- Get Outside Help. Growth is tricky and stressful, so smart business owners rely on outside assistance—such as consultants—to get them through it.
- Hire Ahead of the Need. If you’re growing fast, add a chief operating officer and/or chief financial officer—even if only on a part-time or consulting basis.
- Change Your Own Role. Stop “doing everything yourself.” Delegate day-to-day operations to others and become the leader, the strategic thinker, and the planner — the CEO.
- Weed out customers that don’t contribute sufficiently to your bottom line. Let go of those who distract you from your goal—for example, because they are outside the area in which you want to work or take too much of your time.
- Have reserve capital to weather growth’s inevitable bumps. Reserves don’t have to be all cash—they can be excellent receivables or something else that can be turned into cash quickly.
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Karmen A. Booker is an Attorney, Business Consultant and Chief Consultant for Compu-Perfect Professional Services, a business consulting firm specializing in business incorporation, establishing limited liability companies, contract drafting & reviewing, and more. CALL ATTORNEY BOOKER at (301) 408-1082. View her website at www.compuperfect.net
She is also the author of “Business Tips” Report where you will discover tips that will put you on the Road to Business Success, Tips for creating and implementing a marketing plan, and more. This report and other books she has authored are available for online purchase at www.kbooker.wordpress.com by clicking on the respective report and book covers on the right sidebar of the blog site.