Taking on the Challenge of Expanding Your Successful Business

Taking on the Challenge of Expanding Your Successful Business

by -
Women now own and run almost  13 million businesses in the US. As well as becoming successful sole proprietors, many have grown their business and are now also responsible for supporting over 9 million jobs. Ohio features in the top ten of best states for women to  set up a successful business, and it is becoming easier to create a startup or launch a new enterprise. However, as your company prospers, you will be looking beyond simply sustaining the initial success and will, in addition, be thinking about taking on new staff and moving to larger premises. This can take time and effort but the rewards are well worth it. 
 
 
 
Investing in Employees
 
As your business becomes more successful, there will come a time when you need to start sharing the workload.  Taking on staff is a major responsibility, and it is estimated that hiring an employee can require up to £4,000 in recruitment and training costs. Of course, by taking the time to properly prepare and integrate suitable new staff to your business, these costs will be recovered through increased revenue. Another added responsibility that must not be overlooked is  workers comp insurance. As well as giving you and your employees peace of mind, like any business insurance, this could save you money in the long run.
 
 
 
Making Room for Success
 
Finding premises for your expanding business can be daunting. If you’ve been working alone at home and don’t feel that you are ready to take on the responsibility of your own office, start by  sharing a co-working space where you can network, meet potential new employees, and continue to grow your business until you are ready to move. The eventual location of your new premises will depend not only on your budget but the nature of your business. A  prominent and credible address with parking nearby is preferable if you expect clients to visit you at your office. If the premises are just for the use of your employees, you will still need to ensure that the location is convenient and safe for them, and will not be off putting for potential new recruits in the future. 
 
 
 
After the initial excitement of setting up a successful new business, ensuring that it is not only sustainable but ready for expansion takes time and effort. However by being prepared to take on extra responsibilities and invest in well-trained staff and premises suited to your needs, you will soon reap the rewards of a flourishing business. 
Amy Scalia
Publisher & CEO - Amy Scalia, a Cincinnati native, is the editor in chief and publisher of Cincy Chic. Send her an e-mail at ascalia@cincychic.com. From growing up in the cornfields of Harrison and getting a Mass Communications B.A. degree in the bubble of Oxford, to living on the NKY side of the river in Newport and then Ft. Thomas, Amy Scalia has embraced Cincinnati with her presence. Her major life accomplishments include: being a mom of two girls and a boy, a 2010 "40 Under 40" recipient from the Cincinnati Business Courier, winning the "Best New Product/Service of the Year" Award from the Cincinnati Chamber of Commerce and a national Web-writing award from ASHPE in 2007, a national feature writing award from ASBPE in 2006, and running three Flying Pig Marathons.

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