Balancing a Hyper-Growth Business
Managing a business that is experiencing massive growth is an exceptional challenge. Fulfilling operational requirements that are both dynamic and expansive, requires balancing three primary areas: resource allocation, maintaining a flexible roadmap, and developing an effective team.
The financial needs of an expanding company are numerous. Expenditure requirements include hiring new employees, marketing campaigns, and training programs in addition to amplified operating costs associated with increased business volume. Tradeoffs between short-term investments in headcount versus long-term investments in automation or outsourcing must be evaluated.
The CFO must continuously evaluate priorities and make necessary adjustments to propel the company forward while maintaining financial stability.
Maintaining a flexible roadmap
It is necessary to maintain a flexible technology roadmap for each of the critical functions within the business (e.g., sales, marketing, customer support). Flexibility of development does not correspond to lack of clarity or direction. Consistent collaboration and adjustment to changing customer and market conditions helps keep the team pointed, and all business leaders informed.
Developing an effective team
Hyper-growth requires building a team that can handle increased responsibilities. Transformative change is chaotic. Acquiring talent that is receptive to ambiguity, innovative, and possesses the capacity to evolve is essential. Candidates need to be selected carefully to ensure compatibility. Maintaining balance requires a comprehensive assessment of each of these areas while keeping the long-term goals in sight. The CFO must continuously evaluate priorities and make necessary adjustments to propel the company forward while maintaining financial stability.