Customer Service a Priority

Make sure you to continue to offer great customer service to keep your loyal clients right at your side and in order to draw new clients. You have to remain consistent, or if not, offer even better customer service during this time. Your clients are the primary reason for this growth so continue to take good care of them and address their needs. Remember that without your clients, your startup would not even be a success. Make sure your staff is trained well to continue giving service with a smile.

Have an Existing Strategy in Place Way Ahead of Time

Some may say it is presumptuous to have a strategy in place way ahead of time for this growth spurt but do it anyway. Planning for bad times is acceptable, then so is preparing for the good ones. Have a plan on what to do if you run out of stocks, have thousands of orders, meet more suppliers, and the like. These are all great issues to have, so prepare what to do in case it happens. And it will happen for your startup if you work hard. It’s only a matter of time.

Shift Frugal Mindset

When massive growth happens, shift your penny-pinching ways and don’t be afraid to invest in opportunities. You have to strike while the iron is hot. Don’t let your extreme frugality inhibit you and make you miss those deals.

Build a Good Team

Your team is the backbone of your business. In order to have a great business, you have to have the right team who is willing to work hard and undergo training to get things done right. Don’t rush looking and hire just for the sake of hiring as this is more costly.

Religiously Monitor Your Cash Flow

The cash flow is the life force of any startup. Make sure you keep an eagle eye on your small business’ cash flow because you don’t want to do engage in something that will be overwhelming for you. That’s akin to setting yourself up for disaster.

Make Friends with a Mentor

You’ll be excited and challenged by a fast growth rate. Having a mentor who can support you and give you ideas will bring you a great source of comfort. This mentor can offer you invaluable advice on how to keep your startup afloat. This mentor can also be your sounding board for fresh ideas or even help you alleviate your stress because he has the power to assuage your fears and worries.

Make the Necessary Preparations, Assessments, and Adjustments

You need to be prepared to address this rapid growth. Having freelance talent at your disposal will help. Having a good relationship with your suppliers for quick additional orders is also a critical component. If growth continues, make the necessary assessments and adjustments to your team’s workflow, your inventory, and your cash flow cycle. You may have to add additional staff or buy more supplies.

Build Infrastructure And Automate

If growth continues, no amount of manpower can handle it. Consider automating as this is more efficient and prone to fewer errors. Without a doubt, robotic automation will take your startup and make it grow by leaps and bounds.

Focus On Quality Control

Your increase in volume could mean the quality is compromised. As you try to speed things up, the chances of error become even larger. You have to double-check your team’s production and emphasize that quality takes precedence.

Create Standard Operating Procedures

With the rapid boom, the way things are conducted in the company has undoubtedly changed to address the growing needs. Now is also the time to create a more solid and better-fitted SOP or standard operating procedures that can more efficiently and effectively address these changes.