At this point, it is wise to take some time, step back and rethink about your business from first principles: what do you personally want to achieve from your business? Look at your systems and processes: do they reduce your workload and will they be fit for purpose as you grow? How much of what you do is necessary, and how much of it is now outdated tradition? Look at your staff: who can you grow to take on some of your tasks, where are the gaps? It is time to refresh and restart your business; that means looking at what is contributing to your goals and what isn’t. Create a new plan, redo your forecasting, reassess what roles are needed in your business and re-evaluate your own role and tasks. You can’t do it alone. We suggest that this is the stage where you will see the greatest benefit in getting an outside mentor or business coach, and in joining a business networking group. This will help you to rapidly put changes in place and will help you to understand the potential impact of the changes you will make. Successfully renewing your business will reduce your workload, better manage your cashflow, increase your profit and set the business up nicely for the next phase of growth.
Quick Focus Business Plan – A short and simple business planning template
ANZ Biz Hub – Tools and information around growing a business, from ANZ
Westpac Business Resource Centre – More tools and information around growing a business
Workplace Policy Builder – A free tool to help you develop formal workplace policies
Common Business Milestones – A guide to help with growth events
Lean – A fantastic method to increase productivity and reduce waste
Research and Development Grants – Funding to help you solve technical problems
Funding Explorer – A tool from business.govt.nz to help you work out where the money could come from
Mind Tools – A website with a huge number of resources and self-analysis tools
The Brainstorm Room – inspiration and resources
TED Talks – Stimulating seminars about business
Business Management guides – Advice from Xero
Advisory Board Toolkit – Get outside expertise involved in your business
Forbes – An article on growing your business quickly
Fast Company – Article: ‘5 Essential Principles for Growing your Business’
Forbes – Article: ‘Five Reasons 8 out of 10 Businesses Fail’
Inc. – Article: ‘Why 96% of Businesses Fail Within 10 Years’
Provincial Growth Fund – Investment or loans for commercial growth that will lead to jobs and community benefit
Resources provided by Enterprise North Canterbury
