Most businesses see perpetual growth as their ultimate aim. This is usually harmless, as expanding a business is notoriously difficult, or usually happens at a slower rate than the management team would like. Occasionally, however, everything just clicks into place. A time of rapid growth is exciting, but it is crucial to exercise a high level of caution and restraint during this period. Here are five tips to help businesses ride the wave of rapid expansion to a prosperous future.
1. Know when to stop
New companies can feel obliged to take every bit of business that is offered to them. However, it is no use receiving thousands of orders and then being unable to fulfil them due to insufficient logistics and distribution. The key to successful growth is sustainability. Otherwise, management will quickly lose control, and the company will soon join the 51% of new start-ups that fail every year.
2. Avoid alienating clients
Many of the business’s current clients and customers are likely to have signed up before the growth started to occur. As a result, they will expect a certain level of dedicated service; unfortunately, rapid growth can quickly depersonalise everything. While it may be hard to provide the personal touch, growing companies should still aim to build lasting relationships with customers. Having the capability to offer ultra-competitive pricing will also help keep clients onboard.
3. Think about cash flow
One of the worst things that can happen to a growing business is that it runs out of money. If a great deal is invested in growth upfront, it can be a while before money starts to funnel back into the bank accounts from various channels. Making use of an invoice discounting or factoring service is an effective way to circumnavigate cash flow problems. Companies can effectively take short-term loans that are secured against their unpaid invoices. This makes accessing working capital easy, at any time of the month.
4. Consider upgrading facilities
It is rare for a new company to initially have the capital available to invest in future-proof IT systems, software, or machinery. This means the infrastructure of a new start-up or even established rapidly expanding business can become overwhelmed and outgrown during periods of rapid growth. The same is often true with office space. A business on the up needs to be perfectly located, have complete freedom to expand, and have sufficient production capacity available. It is far more difficult to relocate a larger business than a smaller one. As an example, if a company’s target market is in Gloucester, taking the decision to move to one of the offices to let Gloucester offers when expansion is still on the horizon rather than after the growth spurt has occurred is likely to be strategically sensible in the long term.
5. Assess staff members
Rapid growth can be a stressful rollercoaster. It is essential that the right people are in the right places within the organisation to manage the growth. A professional and effective management structure should be put into place. Remember that the negative consequences of poor decision making are magnified exponentially as a company increases in size.
Containing enthusiasm at the thought of rapid growth can be hard, but it is essential for the future of the company to keep everything in perspective. Putting a sustainable plan into place – and being proactive to create an environment that can accommodate sweeping changes – is the only way to manage rapid growth successfully.
Today, many employed executives are grateful to ACT (Advanced Career Technologies Ltd), which was set up by Robert Gerberg. He is the managing head of the Corporation and has brought a revolution in the industry. He has explored and discovered various factors, which help a person to get a good job in a company. Gerberg has brought happiness in many unemployed lives and is regarded as a respectable figure in the society.
As a young man, Robert J. Gerberg tried out his career in sales. He was appointed as a managerial executive in a leading contact lens company. He was responsible to execute all the functions of a manager. Eventually, he completed the executive duties at every managerial level at the company.
Gerberg was also in charge of all the programs related to the customer service, product descriptions, outgoing and incoming of products, and also of advertising. He was soon designated as the chief production officer of the company. His work and efficiency in the field made the whole work environment very competitive for the company workers.
Past To Present
Robert Gerberg soon got associated with a recruiting agency, where he worked at several divisions and levels of managerial work. The company was an e-recruiting corporation, which provided job opportunities to every unemployed person. Under his able guidance and managerial skills the company stood out as one of the leading professional resume maker of its time.
The inclusion of search engines to help the customers and site visitors has made the whole job seeking experience very quick and flexible for people. The company has emerged as one of the leading companies today. At present, almost 500 professional workers are associated with the company and are working under the guidance of Robert J. Gerberg.
The company has been running proficiently under his supervision. It has its base in Colorado and is working towards expanding the company throughout the country. The head of the company always prefers to encourage and promote new ideas for helping unemployed people. Sometimes, he personally takes interviews and executes the counseling sessions with people, who are very nervous at the interview.
Planning to refurbish your office can be a stressful task. You’ll need to make a decision on what supplies and equipment you’re going to need, find a reputable supplier, work out a price that works for the both of you and organise delivery and fit the equipment. Just imagining the extent of the work required can be enough to make you want to stick with the equipment and systems you currently have. But this isn’t the only way to plan for an office refurbishment. OfficeMan can provide you with an office refurbishment that is speedy, structured and above all uncomplicated. OfficeMan offer a free service that puts you in touch with the best office refurbishment specialists available. Whether you are searching for IT supplies, office furniture, removal firms or fit out companies, OfficeMan simplifies the job at hand, leaving you free to concentrate on the important tasks that make up the daily management of your company office.
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Lew Perkins is a renowned name in the history of athletics. A great football player contributed many years of his lifetime in serving athletics. He coached many schools and universities. He gained popularity due to his consistent performance. He is praised and supported by all due to his persistent performance.
Lew Perkins – Success Story
He with his great efforts raised the department of Uconn, which was badly ruined. The school was previously behind 12 schools regarding facilities and revenue, but reached great heights with his support.
In 2008, he became the member of NCAA and coached the basketball players. They won many national championships under him. The university reached heights under him. He was very passionate about basketball, and renovated the basketball facilities. He also renovated the Allen field house. He raised the funds from $27 millions to $55 millions with great efforts and dedication. Under him he gained a victory in virgina tech in the orange bowl.
South Carolina institute was previously a junior school, but with his consistent approach and guidance the South Carolina became a four year institute. They won many rewards under him. He was the athletics director and served the institute with honesty and dedication. His stressful efforts yielded fruitful results.
Now coming to his personal life, he married to a very beautiful lady named Gwen Flaum. She was similar to Lew Perkins in many things. He also gained an under graduate degree from Iowa and master’s degree from the university of South Carolina. They are happily married couple and have beautiful children- Amy and Holy. They have grand children. Caroline and Alexandra love their grandparents a lot.
Lew Perkins completely reformed the Kansas’ basketball court and made many facilities available. He is continuously working hard to make the university to compete for national levels.
Lew Perkin- A Successful Married Life
Maryland University and Vichita state university was also a part of his success. He was an athletic director there. With his continuous efforts, he won many rewards like National athletic director of the year award. Presently he is guiding students at university of Kansas as an athletic director. He is working there since 2003. Before working here he was an athletic director in Connecticut. He is soon going to coach varsity girls coach Becky Bridson
Besides being a brilliant athletic director and basketball coach, he is a good husband and father. He worked for the happiness of his family and is leading a happy life now.