Have a Plan
Strauss says a common and costly mistake SMBs make is to neglect the creation of a cost-focused, contingency based growth model. Without such a model, a growing business will not be able to accurately plan for the needs and scale as it produces, sells, and delivers more of its wares and services to a greater number of customers. For example, a company which exceeds its annual growth projections may ultimately fail its customers, because its operational needs will grow beyond current capabilities. Warehouse space can quickly become insufficient, operational systems inadequate, and staffing levels and quality may be insufficient for higher required volumes, to name a few issues. Responding to problems will result in reduced customer service and putting out fires in higher operating costs, he says.
