So, you’ve decided you’re ready to grow your agency, you’ve got big plans and big ideas, and you’re excited about entering the next phase of your business journey. Before you do however, taking a look at your existing business model to see if you’re ready for growth is a great way of discerning if the right foundations are in place. Trying to build on unstable ground will waste more time and money in the long run, so getting it right from the very start is the best way to start scaling your agency.
Are the right people in place?
The skillsets needed to grow a business are often very different from those needed to sustain or maintain a business. If growth is what you’re after, make sure you hire people based on their abilities and career development, as opposed to their background and experience. If you have ambitious consultants hungry for opportunity, placing them in positions that drive growth is a great way to develop and satisfy them, while also aiding the business.
Does everyone know what you’re doing?
Often, failure to communicate the company vision can slow down growth and cause confusion. To achieve growth, your employees all need to be in alignment, pushing the business forward collectively. They simply cannot do this if they’re unaware of what you’re trying to achieve or the direction you’re hoping to grow in. Always communicate your roadmap and involve your employees as much as possible along the way.
Is your technology ready?
The recruitment systems and database you use will serve as the foundations, and the infrastructure to your business, so it’s important to have the right tech in place before you try to scale up. For example, if you’re about to start recruiting within the contract market to achieve business growth, and your CRM system doesn’t support contract recruitment or a timesheet portal, you’re going to have a real problem on your hands soon. Make sure your technology can handle your expansion and communicate what you’re hoping to do to your technology suppliers. It will give them the tools to serve you better.
Does the market know what you’re doing?
Of course you don’t have to alert the entire industry to your plans, but your marketing and branding should always reflect the direction you’re going in. If people know what your business stands for and knows what you do, you’ll be able to then carry out your work more effectively. Your marketing is another arm of your business and should be working to warm up leads and start conversations before you even pick up the phone.
Do you have enough cash?
Cash is king and that hasn’t changed, and nor will it. Growth of any kind takes an investment in the first place, and one way or another, whether it’s in consultant’s time, or resources, it will take cash to start your business growth. Ensure you have enough liquid cash to support this and sustain your business.