Business growth places demands on everyone as businesses grow. These demands will stretch you personally as well as those in your team. How you recognise and deal with these growing pains will impact on how successful you and your business will become.
At Beyond Theory business training and coaching we enjoy a very strong relationship with the Chartered Institute of Personnel and Development (CIPD). The CIPD is the go to place for best practice in people management. At Beyond Theory we have access to and draw on their latest research and insights on the people issues that drive business performance. Understanding and working with smaller firms (SMEs) is our joint focus – at Beyond Theory it’s our passion.
This diagram sets out the four phases of business growth as identified by the CIPD:
So which stage is your company currently experiencing?
- Are you in the start-up, entrepreneurial phase? – this is often characterised by the informality that comes with an emerging strategy and fluid structures where everyone seems to just muck in to get things done.
- Or are you an emerging enterprise where things are becoming more formal? – this is where structure and processes are becoming more important although your people management and development remains reactive rather than planned.
- Maybe your company is at the consolidating organisation phase? – this is where business strategy is more planned and a more strategic approach to people management and development is required, with more sophisticated processes in place.
- If you have reached the established organisation phase then you will recognise that you’re focusing on issues such as company culture, optimising employee engagement and developing internal collaboration which will all be integral parts of your people management strategy.
Whichever phase of business growth you experiencing, it is worth recognising that each stage will bring with it different demands on you as a business leader and for those who you manage. Letting go, delegating, recruiting and outsourcing are all issues that place demands on our egos, decision making abilities and leadership skills. Communicating your company values, bringing people with you, team building and trusting people to do the job as well as you all add to the stresses and strains as your business grows. Processes are necessary to have but they must not become a straightjacket – they must enable and not disable.
We know through our own life experiences and those of our children that growing up often brings its pains before its gains. We also know that with the right direction, support and nurturing that growing is a natural phenomenon and something that we all want. It’s just the same in business and with the right advice and support the gains will far out way the pains. Build your people’s success and they will build your business’s success.