Good to Great: How to Scale With an Outsourced CFO

With business growth comes great responsibility, and also great excitement. But the buzz in the air, also adds an element of pressure.

Your approach to the evolution of your business is what will make or break you. This is why it’s important to manage transitions seamlessly.

Possibly one of the most challenging aspects to managing growth is meeting the expectations of your clients. On any given day this comes with obstacles and surprises, but in times of pressure it can get a little tricky.

Here are a few simple ways to ensure you’re managing client expectations in a way that supports your business growth.

 

Know Your Client Expectations

To be able to manage your client’s expectations, you first and foremost need to understand what they are. It’s important you sit down with your client and determine what it is they want from your service.

Clients don’t always articulate what they want, so it’s your responsibility to ask all the right questions.

They may also have implicit expectations, which will be more difficult for you to decipher. These can hinge on industry standards and benchmarks, organisational culture and standards, your business’ reputation and what you’ve already promised.

Which is why during growth periods you must put yourself in the client’s shoes, and understand what you would expect, want and need in the same situation. A few core expectations may include respect, communication, honesty, feedback, empathy, and follow-through.

Remember, when things get busy and time seems to escape you, don’t forget about the human experience of business.

Your service isn’t just the product you provide, but the human and personalised engagement between you and your clients.

  

Set Boundaries

Ensure there are clear boundaries in place within the business relationship. You shouldn’t need to field unwanted phone calls as you’re putting on your pyjamas at night.

Keeping communication to business hours may seem obvious, but you’d be surprised how easily boundaries can become blurred. Be wary of setting a precedent, and always be clear on what you’ll do for your client and when.

 

Define Deadlines, Strategies and Timelines

During your growth periods, you’ll need to be direct with setting deadlines, implementing strategies and deciding on timelines for each project. If clients have a longstanding relationship with you, scheduling a meeting to revisit proposed timelines is an honest and straightforward approach. They’ll appreciate the transparency.

With new clients, consider the current challenges your business is facing and set deadlines in ways that support your company during this time.

 

Don’t Promise What You Can’t Deliver

If you know that managing the growing pains of your business will be your main focus, don’t promise your clients what you can’t deliver. If anything, under-promise and over deliver.

Too often business owners are concerned about losing business or turning it away, however in times of growth it’s important to be honest with your bandwidth. 

Consider committing to smaller projects that you can comfortably deliver on time. Don’t let ego stand in the way and cloud your strategic decision making. Ultimately, during periods of growth being business-savvy is critical. 

  

Don’t Skimp on Quality - Value Your Clients

Don’t allow the quality of your work to slide during growth periods. In the eyes of your client, this indicates an inability to successfully manage high-pressure periods.

While any period of significant growth will be challenging, it’s important to value the people who are already working with you. After all, these are the people who have invested in your business, and believe in it.