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Fundamental #1 to successfully scale up your business
Growing your business presents amazing opportunities, but also increases risk. Defining a clear organisation structure is fundamental to scaling successfully. We can help you with your Organisation Structure and Chart.
Growth brings increased opportunity, but at the same time, increases risk. Poorly managed risk can cause failure, even if the business is growing.
So, how do we plan for success in a fast-growing business?
There are three fundamentals to successfully scale up your business: having a clear organisation structure, having comprehensive systems and processes - both of which must be clearly documented - and finally, developing great leadership skils.
Fundamental #1: your organisation structure
1.A clear organisation structure allows a business to successfully scale.
It will enable you to increase your revenue without creating bottlenecks and overloading your team. Your bottom line should increase at a greater rate than your revenue, as your business becomes more efficient and achieves economies of scale.
2. Every business has 10 departments.
Your organisation structure depicts the 10 departments in your business, the responsibilities of each position, and how the hierarchy works. Each department should have only one leader. The leader, whilst holding the responsibility for the department, does not necessarily perform the tasks.
3. As you scale up your business, ensure you develop your key team members.
Every role should have a clear job description identifying a maximum of 10 key responsibilities, with clear tasks and KPIs identified for each responsibility.
Empowering the capable members in your team to learn how to lead a department will engage them to support you in your quest to scale. Delegating the leadership of some departments will also free up your capacity to work on higher level activities.
4. Review your organisation structure regularly, updating key responsibilities as they evolve.
Ensure the work your team is doing aligns with your structure. Ask your team if their roles have changed at their performance review and update their job descriptions and the organisation structure accordingly.
By ensuring you have the correct organisation structure, you’ll be able to gain more control and spend more time enjoying your hobbies while growing your business.
“Incredible things in the business world are never made by a single person, but by a team.” - Steve Jobs
We can help you define your Organisation Structure. Get in touch!
Chris is the founding Director of Lynch & Associates Limited.
He qualified as a CA in 1973 and is a full member of the College of NZICA now merged with CAANZ. His expertise is in the areas of tax, accounting, business development, forecasting, and auditing. He has a clear focus on adding value to his clients lives and businesses and seeing the people behind the numbers.
Chris experience includes working as a CFO and company secretary for some of New Zealand’s leading companies before starting his own CA firm in 1999. In his previous roles Chris has worked in the wool, dairy, engineering FCG, banking and investment banking and stock broking industries.
Today he uses this vast experience to assist his clients add value to their businesses and personal lives.
Chris Lynch, CA
Managing Director, Lynch & Associates Limited
Get in touch by Email or Phone: +64 9 366 6008