Landsker has collectively worked with, and hopefully assisted, over 800 SME’s in Wales since our establishment in 2000. Our view is that there are a number of key factors that are common denominators for success and high growth, so below is our top 5 tips. Some of these are no brainers but here they are anyway. Any thoughts on them, good or bad, we would love to hear from you.
- Have a vision supported by a business plan, and this can be one page, but stick to it. Don’t be afraid to review and alter your course but don’t do this by being distracted, adjust it after considered thought.
- For those of you that are leaders get used to delegating and trusting others. The earlier you start to empower others the less YOU will be the restricting factor for your business’ growth.
- Don’t compromise on your key people. Either pay the rate needed to get them or don’t appoint them. Make sure they are clear on and part of your vision and the business plan.
- Use ICT to your advantage, at every opportunity. Embed good systems and processes as early as you can and ensure that they can grow with you. Where possible avoid bespoke solutions, they may hinder you in the long term as they could be a nightmare to support or to integrate with other systems.
- Enjoy and love what you do; have passion for your business (whatever it is). If you are not passionate and enthusiastic about it, stop what you are doing; your disaffection will affect others. Life is too short to build a millstone.
For more advice or guidance on SME growth, please call the office to have a no obligation, free chat to one of our consultants.