Plan For Your Growth
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Plan For Your Growth
The only thing worse than not making enough sales is making more sales than you can comfortably manage. This can result in you losing some important customers, if your product and service can't live up to expectations. If your company is growing rapidly, plan for that growth. Make sure you can keep up with demand so that you don't have to turn down business, or lose it by trying to keep up.
Expansion: If you manufacture a product and sales are increasing, consider your space. Is it big enough to accommodate your projected sales one year from now? If not, start making plans now to add space, relocate to a larger facility, or outsource some of the work.
If you're in a service industry and your current staff is having trouble getting the workload done, hire more employees. By doing this, you will be able to meet deadlines and keep customers happy.
What's Next? If you're slammed with sales, you may feel like you don't have time to consider what your next step is, but you should. Will you keep growing at the current growth rate as is, or will you need to make major changes to the organization? Depending on the level of sales growth, you may need to form a new department to better manage the process, or if your exit strategy involves selling your company, you may choose to do so while sales are hot so you can negotiate a great sales price for your business.
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