Your business is a huge success. You get new customers every week. Your schedule is full and your team is busy. It’s really exciting. This is exactly what you dreamed about.
But is your business ready to grow? Can your back office – your financial and operational processes – keep up with your growth? When things are taking off is not a good time to find out that your processes can’t keep up with your growth.
If you’ve been in business for a while, chances are you’re using the same processes and procedures you set up at the beginning. Back then, you had limited funds to invest in infrastructure. Plus, you had no idea what information you needed to get real-time visibility into your business and make informed decisions.
Now is the time to for a process review. Can you rely on how you are doing things now? Do you have the systems and skill sets you need to stay on top of your business and stay ahead of your competition? If you don’t have them in-house, can some of those skills be outsourced?
Answering these questions is not an easy task. Plus, it takes time away from running your business. Not to mention that assessing processes is probably not your greatest passion. Consider engaging a professional that specializes in internal controls or process improvement. Your accountant or CPA is great at recording your financial activity. But he or she may not have the training or experience to examine your business processes and help make changes that will support your growth.
Now you are poised to grow. You know what you need to manage your business. You have the resources to invest in your back-office infrastructure. This is the perfect time for a qualified internal control or process improvement professional to help position your business for further growth.