Don’t have time to scratch yourself? Flat out “Like a Lizard Drinking?” Has your previous exponential growth rate has slowed to a crawl? If so, then it’s likely your business is experiencing growing pains.
Chances are you are working longer hours than any of your staff, and are the last to get paid. Your business is a victim of its own success.
If you do take any time off, when your return, you wish you had never left. It’s as if nothing happened at all when you were absent. Sure, work was done, but nothing progressed, and your inbox is full of unanswered enquiries.
Every business, on matter how big or small, goes through growing pains. Small businesses however, typically don’t have the resources that a bigger company does, and as a result, owners often get caught up “in the business” without ever thinking about how to work “on the business.” Growing pains can feature in many businesses that are on a growth path, and pressure can show itself in different aspects of the business – cashflow, staffing, infrastructure etc.
While it feels like a trap, it can also be an opportunity. A business restructure might be what it takes to propel your business into its next stage of growth and profitability.
Restructuring is most commonly associated with major corporations, however, small businesses face exactly the same economic imperatives and have just as much need to periodically shake things up to stay competitive.
How you organize your business is a big deal. A well-executed restructure can have an extraordinarily positive effect on a business, raising staff morale, customer satisfaction and profitability. Even better, instead of constantly having to put out fires, once you have your business running like a well-oiled machine, you can devote far more time to high-value activities such as chasing new clients.
Small businesses evolve. Reviewing your organisational structure on a regular basis helps ensure you continue to be set up for optimal growth well into the future.
The Australian Business Clinic provides business structuring advice, and can work with you to design business structure that will enable you and your teams to perform to potential.
Our team has many years of experience at senior management and board level, has strong business and strategic planning skills and much experience in assisting businesses of all sizes to develop robust and effective plans for the future.