Congratulations! This means that you are just starting your growth journey. While this can be daunting, it is important that you have a very clear picture of the following steps you need to take to reach the levels that will guarantee new business for your company.
Here are some recommendations based on your answers:
You may want to prioritize building a strategy that defines where you want your company to be in the next few years. A good starting point is by checking your past growth and estimating how much you could grow if new opportunities knock on your door. Also, pay attention to your mission, vision, and values, as they should be the steering wheel of your whole strategy.
You are probably just discovering what sales pitch works for your company. Still, you have not had the time to think about a marketing strategy or a sales capacity that could guarantee that you continue growing your potential clients’ roster and that allows you to nurture good relationships with them. You may want to start by thinking about who your clients are by segmenting them and what processes you need to establish to guarantee continuous growth and fidelity.
If you are not a finance expert, you may be struggling with keeping up with your company’s financials. Keep in mind that this is one of the most important aspects of running a business. If you want to access a loan or even close a contract, up-to-date financial statements are going to be required. Likewise, if you are on a growth trajectory, your cash flow will be a vital source of information.
At this stage, you may want to start documenting the most critical processes in your business and the costs implicated in each of the key activities. Considering aspects related to risk management, sustainability, cybersecurity, will help you set the ground for scaling your processes and becoming a professional company.
Your team might be small, but that does not mean that you cannot start implementing good human resources practices. Investing in people does not necessarily mean that you need to spend a lot of money. Start by understanding what your collaborators value and exercise your leadership skills around those needs.
WECONNECT INTERNATIONAL RESOURCES
Strengthening Market Access for Women-Owned Businesses is a project by the Asian Development Bank and WEConnect International, supported by JP Morgan, that seeks to generate long-term opportunities for WOBs to connect and conduct business with large buyers, including local and multinational corporations, government agencies, and non-profit and non-governmental organizations.