How to grow your business without suffering from growing pains

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How to grow your business without suffering from growing pains

As a business owner, your aim is to grow your business (or at least it should be).

You may have started your business to enjoy the entrepreneurial lifestyle, to fulfill a lifelong ambition, or even just for the challenge. But now that it’s up and running, you should be trying to grow it as much as possible to maximize your return.

Unfortunately, growing a business to the point where you’re comfortable with what you’ve achieved isn’t always easy. While some people seem to have a natural talent for it, most of us are gripped by fear as we worry about the risks and uncertainties.

It’s one of those challenges that seems to bring up more questions than answers. How will you fund it? How can you tap into your target market? What additional resources do you need, and when?

And you won’t always like the answers. You may have to drop some day-to-day tasks or even entire services that you’ve worked so hard to establish. You may even have to take your entire business back a step so you can grow it in a new direction.

If you need an accountant in Auckland – feel free to reach out. Why not call Insight CA Limited to discuss the next steps? Call 09 309-3222

It’s all about switching from working in the business to working on the business. And it’s what’s needed to become a successful business owner.

Then there are the challenges of running a business in the digital age. What systems, apps, platforms and strategies should you use? Do you need to cater for mobile and tablet users? Will cloud technology make things easier? What about social media?

Here’s What The Market Trends Are Suggesting:

Over the past year, a lot of web redevelopments involved optimizing them for mobile devices.
IT and marketing are converging, and the gap between the two teams is quickly narrowing.
This, combined with rapidly evolving digital marketing, is transforming organizational structures.

You can’t (or at least shouldn’t) ignore these trends. Instead you need to find out how they could affect both your business and your industry in general.

For many small business owners, the potential for growth is just out of reach because they’re constrained by their own internal business frailties. They focus more on what they do best, and less on the parts of the business they’re not so confident about marketing, selling, investing in business systems, governance and process improvements, or even just tapping into additional resources. And while it’s perfectly understandable, it often hampers their ability to grow the business.

Unfortunately, it takes time to get to grips with all of these. And you’ll get only a fraction of your time back once you do. But they’re all highly critical to the success of your business. So what can you do?

Instead of spending the time and money to get up speed yourself, find someone who already has the expertise and let them look after it. You’ll then be able to spend the time focusing on what really matters, knowing that everything else is being taken care of by experts.

And peace of mind is something you can’t put a price on.

Are you struggling to make your business work?

Insight CA Limited is a team of experienced Auckland-based chartered accountants and business advisors who can help. We’ll give you the power to see what’s really happening in your business, so you can take control and start making progress. Click here to learn more about how we can help you achieve your goals.

Murray Phillips

Murray is an experienced Business Advisor and Chartered Accountant who works with businesses to reignite their passion for business success. Murray’s forward thinking advice is drawn from his wealth of experience in managing and advising small businesses, large firms and multi-nationals across industry segments for over 30 years.

Insights /

How to grow your business without suffering from growing pains