Businesses that grow very quickly almost always experience some aches and pains along the way. It sounds a tiny bit ungrateful to say it, doesn’t it? When the economy’s alarm bells are clanging the way they are currently, maybe firms that manage to succeed despite the odds should just count their blessings. But let’s be honest: When companies achieve 20, 30, or even 40 percent annual growth, they can have a tough time keeping up with the craziness.
If you’re in that enviable situation, congratulations. But as you try to maintain growth, you’re probably running into issues you never foresaw. May-be you’re finding it tricky to define your brand as your company hires more people and takes on a personality of its own. Maybe you’re feeling a little lost as you look at developing a strategic plan. How fast should you continue to grow? What’s your rationale? How much expansion is too much?
Luckily, you’re not alone in wondering. That might explain why so many small-business owners turn to books. Many growing businesses have universal worries, so why not read up on the experiences of those who have gone before?
Leah Herland, quality systems manager at St. Paul–based Restoration Professionals, a company specializing in restoration for fire, water, and other disaster damage, joined her company straight out of college. She says her job description has burgeoned along with her firm, and it has been both a thrill and a challenge to keep up. She was hired a few years ago into a then 17-person company; now she manages human resources and operations for a 60-person operation with two locations.
“Our company went through a ton of growth,” she says. “The CEO of our insurance brokerage recommended that we read the book Good to Great: Why Some Companies Make the Leap . . . and Others Don’t [by Jim Collins]. It examines 12 companies and shows what’s similar and different between them. It helps us as a guide, to show us what we should focus on, but it also helps us see that the world is not falling apart, even though it might sometimes seem like it. Sometimes, as a small business, you tend to think every single problem is exclusive to you. When you realize it’s a common business problem, it makes it a lot easier, psychologically, to deal with.”
At Salo, LLC, a $42 million Minneapolis-based financial staffing firm, the hot book is The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It, by Michael E. Gerber. “It’s a fantastic book, especially for small businesses,” says cofounder John Folkestad. “It goes through a lot of stories and analogies. The book basically says that to really evolve, to continue to grow a business—almost regardless of stage but especially at the beginning—you have to evolve from working in the business to working on the business.”
