Lilit Davtyan is the CEO of phonexaan all-in-one marketing solution for calls, leads, clicks, email, SMS, accounting and more.
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As a company grows and expands its reach, companies must adapt by setting new goals that drive further expansion. But how will these new goals and initiatives affect your team going forward? What adjustments are needed to steer as a company towards new growth areas?
As CEO of Phonexa, I am responsible for leading our company into new growth areas. From my experience, there are two phases when brainstorming ways to grow a business.
The first is identifying new potential growth opportunities. The second is to adjust your company’s goals to grow your business effectively. The following are just a few suggestions to keep in mind when adjusting team goals as your business grows.
Make adjustments at all levels.
The first step is recognizing that multiple adjustments are needed. For example, in a small company, adjustments will have to be made per team.
Departments within smaller companies usually work with one person performing multiple roles. However, as the company grows, those roles must be separated between senior management, lower managers and team members.
This process can take some time as most team members who are used to wearing multiple hats have a hard time letting go of certain tasks and responsibilities. As a result, such team members should be trained in delegating in a way that they also train lower-level colleagues to avoid overlap. By doing this, prospective new hires can come in with specific positions as no one wants to come into a company with widespread job overlap due to undefined roles.
These adjustments need to be addressed at both the team and company levels to avoid growing pains and confusion among current and incoming team members. For example, team members who are promoted from a staff-level role to a management role often have a hard time taking on the new role, thinking it is easier for them to perform certain tasks than it is to train someone else to to do them. While I agree with the concept that it’s easier for someone to perform tasks they’re comfortable with based on experience, that mindset eventually becomes a complication because it’s unfair for new and co-workers not to learn how to perform certain tasks. perform or fulfill certain roles.
Collaborate, work cohesively, and recognize your team’s efforts.
In addition to delegation and job training, emphasis should be placed on collaboration. Each new goal consists of multiple functions, so by assigning different team members specific roles for that one goal, a cohesive team dynamic can be created.
For example, if the goal is to complete a project in a six-month period, divide that project into multiple parts where each team member has a specific task but must work together to complete the project. When the goal is achieved, it is the CEO’s responsibility to acknowledge every team member who was involved in completing the project. Even if a project was led by the CEO or another C-suite executive, credit for completing the project belongs to the team members who collaborated and contributed to achieving this goal.
Collaborative efforts are essential in driving a company to the next stage of growth. Work cohesively, recognize your team’s efforts and give credit where credit is due.
Keep day-to-day work to hand as new goals are identified.
As a business grows, its day-to-day operations must also grow. If a company is small and one person does all the marketing or accounting, that’s fine. But as the business grows and these tasks become more demanding, you must decide whether it is easier to outsource that task or hire more employees.
You should also consider whether you have the budget or enough work to justify hiring new employees because you don’t want to increase wages and overheads for no valid reason. While day-to-day tasks need adjusting, it’s a matter of deciding where to use your resources—internal or external—to streamline operations.
A final piece of advice for new CEOs who are guiding growth initiatives while maintaining or improving current output levels is to maintain the corporate culture as much as possible. When a new CEO moves into the role of an established company, the culture usually changes.
You have two choices for moving forward: you can change the company culture if you need to, or you can show your staff that you’re keeping the culture they’re already comfortable with.
Keep in mind that the culture will change in some ways, but you have the opportunity to improve or keep it if it is effective. A strong culture can positively impact your team and its operations while avoiding bottlenecks that can hinder your growth and expansion efforts.
By adjusting team goals as your business grows, you can maintain a productive team and drive business growth with minimal disruption.
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