Is your business prepared for rapid growth?
To help businesses respond effectively during periods of rapid growth, a new on-line guide has now been launched by Business Queensland.
The Responding to Rapid Growth Guide provides useful information and strategies for dealing with growth, and gives practical advice for:
- responding to cash flow shortages
- dealing with staffing changes and skills shortages
- moving premises
- continuing with good customer service
Some of the key questions for businesses looking to grow their operations are outlined in the following checklist:
Analysing your business
- Do you know where to find advice and support?
- Have you conducted business and market research?
- Have you reviewed your business and marketing plans?
- Are you aware of standards and codes of practice?
Improving your internal processes
- Do you need to change your business structure?
- Have you considered improving your financial management practices?
- Have you considered your changing legal obligations?
Growth in your workplace
- Do you need to employ people?
- Have you considered training for yourself or your employees?
- Do you need to move to bigger premises?
Opportunities for business growth
- Can your business benefit from innovation?
- Have you thought about expanding your business online?
- Have you considered franchising your own business?
- Can your business benefit from applying for tenders and contracts?
- Have you thought about introducing environmental management practices?
- Is your business eligible for grants and financial assistance?
- Have you thought about exporting goods or services?
- Have you thought about importing goods or services?
To find out how you can build and execute growth strategies, download the Responding to Rapid Growth Guide.