What actually matters for small businesses will change as they grow from a small business (1-5 people) to a considerable enterprise (>100 people). Let me explain further:

  • As you grow, you must balance work and life—which is one of the reasons to start your own business—since it's erratic when running a business.
  • Then again, finding opportunities for other people—a pretty cool perk when running your business—grows in value.
  • Productivity will decline as your small business grows. Smaller businesses with less than 10 people usually orbits around the owner and pays a higher amount per employee when compared to 100+ employee companies.
  • Simultaneously, expanding becomes the main focus for small businesses during their growing phase: About half of the owners will dedicate a significant amount of their time to expansion.
  • At the same time, the other half will probably maintain the company like before.
  • When you move from a small, personal team to a superior, more intricate enterprise, you’ll most likely seek experience beyond your environment for assistance, knowledge, and support.

Take notice, these trends will appear as you grow beyond your dreams:

  • The magnitude of management and personnel will increase, including the ability to implement efficient protocols for discovering, motivating, and keeping outstanding people.
  • Professional advice, such as accountants, financial planners, and lawyers, grows in value.
  • Pay close attention on the focus of management, with a rising interest in optimal innovation and productivity.
  • You’ll put greater significance in professional association memberships.

I really like the way small businesses grow into different phases, based on how many people they employ as well as focusing on priorities of the owner:

< 10 employees
The smallest business, mostly forming around the principal and run by a small, motivated staff.

> 10 but < 25 employees
As the business grows, a structure forms but it's mostly informal, cooperative and friendly.

> 25 but < 50 employees
The business forms a formal organizational structure but no departmentalization.

> 50 but < 100
Your business starts to resemble a proper corporation but lacks the appropriate resources.

These categories paint a picture to understand how you need to change your focus at different stages of expansion. It doesn't matter what type of industry you're in, a steady increase will take place throughout the entire spectrum of the company.

Have you experienced a new trend with your growing business? Please share your story below. [=