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How to Handle Rapid Business Growth

There is nothing better than seeing your business grow. All your hard-work, sweat and determination finally paid off! As good as it may feel, if you don't handle a rapid growth properly you'll find yourself back to square one or at an even worse stage.

The first thing you need to focus on is managing your finances. You'll need to make budget adjustments and changes. Now that you're in uncharted territory, you'll likely face unforeseen cost challenges like needing more employees or equipment that need fixing.

With rapid growth comes the need to expand (usually), this means you need employees to take on roles that you were carrying out yourself. Keep calm, delegate and look for freelancers that fit the role. Some work can be delegated to existing employees but overloading them with work is ill-advised. This is where outsourcing comes into play. Get freelancers or independent contractors to do the jobs that your employees aren't well-versed in.

In your excitement you might forget to stay organised. Regardless, it's not something you can afford to not do. Ensure your company operates smoothly but keeping track of things and making notes of what needs your attention urgently. Good organisation allows you to swiftly find what you need and ensures you get everything done.

As much as you want to kick back and relax, now is not the time for it. This is a crucial time for you to come up with sustainable long-term strategies. The future of your company depends on what you do now. Planning ahead is always better than winging it.

Of course, as much as you have to get these things done, make sure to savour the moment and appreciate everyone who made this success a reality. You'll always learn more as you go, and that's half the fun of it.

EQWIPPD SUMMARY:

Manage you finances
Delegate and get freelancers
Get everything organised
Come up with a sustainable long-term strategy