To Grow or Not to Grow - Part II
Updated: Jan 9, 2019
As a follow-up from my August newsletter, I found myself evaluating whether or not to grow my business. As I celebrate 10 years in business this month, my business has grown to a point where I was maxed at my capacity to service my clients. And as many business owners experience, my work/life balance had become unbalanced, and I didn’t see that changing unless I made a change.
Although this was a decision that required a lot of thought and consideration, it quickly became clear to me that growth was the only option. Luckily, the decision was made a little easier because the business growth opportunities are there; I wasn’t just looking to grow my business for the sake of growth. Because of the relationships I have built with my clients, and the success I’ve had helping their organizations, I continue to obtain many referrals (Thank you!). I have also partnered with several businesses that provide areas of expertise outside my own, and can better serve the particular needs of my clients. These relationships benefit my clients and reinforce the integrity I insist upon in my client relationships. My job is to provide my clients the best service I can, regardless if I’m the provider of that service.
As with any company evaluating growing, here are some key considerations:
Doing anything too quickly can often cause oversite and failure. Yes, growth sounds great, but it should include thorough review and analysis to affirm the growth is expected to be sustained long-term.
Consider resources to help in the analysis. Talking with those in my network and discussing the imbalance I was having between work and home with my family, was critical in the decision process.
What is the cause for the growth? How long is the growth expected to last?
What is the expected ROI?
What additional resources are required (time, financial investment) now and long-term?
What new opportunities will be created?
Once the decision was made, everything moved quickly from there. I added to the business by hiring Jackie Bartanen, CPA, MBA. After my August newsletter, when I was evaluating growth, I posted the ad and hired her within 2 weeks. She has just completed her first month at Journey Consulting. Jackie is already adding value supporting some of my existing clients in areas I did not have time to, as well as growing the business with several new clients.
During the past 10 years, I have worked with over 50 companies helping them on their journey. Today our services include corporate turnarounds, growth and acquisition, strategic and business planning, succession and transition planning, organization alignment, executive, management and team coaching, and interim CEO/CFO.
On Thursday, October 12 th , Journey Consulting celebrated its 10 th Anniversary with many clients, business partners, and referral sources in attendance. This marked a milestone of business success, and kicked off the growth and future of Journey Consulting. I feel very fortunate to have Jackie part of our team and know that with the added capacity we will continue to serve our clients with the integrity, quality, and results that you’ve come to expect.
I just want to take the opportunity to once again thank all my clients, network and business partners for an amazing 10 years! We look forward to the next 10!
Jayne McQuillan, CPA, MBA, CEPA is a strategic management consultant, and the owner of Journey Consulting, LLC, in Green Bay