Expanding Your Business? Don’t Be a Victim of Your Own Success

Success could be everything you might have dreamed of, but it can also be a double-edged sword. While you are seeing an increase in sales of your product or service, there are also likely to be strains on your business. If you don’t address these correctly, it can put a quick end to any good feelings you might be experiencing, and even put the future of everything you have built into jeopardy.

Of course, it does not have to be that way, and by paying attention to the changes in essential parts of your business, you will be able to combat any problems you come across and allow your business to expand even further. Continue reading to find out how to avoid being a victim of your own success.

Consider your premises and the location of your workforce

Source: forbes.com

If your business is getting bigger, it doesn’t necessarily mean you will need bigger premises. If you sell a physical product, you might need more space for storage to meet greater demand, but you don’t have to increase the size of any office space and the costs involved, and it may even be the perfect opportunity to restructure the way you work.

For example, if you were to move to a remote working or perhaps hybrid pattern you would require fewer desks – even with an increased headcount. You could also recruit from further afield, meaning you can get the best person for the job, not just the best person willing to make the daily commute to your office.

Boost your online security

Having a large, distributed workforce gives both you and them incredible flexibility; but you do need to make sure that you are allowing them to access all of the files that they need, and giving them space to store their work. If you are expanding and will need a flexible solution, then using AWS S3 could be a viable solution.

Of course, with this many people storing data on your cloud, your will need to manage and ensure it is safe. Finding the right S3 bucket security solution is an absolute must, especially if you are still a bit new to how the cloud works, as you might be unwittingly leaving the door open for those with malicious intent.

Source: mycomputerworks.com

Ensure your supply chain is up to the task

Once you have your internal and online infrastructure sorted out, you need to look at what is coming into your business and what is going out. That means looking at your suppliers of parts and materials to make sure they won’t let you down as you get busier, and ensuring that the shipping companies that deliver what you sell can cope with the extra workload.

This is often overlooked by many expanding businesses, who suddenly find they are out of raw materials because they either haven’t communicated correctly with their supplier or haven’t put a backup plan in place. The same is true of businesses that have customer orders still sitting in the loading bay because they filled up their normal pick-up, and the courier can’t accommodate the extra number of packages.