Explosive growth is something many business owners dream about. Having a product gain immense popularity or seeing it go viral online means a higher profit margin and more potentially dedicated customers.
However, it can take time for a business to adjust to rapid growth and leaders need to be prepared for anything, from knowing which team members will be able to keep up to having the proper procedures in place in advance. Below, 15 Forbes Business Council members share top concerns business leaders may have about managing rapid growth and how to address them.
Members of Forbes Business Council share top concerns leaders must address as they navigate business growth.
PHOTOS COURTESY OF THE INDIVIDUAL MEMBERS.
1. Keeping Early-Stage Employees
Surprisingly, some team members who worked so hard to get your company to explosive growth don’t relish it when it comes. Sensitive communication, training, up-leveling and the resetting of expectations can help. But be prepared for the disagreeable process of replacing early-stage employees with those who are more comfortable with, and qualified for, your new scale. – Desmond Wheatley, Beam Global
About Beam Global
Beam Global is a CleanTech leader that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.
The company develops, patents, designs, engineers and manufactures unique and advanced renewably energized products that save customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly Envision Solar, EVSI, EVSIW). For more information visit https://beamforall.com/, LinkedIn, YouTube and Twitter.
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