Growing a small business isn’t as simple as funding a few large investments geared towards increasing demand. You might have obtained your new property, new staff members, or new inventory, but who says the business will immediately know how to handle this new level of demand or take productivity to unprecedented heights?
A small business with growth on its horizon must also undergo a dramatic transformation that prepares all employees for short-term and long-term goals. This transformation typically involves putting more focus on repeatability and scalability, both of which will ensure that employees can do their jobs well over long periods of time and use their time as efficiently as possible.
Training And Metrics
Early employees of young businesses tend to have their own way of doing things. They didn’t start out with people working under them and therefore never had to develop a documented regimen that any new employee could easily pick up. When a new employee came on board, whomever was in charge of that department sat down with the new hire and explained how to complete basic tasks. It was then up to the new employee to, like his or her superior, figure out which strategies for completing tasks worked best for their individual tastes.
This isn’t going to work when the business is edging towards taking on droves of new employees and, due to increased demand, must make every minute of every day count. In order to quickly get new employees up to speed without compromising the time of their superiors, the business must create detailed training processes that answer most task-related questions the new employees will have. New employees should also be able to see if they are making progress on their own, rather than having to meet their superiors to ascertain if they are doing something wrong. Many businesses accomplish this by implementing standard metrics and company-wide reporting of performance-based statistics.
Every Day Counts
At United Capital Source, we understand that smaller businesses cannot afford to let operations slow down for even a few days while new employees are being trained. They need a certain amount of funding to keep their business running month-to-month, and might not have the funds to cover the recruitment of numerous new hires on top of regular expenses. This is why we offer short-term working capital loans to businesses that are taking on new hires during an important transition. With these business funding programs, you wouldn’t have to worry about a decrease in revenue compromising your ability to stay productive in the months that follow.
Senior Leadership Teams
A common struggle of small business owners is building a management team to oversee a newly-expanded roster of employees. Should they promote the earliest employees or search for more qualified candidates and trust that they will mesh well with the rest of the company? The latter choice could be critical to the motivation of other early employees who shined by working directly under the company’s founders. A company that is prepared to grow, however, has already identified the early employees who have the potential to be great leaders. The responsibilities they are trusted with have been steadily increasing in number and significance over the past few years. This shows the business owner who he or she can promote and replace with an external candidate.
They Won’t Pay For Themselves Just Yet
The truth is, most business owners neglect the aforementioned identification process and therefore wait until the last minute to build management teams. They need cash at a moment’s notice, and would endanger their business’s financial health were it not for alternative business financing companies like United Capital Source. Our business funding experts can quickly approve and customize small business loans that will supply more than enough funding to keep your business running smoothly until the new managers begin to pay for themselves. Rather than waiting until you have more money, let United Capital Source finance your promotions or new hires with our innovative funding programs that allow you to pay off the brunt of the debt when the management team is in full swing.
The final and arguably most important characteristic of a business that is prepared for growth is the maintaining of company culture. Early employees of newly-expanded businesses often reminisce about the past, when co-workers felt more like friends, everyone abided by the same code of conduct and the founder exclusively decided who to hire. In other words, they long for the company culture that first set the business on its path to success.
We are proud to inform you that you can maintain company culture by refusing to let stress, limited financial capabilities and hasty decisions take over your business. These are just some of the countless benefits of taking out a small business loan from United Capital Source, which is dedicated to making sure the business owner remains in control of his or her business and can therefore avoid making sacrifices that could hurt your employees and customers.
Whether it be through credit card processing loans, a business line of credit or working capital loan, our funding programs will allow you to concentrate on what you’re best at: running a successful small business. Trust us when we say you won’t believe how much more you’ll be able to get done when you don’t have to worry about paying your employees the salaries they deserve!