In business, there are several challenges that you are going to experience. One thing you can count on, is that by the time your business is actually successful, you will have gone through thick and thin and survived it all. In fact, if several of the articles written by the different business magnates are anything to go by, there will be times when you wish you had never started the business in the first place. In fact, some of these times you will be on the verge of giving up and walking away. In the same vein, there will be periods of plenty when you will posit that the best thing you ever did was getting into business in the first place. What comes out clearly when all these experiences are narrated is the fact that the growth of a business goes through different phases. These phases and your adaptation to what they bring determine either your success or failure.
In this piece, we are going to focus more on the fast business growth phase of a business. This phase is characterized by a lot of work. For you as an investor, or as an entrepreneur, the fast business growth phase is when you will find yourself in the office very early and leave very late or in some cases spend overnight in the office just to meet your deadlines. The fast business growth phase comes right on the heels of a lazy period when you have just started out and you do not have much to do. Often you are waiting for clients and waiting for the business to pick up. This means that the orders you will be handling are not as many as you would like. All of a sudden, as your brand becomes more popular, you being to notice that you start spending more and more time in the place of work filling up your customers orders and ensuring they are delivered with the right quality. At its peak, it is not uncommon to find people pulling off one hundred hour weeks at the office just to get everything done.
At this stage, often the temptation is to hire help so that you can focus on other things while the business continues to run. This in itself is a good thing since it helps you focus your energies on high value activities that will bring in more income to your business. However, it is important to note that it is during this fast business growth phase when you actually get to learn the business and understand how it works. During the fast business growth phase, you immerse yourself in your business and since you are handling virtually everything, you become aware of the way the business runs. You get a deeper understanding of what the business needs and how best to reduce costs while maximizing profits. If you come out of the fast business growth phase successfully, then you can go ahead and hire help, giving them direction on what to do and what you expect.