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How do you cope when your business gets busy

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Coping when your business gets busier

As a business owner, you’re always striving for more leads, customers, sales and ultimately, profits, but how do you cope when your business gets busy? Being busy is every business owner’s dream, but without the right resources, landing that big contract or being discovered by an influential celeb could mark the end of the road for some.

When there’s sudden demand for your product or service, a small business can become overwhelmed and unable to fulfill orders.  Overnight success sounds great, but without the capital, staff or infrastructure in place it will likely end up being more of a nightmare than a dream.For this reason, it’s important that all businesses, no matter how big or small, have a plan in place in the event that sales start to improve. However, with so much focus on the present day, looking into the future is something that small business owners rarely prioritise.

Here are a few top tips to help you keep your head above water if you’ve suddenly been thrown into the spotlight.

Avoid celebrating

By all means, have a toast to the future, but avoid going crazy. While you’ll feel a huge weight off your shoulders, landing that big contract or great review, is usually where the hard work begins. You might need all the cash you’ve got to keep up with the demand, so don’t blow it all now.

Start planning

You might never have really thought about how many freelancers you need to hire or units you need to produce or get imported. Now is the time. It will all be based on estimates, so don’t expect to come to an exact figure, but it’s important that you start crunching the numbers.

Funding

Now you have an idea of the resources you’ll need to meet the demand, you will need money. It’s essential that you know how much working capital you need – remember you will need money up front. Few people are happy to wait until you’re generating income. One of the first places to go is the bank, but credit cards are also a viable option. Just watch you don’t end up overspending.

busy business

Ask for help

One of the biggest mistakes any small business owner can make is assuming they can do it alone. When you hit the big time, you will have so much to do and only 24 hours each day. Call on your friends, family, colleagues, employees to give you a helping hand.

Communicate

While your business may have suddenly taken off, you likely had customers before your recent success. It’s important that you don’t forget them – they were there supporting you from the start. Communicate with both new and existing customers and make sure you warn them as early as possible if there are to be any delays with their order.

Invest

Let’s say you manage to deal with the sudden success (congratulations!), you’ll probably be reaping in the cash. Rather than withdrawing all the profit from the business, make sure you reinvest to help your business continue to grow in the future.

 

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About Jemma Porter

About Jemma Porter

Jemma Porter is an experienced content creator who has written for a number of online publications. A self-confessed penny pincher; she's often found seeking out the best personal finance deals.

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