Now what happens if your star employee decides to leave? Imagine this scenario…

Your Super Star has worked with you for years – he started as a junior, showed up diligently everyday, worked hard and smashed every task given to him.  After a year he started getting more responsibility, and he stepped up, and up and just kept on winning. Fast-forward a few years and the company has grown and Super Star is still the poster child. Every performance review has been glowing, with regular salary increases and promotions. And then one day, in your peak season…Super Star says they have gotten an offer at a new place…..

We have worked with entrepreneurs who never expected and never imagined that it would destroy your business. That’s not your portion so lets get in front of it!

Here’s how:

1. Every position is replaceable, you first need to accept that. Never rely on one person solely.

2. Build your company with redundancies. This is the concept of ensuring that there is no one staff who knows it all alone or is so critical to the business that you can expect failure of some sort of they left.

3. Cross – Train. Institute a policy where your team has to pick up extra skills in another department every quarter. This will save you during a period where you have a gap.

4. Create Standard Operating Procedures. These documents will enable someone to pick up and continue where a vacant position is.

The nature of entrepreneurship is growth and adaptation, so you must always be prepared for a change. Put some fail safe conditions in place now.

Extra Tip: If you are ever on the flip side and have to Manage Poor Performance, check out this guide.

Hi There,

I’m sure you’ve dreamt of scaling your business, expanding, growing (insert big picture goal) here.

Kudos, high five, awesome! I’m glad that you have an audacious goal in mind because a journey of 1,000 miles starts with a single step and YOU CAN DO IT.

But hold your horses, don’t move too fast without a proper assessment. Have you ever heard the saying “don’t put the cart before the horse” in other words don’t do things in the wrong order.

Scaling is one thing, but sustaining the growth is another. Don’t be a statistic and fail because you grew without a solid foundation.

I’d like to share 7 ingredients to scale successfully.

1. Document all your processes, procedures and policies
2. Build a strong management and governance team, upgrade your team members and their skillsets. Give them new experiences.
3. Focus on key objectives to achieve in your company. The fewer more impactful things, the better and you must ensure that there is accountability
4. Identify your company culture. There may not be a system for everything in your company but your culture will help your team make decisions when no system exists
5. Systemize – anything that is a routine activity should be systemized so that they are simpler, easier and faster
6. Finance – can your business model handle scale? If you are in a brick and mortar business it will take capital to open multiple locations, what is your cash flowing saying? Can it support the vision? Do you need to raise funding?
7. Distance – as the owner you need to give your team space to stand on their two feet and grow. Often times when the owner is always present the team reverts to you for decision making. Spending intentional time away will help validate that your company is ready and will help with growth and maturation

So now ask yourself,  are you ready to scale your business? If you need help with documenting processes and want to empower your team, grab the SOP workbook here.

If you want to chat about this further and confirm if you the right track, contact us here for a 60 minute one-on-one virtual session.

Related Tag: Business Plan Template Sample

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