How to manage rapid growth
Nick Pollit explores how businesses can effectively manage rapid growth.
In modern business circles, advice groups and seminars, having a growth mindset is lauded as a vital part of doing business. It’s even become a way of life for some entrepreneurs – the maxim of all those who dare to dream they could be the next Steve Jobs, Mark Zuckerberg or Arianna Huffington. But is it really that simple? Nick Pollitt, managing director of office design specialists Diamond Interiors, thinks not.
“We work with a lot of businesses that are looking for a space that’s better designed to meet their current needs,” he says. “But what we often find is that some businesses grow so quickly that by the time they’ve found a location that suits them, they’ve already outgrown it. Sometimes that inability to manage rapid growth can be detrimental to profit and can even put a company under if they’re not careful.”
In this article, we outline five ways to ensure you stay in control without having to sacrifice that positive growth mindset.
This is an extract from the Business & Management Magazine, Issue 276, July/August 2019.
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Full article is available to Business and Management Faculty members and subscribers of Faculties Online.