When unanticipated business growth happens, how do you handle it?
Growing a business can be one of your biggest challenges, but what happens when you are faced with the unique situation of having your business grow at a faster rate than you initially anticipated? I recently had to answer this question when my company quickly outgrew the flagship location I purchased in 2010 when our focus shifted from being predominately retail and local pharmacy services to a specialty pharmacy company mailing medications to patients across the state of Florida. The needs of the two business models are quite different, which led me to purchase a second location in 2015 that now houses two of our four specialty pharmacy areas.
Both my team and I had to go through a major shift as we changed our business model from growing via brick-and-mortar locations to becoming the top mail-order specialty pharmacy in the state. We have had to be flexible, ensure that the right resources are in place to continue to be the best in our business, and have the right people in place to help move us towards this new vision.
It is easy to anticipate growth, but the speed and volume of this growth is only determined once you have been in business for some time.
Here are a few things to keep in mind if your company grows in a way that you did not originally anticipate:
Click HERE to read tips from Armando.