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Small business leaders must plan for growth

Almost every big business was once a small business. Think Apple: Suburban garage to global technology super star !

There will be another Apple. Chances are it will be a start up that is looking for seed funding today. It might be a new idea from a successful entrepreneur who is just starting out in a new direction. Think Elon Musk: He founded PayPal, Tesla automotive and Spacex.

As a start up or small business expands it needs more resources in terms of office equipment, people, suppliers, finance, logistics and work space. Business growth often expands exponentially when more and more resources are acquired to fuel the operations. What if a start up or small business leader could think ahead and plan for business success earlier?

Money is often a limiting factor but what if better office equipment such as a laser printer or better qualified staff working from better office space, were available from the start. From Day 1, business growth would be accelerated. As a result, the business would be operating more efficiently and gaining new customers sooner.

It is not unlike the accelerated university degrees on offer at Bond University, which is a private operation that sets its own rules. Undergraduates can work harder by completing three year degrees in business related courses in just two years. The graduates are earning a year earlier than their peers and have a head start in learning more about their chosen fields, which has the effect of keeping them ahead of their competition.

It is the same with founding a business. Get ahead faster!

*  Pick the best people. Conduct psychological evaluations, validate information on resumes and check references carefully.

*  Choose the most impressive and well located business space. Pay more in rent but be more accessible and visible to potential customers.

*  Buy the best office equipment and work tools including laser printers to produce office reference materials like hard copies of work place manuals.

*  Invest in efficiency generating information technology to make your workplace a leader in adopting change.

*  Build in flexible hours to your staff's daily routine so that family life can adapt to work needs without stress.

*  Invest in research and development. Spy on your competitors to see where you stand in the marketplace.

*  Follow hunches. Don't dismiss ideas easily. If you don't have time right away, make notes and come back to them later.

Making a small business into a big business is not all that hard. With the right idea, personal drive and support from a motivated team, it can be done if momentum is boosted with insightful advanced planning.