How to expand your small business and get a shop, or corporate office and hiring employees
How do you expand your small business and hire the right employees? We know all too well the cost of hiring the wrong employees, so this week we are giving our best tips on how you can expand your business and hire employees with success:
1: Do NOT HIRE FRIENDS AND Family; it can turn sour and you can loose friendships! It’s not worth the hassle, even people you think you know, might not actually be a good fit for your company.
2: Create an employee handbook: identifying your employes role, expectations and offer a trial period in their contract as well as company policies, complains procedures, sick and holiday information and any benefits they may have. Make sure you are up to date on all current regulations for your country for employees.
3: Ensure the employee matches your brand values and is motivated, excited and wants to work for your company. The last think you want is someone who does not align in what you do, or wants to actually work.
4: Don’t skip on the background check! Not only give interview and check the references, but stalk them on social media and linked in. What type of person are they, are they professional and be an asset to your business, or do they look like they would be an issue.
Do you work from home but are considering expanding and getting a shop, or office unit for your small business?
Firstly, if you are receiving ‘high traffic’ in your home and disturbing your neighbors if you live in a residential property, the council may ask you to vacate working from home.
Other reasons for expanding are;
an increase in demand for your service and making a profit for at least 3 years, the industry is growing and you have more demand than what you can handle and your running out of room!
Do your research:
Check out local places and how much they cost, consider if they are in a desirable location and if there is any added set up cost, such as decoration. Cover all bases like parking, the ease of getting there for your clients, or for you to get out to the shipping distribution ect.
Do your numbers:
Your finances for the added costs for the business and how this will impact you and if you can handle it, should you have a rough month and how you can prepare for that without getting into debt. There is no point in expanding to a bigger place if it’s too expensive and then you stop making a profit, or loose costs because of it.
Expanding properly:
Think about your processes and how you can handle the bigger demand and if you need to add into your workflow, and expand your software technologies for your growth.
Consider additional personal development on managing a team and improving your customer service skills for your business growth, like knowing how to effectively light your space and the layout and display of your offerings to make them the most appealing.
This is not an overnight task and will require you to be able to strategize and plan, to avoid running into debt and having to abandon your shop if you do not have enough demand.
We hope this post gives you the information you need to feel inspired, empowered and educated.
So, are you ready to make the leap?