As a business grows, it will encounter a range of challenges that can slow down or even prevent business expansion.

The key to managing these challenges is to ensure that you have a well defined growth plan, and to be alert and monitor the business closely for problems that may arise.

If a business anticipates and addresses the challenges before they become problems, growth will be  easier to manage.

The challenges come in many forms, such as:

• running out of office or storage space
• cashflow being negatively affected
• limits on the production capacity of a factory
• time available to key staff for dealing with strategic matters
• Extra pressure on staff because of increased work hours
• less time to spend with key accounts, impacting on relationships
• capacity of administration staff to handle increased volumes of enquiries, transactions and documentation.

Use scenario planning or risk management tools to identify the challenges well before they affect the business. Then take steps to remove or address them.

Staff are a good source of insights into growth challenges facing the business. They will also be a valuable source of ideas for solutions. Educating staff on the growth challenges facing the business and communicating with them regularly is the best way to keep them involved.