One of the recognizable signs of growth in a company is expansion in worth and size. In the history of most fortune 500 companies, there was a time when there was a need to expand beyond their horizon. It’s always a challenge which can be surmounted relying on these proving practices of companies that has gone through the growing phase.
- They Make Good Hires
For every new office to be opened, there is a need for it to be manned by qualified professionals. These companies don’t only hire the right man for the job, they also ensure they are trained in line with the achievement of the organizational goals.
The organization's culture is the guiding principle that determines the hire. To survive expansion, ensure you put a round peg in a round hole.
- Assess The Sustainability of The Growth
It’ll be suicidal for a company to attempt growth without knowing the level of sustainability. As a growing firm, be sure you can handle the ups and downs that are bound to surface with growth.
Don’t start a thing you cannot finish. Be sure you have the right and enough resources, both man and material to handle you new expansions.
- Run a Centralized Database System
Businesses that have survived the growth stage are known for putting in place centralized structure. For instance, the same accountant attend to your books in Company A and B, no need to hire a different accountant for your new offices; or to have your database centralized in cloud instead of having a server in each of your branches.
By putting in place a platform like NESTED, you can manage all your companies through a single login. NESTED also offers cloud benefits where there will be no more server to manage.