ArtShine

The Master Plan To Upgrading Your Business

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The big concern for every single business owner right at the start is the cost. It’s simple, reduce your overheads and expenses and everything else works out alright, right? Well, it’s not that simple, but all sorts of startup founders find themselves grappling with major issues while getting their startup to run full throttle. And if you can keep the costs down combined with a strong vision of where you need to go, then you’ll end up improving and, finally, upscaling the business. This is really what you need to aim for, so, once the business has found its feet and you’re in the process of upscaling, what can you do to make it an easier transition for every member of staff, old and new?

Keeping Your Staff Happy

The one thing every member of your staff demands from you is respect. And not just in the personal way, but pay them the appropriate wage for their work. Otherwise, they’ll be looking elsewhere. As your business is increasing turnover and profit, staff will expect a rise in their monthly paycheck, especially if they’ve been working nonstop for 12-months while you got your company off the ground. The sticky issue when you’re upscaling is whether to hire freelancers because permanent members of staff could potentially feel insulted, but as you may require extra pairs of hands on deck for a short period of time, it’s necessary.

Keep Your Practicalities In Mind

The logistics are something to really consider when it comes to upscaling your company. Do you need larger premises? If so, but you’re stuck in limbo, do you need to find storage facilities in the meantime? There are plenty of warehousing opportunities for you to store equipment, especially if you have already purchased more equipment but the new property has fallen through, or you have yet to sort out the lease. Practicalities and logistics will be a massive headache during any improvement process, so it’s best to make sure you have a handle on the proceedings. It may be beneficial to make the most of maintenance and safety checks while you’re stuck in that proverbial limbo before upgrading you your new property.  

Keep In Mind The Bigger Picture

This should always be in the forefront of your mind. Upscaling and increasing your business, be it over a few locations, or you’re moving to larger premises, you will have to consider whether this is your end goal, or will you be moving up the ladder again? The sign of upscaling means that you are doing well, so when the option comes to upscale again in the future, will you take it? Is it something that your business will be able to cope with on a large scale? And is the scale feasible, or is it even in keeping with your original business plan? The bigger picture needs to be a constant in your master plan. Upscaling a business is always a great sign, but making the transitions as smooth as possible can be difficult.

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To your success,

Vinh Van Lam & Stuart Horrex

Your Coaches ArtSHINE industries

 

About The Author

I am a Business LifeStyle coach who specialises in working with artists, designers, crafters and all creative professionals. Myself and my partner Stuart Horrex are here to help you to achieve your Life & business goal and dreams. We have had over 20 years experience in finance, retail,furniture,food,wine fashion,crafts and hospitality.

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