Starting a business is the easy part. Running and growing it is where the real work takes place.

Long after the euphoria of opening your doors to the public wears off, entrepreneurs get hit with a sobering dose of reality. No matter how great the product or service, no matter how enthusiastic you are, this business has to run on a day-to-day basis. Many times entrepreneurs neglect to plan forward for growth. It’s understandable because all that matters is operating in the now. Getting clients, making sales, paying the bills are all top priority even if it comes at the cost of healthy operations or a stable team.

If you want to scale your business for healthy growth you have to invest in it. That investment must come in the form of time, money, and people. Here are five things you can do to focus on growing your business the right way.

Write out a proper set of plans. Yes, I said plans..plural. Your plans are roadmaps for your business. True, they don’t have to remain constant for the life of your business, but you do need something in place to keep you on track and to give you guidance for when things change. While I didn’t initially write a business plan for my businesses, I had a roadmap of them sketched out in a few notebooks. Once I was ready, I had all my basic data and just filled in the blanks. You must understand what your operating plan looks like. How your business runs day to day and the varying levels of responsibility are crucial. How your business run, service its clients, make money and turn a profit should be addressed. A marketing plan is a no-brainer. Everyone should have one to show how you will position and brand your company. But before all else, make sure you understand your business and revenue models. Those are the foundations to your business plan. And lastly, everyone needs a risk management/contingency plan for “just in case“. What happens if there’s a natural (or man-made) disaster? Who’s in charge should you (the owner) fall ill? What happens when key staff are on vacation with no access to email or phone?

Hire the right talent. A lot of small businesses cringe at the thought of hiring people. It’s an added expense that they really can’t afford right now. They can get by doing the work themselves or asking current staff members to pick up the slack, right? WRONG. First of all, as a CEO or owner of your company, you should be focusing on the things you need to do like tasks that directly affect your bottom line. In the beginning it may be ok to wear all hats, but as you grow, you have to step back and delegate. Another potential for failure is taking short cuts and hiring on the cheap. You get what you pay for! By refusing to hire great talent you put undue burden on your team and yourself. Resentment kicks in, morale slips and then you find yourself with a team that’s ready to jump ship. It’s like that old saying “buy a few classic, quality pieces for your wardrobe and they’ll last a lifetime“. The same applies with hiring people. Great people produce great results. So bite the bullet and hire the people who can make your company excellent. The return on investment is priceless. But hire on the cheap and your business could suffer for it. It’ll cost you more to restart the hiring process and train new people in the end than making sound hiring decisions from jump street.

Get back in the lab. Successful businesses are always looking for ways to improve their product or service. The world changes fast and people’s likes and dislikes change even faster. It’s important to stay on top of trends and consumer feedback, and how it related to your business. Ask customers for feedback and suggestions. They are the end users of your service or product. Figure out what tweaks will make it easier or more desirable for them to continue buying from you. Don’t be afraid to take time out each month for brainstorming sessions with your staff members. They are just as much part of your company as you are. Ask them for feedback and suggestions on products or services. You can also ask about process improvement suggestions. From the mail clerk to the VP, everyone in your business should feel invested. By allowing them input you give that to them. Also try diversifying. Even Nike wasn’t content with just a sneaker. Figure out what complimentary (or even brand new) products or services would appeal to your clients. Then get to work on making it happen.

Reinvest your profits. Even if your business is breaking a million dollars, you still have to continue investing in your business to keep taking it in the right direction. Some business owners feel that when they hit a certain monetary milestone, they can sit back in cruise control mode and watch the dollars roll in. NOT.  Being profitable doesn’t give you Carte Blanche to spend like a drunken sailor. Sure, you can splurge here and there, as long as it’s responsible. For the most part, you should be reinvesting that money back into your business to make your products better, enhance customer service, and build a solid brand that customers can rely on. Reinvestment can also come in the form of training and education for your staff. If you want to keep them around a while, offer to give them key training that would not just be beneficial for them, but would allow them to use those skills and knowledge to help grow your business. Two birds, one stone.

Get proper counsel. Everyone knows you need an attorney, tax advisor, bank officer and accountant as part of your “team“. But there are other people you need just as much. A (reliable) business coach is one. When you’re serious about growing a business, you have to know how to RUN a business, not just make it sexy. A business coach who has proven results in their own business and that of their clients will have no problem helping you create a strategy to help you grow. Make sure they understand business growth. They should have no problem telling you the ugly truth about your business. They’re not there to handhold, they’re there to help you grow. Next, make sure you’ve formed an advisory board. This is a team of people more successful than you are who advise you and share their expertise to help grow your business. They are your sounding board and help you keep your business on course. It shouldn’t be made up of yes men or women. They should be able to challenge you without usurping your authority, and make you think and explore other points of view.

Til next time,

Adrienne Graham
Watch me grow 

Do you like this article and want to reprint or share? You can, as long as you include this in its entirety:

Adrienne Graham is the Founder & CEO of Empower Me! Corporation (www.empowerme.org). She is a strategist that helps people grow their career, business or network in any economy. She is the voice behind Views from the Top Radio Show, and the creative visionary behind Empower Me! Institute and Empower Me! Magazine. Her writing and shows focus on Career Management, Networking Strategies, Entrepreneurial Success and Small Business Management. You can also find her causing a ruckus on Forbes.com.