If business growth is on your to-do list for next year, then you’ve probably realised there are lots of aspects to consider. Here’s our advice on planning, marketing and recruitment for business growth, to help you get the right people onboard and give you the best chance of succeeding. And don’t forget, if you’re short of time then the Hour Hands Business Support team can take care of your marketing and recruitment activities, leaving you free to concentrate on your business. Contact us to find out more.
Developing a growth plan is a great starting point. This needn’t be a complicated or onerous document, but you’ll need to think things through and capture your current position. You should consider:
- what is going well
- any weaknesses or issues that need to be tackled
- opportunities for growth.
With this in mind, it pays to set out where you want to be in three years, and perhaps also in five years. Does this fit with where your business is now? Start to map out what needs to be done, to start the journey towards your three-year vision.
A robust marketing plan is vital for growth and to support your goals – look out for more on this in our next blog. It will help target your resources efficiently and set your marketing budget. Also, having your marketing efforts mapped out for the year will help you stay on track and review what has and hasn’t worked. As well as promoting your business, take time to review your pricing.
Knowing how much business you can handle is vital. If you haven’t already done so, calculate your business capacity. Looking at the number of staff or hours available for client work, if you’re a service business, or the number of units you can produce, for a production-based company, is a key stepping stone on a number of fronts. From this, you can assess your potential turnover, and also whether you’re operating at capacity.
If you’re at or near capacity and want to grow, then you have a number of options:
- Find ways of working more efficiently using technology to help streamline processes.
- Find more efficient ways to do things.
- Increase your capacity through recruiting new team members.
If you’ve made the decision to recruit, then your first step is to set out the expectations of the new role in a job description. Start with a brief description of your company, what the role involves (including main tasks and purpose), add any required qualifications, and describe the pay and conditions. If you’re finding it difficult to get started then there are many templates available that will help you.
Small businesses have a number of different options for recruiting:
- Social media
- Specialist recruitment sites (although these vary in price)
- Recruitment consultants (knowledgeable and provide excellent, tailored support, but can be more expensive than other options)
When recruiting, it pays to be honest about your work environment. Small businesses are likely to benefit from adaptable people, so if flexible working is part of the package then make sure you shout about it. By following a thorough recruitment process, you’ll have the best chance of getting the right people on board.