The change that a business can undergo from a small, home-run startup to an official company is a big one. On one hand it means that you are successful enough and gaining enough income to start scaling up the organization properly, on the other hand, you need to start to start the processes in place to make your company “official.” It isn’t small fry anymore, you’ve hit pay dirt, and you need to reflect this in your business choices. So where do you begin?
The first stage in getting your business officially scaled up is to figure out what you actually need in order to maintain the amount of demand on your product, and to push the product further so the demand is compounded. The best start is to look at your business plan. Does it now need altering due to the change in size? Your business plan should be a manifesto and a bible and using this plan as the all-encompassing tool to lay out precisely your business ethos, style, brand, and how you are going to communicate this to the world. Using this plan will go some way to protect you from straying too far off course, and at the same time, show projections as to how your company will continue to grow.
As with every business that grows, you need to have the right staff to implement the growth and to monitor it. Choosing the right staff can be a lengthy process, depending on how you go about the task. Putting adverts online can mean wading through piles of irrelevant CVs. Be ruthless in your choices. If the CV doesn’t appeal to you based on the first few paragraphs, it is not for you. Be sure that when you advertise the position to be as specific as possible. Having general posts about general duties will have all walks of life applying for the job. You need to not just work with these people, but also sustain a relationship. The people make the job, remember that.
Making sure you have the necessary documentations before you trade properly, such as public liability insurance, is incredibly important if you are working with third parties on a personal level. Public liability insurance will cover you for any issues should legal action be brought on you. If you are a bit green when it comes to legal issues and knowing your fine print, researching everything before making the upgrade will benefit you greatly.
The location of where you work is now a big factor in your company. You cannot simply work out of your own home anymore. Finding an office space that suits your specific business needs will determine things like work morale, technical requirements, and the physical location on the map are what you need to research. Is your office space commutable by staff? Does the work you do require a server to be purchased so it can deal with the amount of data being processed? These are all things to think about.