Good to Great: How to Scale With an Outsourced CFO

You’ve got your business plan, you’ve hired good workers, your business is humming along, and you’re utterly swamped in the day-to-day operations. But how do you know if your company is thriving? Are there signs to look for that will tell you that your business is on the road to riches?

There are. While not all of these signs are clear cut or quantifiable, they will help you to know if you’re heading in the right direction.

 

A Product-Market Fit

The first step to business success is finding your clearly defined market. You should be able to pinpoint exactly who your customers are and how you are helping them. And they need to recognise that you are in fact helping them.

If you are satisfying the needs of your initial customers and developing relationships with them, you are on the road to riches.

 

Adherence to Your Objectives

As part of your business plan, you probably created a transparent set of values and objectives for your organisation. These values and objectives help everyone in the company to understand their roles and their work, and this translates into a healthy, functioning business.

It can take a little while to see if your values and objectives are being adhered to by your employees and managers, but it won’t take too long. You’ll know it’s working when your employees point to your mission statement as the reason for why they do what they do. This is very healthy, and it will lead you to success.

 

Happy Employees

Here’s a sign that you’re doing something right: your employees enjoy showing up at work every day. Happy employees lead to happy customers, and happy customers lead to a healthy bottom line.

How do you know if your employees are satisfied with their jobs? Watch how they work together. Is there a spirit of cooperation and teamwork? Do they seem committed to the company? Do they trust each other? There will always be conflicts in the workplace, but are those conflicts resolved amicably and quickly?

 

 

The Ability to Scale

Although you have control over many factors affecting your business (your relationships with vendors, hiring, your business plan), you don’t have control over the economy as a whole, legislation affecting your industry, and government regulations.

But you can safeguard your company’s success by honing your ability to scale. If you can expand when opportunity knocks and cut back during hard times, you will find that you’re on the road to riches.

 

Industry Expert Status

When people are looking for what you have to offer, do they think of you? If so, your business is thriving. In today’s world, business owners can gain expert status by crafting a well-branded online presence, particularly on social media.

How many of these signs have you seen in your business? Are your employees happy to be there and working as a team? Have you found your clearly defined market and figured out how to serve them well? Do the members of your organisation adhere to your chosen values and objectives? If so, enjoy your journey on the road to riches.