Best Growth Advice
The two best pieces of advice we have for companies planning their growth phase were adapted from when we were becoming parents and planning for family growth.
- Prepare for the fundamental needs as the business is growing.
- Don’t plan too far in advance as you don’t know how people or the industry will change if you look too far forwards.
When growing your family, you know diapers are something you must have on hand. Similarly, when the business is growing, you must have the infrastructure to support that growth. With money being spent on getting new clients, it is important to convert that into revenue. Similarly, you should not invest too far ahead. It is essential to be flexible during the growth phase as people or the industry can change, or unexpected events occur, as we all saw in 2020 during the COVID-19 pandemic.
Benefits of an Agency During Growth
Planning for growth is not the same as achieving it. Even if you have the best plan, you may not have the in-house resources available to achieve it. Using an agency is a solid strategy to both plan and implement your growth strategy. Benefits an agency provides include:
- It is easier to make changes to respond to business needs
- It brings in the perspective of an outsider that can offer new ideas
- Reduces initial investment into internal infrastructure and human resources needed to support the growth
- Allows in-house staff to focus on converting new clients into more revenue
- Ability work with any current in-house marketing teams
- Easier to end the relationship if you outgrow the agency.
There is no requirement for your relationship with an agency to last forever. If your goal is to have an in-house marketing team, a good agency will be able to help you set up the systems and processes required and plan for a successful handoff. Open communication with the agency of your goals and making them part of your decision-making team will lead to better long-term success for everyone involved.
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