As the owner of a thriving small business in water damage restoration, growing your business is likely one of your top priorities. As your business grows, you can expect certain challenges along the way. In fact, these obstacles are so common in the company growth process, we’ve been able to outline them into stages.
Moving through each of these stages is so much more than white-knuckling it when the challenges come. We know that, for many small business owners, you owe a lot of your current success to your ability to put your nose to the grindstone and keep working hard until the job is done.
We hate to break it to you, but that approach won’t work anymore. As your company grows, you will no longer be able to use the same strategies to juggle the demands of the business. Now, before you step into the next stage of growth, you have to begin thinking about what systems you will use that allows you to expand reach without moving backward or jeopardizing the health of your business. In the next series of blog posts, we plan to help you do just that.
What are the five stages of growing a water damage restoration business?
Before we dive in, let’s take a look at the five stages and what you can expect from each. This will give you an idea of where we’re headed over the next several weeks on the blog.
- The Existence Stage: This is a stage you’re likely already familiar with. As the owner, you’re probably doing most of the work and the wellbeing of your business is dependent on your ability to get more work.
- The Survival Stage: This is the second stage of growth and it usually comes when you business is starting to profit. You still really depend on getting new customers. Hopefully, by now, you are able to step back and focus on growth and delegate more work.
- The Success Stage: When things start to feel really good, you’re probably entering the success stage. You’re faced with a decision here — will you work on maintaining your current workload or try to take things to the next level?
- The Take-Off Stage: This is the next step if you’ve decided to continue to pursue growth. At this point, you’re going to need healthy cash flow to finance more staff and more equipment so you can take on a lot more work.
- The Maturity Stage: At this point, you are a leader in your market. You aren’t working in the business at all, you are working on expanding and overseeing management.
Let’s Grow Together
Over the next few weeks, you can expect a closer look at each of the stages listed above. Not only will we describe what you’re experiencing in each stage, will outline strategies for overcoming the challenges. Members or More Floods will be able to turn to the systems we refer to in these blogs and implement them. To learn more about joining the network, click here or call 1-866-667-3356.