» Keys to Managing Business Growth

 

As wedding professionals, we know that this season is a very busy time! Between managing clients and preparing for their special days, to staying on top of inbound requests and sustaining your business, there is very little time to think about developing your company’s future!

Sometimes, you may find that your requests for business have outgrown your man-power. While this is a good problem to have, it is important to find some time to dedicate to expanding your business in order to keep up with the growing demand for your services, while generating more revenue!

Here are a few key considerations to keep in mind while managing the exciting challenges of business growth:

  • Maintain focus on the customer and their experience

Despite how busy you may be, it is important to treat every client like they are your main priority. This will help to develop a sense of mutual respect, and will put your client at ease as they are preparing for their special event. Creating a positive customer experience is critical for ensuring they enjoy your services, and would recommend your business for future events or to friends and family. This helps to continue your business’ growth, while also developing your positive reputation in the industry. Don’t forget to pass their positive feedback along to other engaged couples by asking them to submit a review of your service!

  • Devote time to creating future value and business plans

Set aside some time each week to assess your business. Taking the time to reflect on your ongoing projects and how they are doing, setting your priorities, tracking your budgets and finances and reflecting on your business goals will help you stay focused on your business’ health and capability to grow. Do you need to hire more employees? Do you need more office space, or a company vehicle? Are you charging enough for your services to make it worth your time? By reflecting on your needs from a business standpoint, you will be able to continually assess how your business is doing financially, and determine areas for future growth and change. This will help you to start planning what your business will look like in 18-24 months.

  • Stay on top of your finances

It is extremely important to manage and stay on top of your finances. Whether you handle them personally, or have an employee or accountant to help, as a business owner you should always be aware of your cash flow, projected profits and expenses. Taking the time to both understand and assess your financial situation will help you to determine areas for improvement, how to spend your marketing money, which clients are most profitable and how to grow your business accordingly.

  • Value your employees and business culture

Whether you have one employee or a hundred employees, it is very important to ensure that they are happy in your work environment and are able to provide their feedback as valued team members, especially as you look to expand your business. When employees are content in their work environment and doing work they enjoy, it is proven that they will be more productive and committed team members. Be sure that you model and reflect the values that you would like your employees to follow in order to set company standards. Ask for their feedback on the workload, how they like their role, and how they would like to personally develop. Find out the elements of your work environment they most enjoy, or if they would like new chances and opportunities. Not only will this open the line of communication and help to develop strong and committed employees, but it will also set a positive and professionally engaging work environment for new employees.

Growing your business is very exciting, and hopefully these key considerations will help to effectively assess your business and create a strong plan for positive growth for many years to come!