5 Pillars for Fastest Growing Companies

You have started a business. You had a good idea, a good vision, you probably wanted to do it differently and above all better. How cool is it that your company is growing!
And at the same time you find out that a growing company requires a different approach. When I work with entrepreneurs from fastest growing companies, it is important to have a number of crucial pillars. I hereby give you an overview: 5 pillars for fastest growing companies.

1st: Finding top talent

As the company grows, hiring the right people becomes even more crucial. I often see that people are hired too quickly. Or that the existing team will be faced with more and more work with all the consequences that entails. Time to work on a well-founded recruiting plan becomes very important. When selecting the right candidates, not only job, knowledge and experience must be considered, but also behavior and motivation. And above all: how does this fit into the existing culture or the desired culture. Of course, not all employees need to be permanently employed during this phase. You can also create a flexible shell of independent business partners (physical or virtual). But also make sure that you select carefully.

Also Read: How to create a brand identity for your Startup Business?

2nd: Retaining top talent

If you have found good employees, it is of course also necessary that you know how to keep them. That may sound like kicking in an open door, but nothing could be further from the truth. In everyday life, employees often do not receive the attention they need. And they may feel lost or insufficiently involved in the development of the company. And this has nothing to do with seniority; Feeling that you belong and that you are listened to is a basic need Maintaining your corporate culture during the rapid growth of the organization requires careful preparation and training for the
Staff members. And above all, employees find it important to have clarity about the objectives, the structure, the performance criteria, etc. How do you do this? Think of: a manual for employees, an ‘onboarding program’, appoint a buddy, offer training and coaching.

3rd: Clear communication

When a company is still small, everyone often talks to each other. And everyone is aware of what is going on and what needs to be done. And that usually becomes more difficult with (rapid) growth. It takes time to think structurally about the manner of communication. When is what communicated and how? And this requires strong leadership. We developed structural communication moments with employees with many management teams. Not all employees will then receive information about progress and changes, but this is also the time to listen to what concerns the employees and to answer questions. That way the management also knows what is going on.

4th: Cash flow management

One of the biggest challenges for fastest growing companies is cash flow. Rapid business growth often puts the cash position under pressure. That is why it is very important from the start to make forecasts based on current and expected growth and to have a clear insight into the cash flow. Is there a good cash flow analysis? Is invoicing accurate and in order? Credit management? Is expenditure being looked at critically? Do the costs contribute to (the growth of) your company or to the ego? Cash flow management is one of the most important pillars. And if you do not (or cannot) do that yourself, it is pre-eminently a role for your (internal or external) financial man or woman. In this way you know in time what the challenges are or could be, because you are better able to anticipate.

5th: Walk the walk

We all know it: so busy managing your company, keeping all the balls in the air, keeping the balance in the family. You can have it arranged very well, but …… if you do not set an example and propagate it, you can never expect your employees to work according to the rules. Walk the talk: Do what you say and say what you do. And do you find that difficult as an entrepreneur? Then let yourself be coached on it! Find someone who can help you with that.

Read Also: Growing with your business: 10 challenges you will definitely face