Making the transition to a large enterprise can be exciting. It means that your business has continued and sustained growth to the point that you need to expand operations.
However, it can also be a stressful time, your stakeholders and your employees will be in a state of flux and will be relying on your guidance and leadership at this critical juncture. To make things easier we have come up with some top tips on how to transition your SME into a large enterprise business.
What is involved in making the transition to a large enterprise?
This is a difficult question to answer as it is different for every company, depending on pace of growth and the underlying business functions. Discussions on the future structure of the business often occur once your employee numbers reach the 250+ mark, but there may be other indicators, such as a large growth spurt within the business or consistently overachieving the targets set. What it comes down to is, only you and your leadership will know when the time is right to implement change.
Engaging your positive mindset
This may seem obvious, but as a leader or manager you need to lead by example and if your positive mindset isn’t engaged for the coming change, then your teams will struggle. We’ve previously discussed what makes a good leader, great and this is a vital time to make sure you make use of all these skills.
Reassure your team that the change will lead to opportunities and promote a supportive environment to guide them through the transition.
Communicate changes before they occur
One of the most important things to consider during your transition to a large enterprise is your team. Change can be a daunting time for some, so make sure you speak to your employees to ensure they are prepared. This will give them a chance to discuss any concerns and will allow you to put any extra measures in place for them.
Make sure you have the right team in place
With growth comes more opportunity to grow within the business. If you haven’t already, now is the perfect time to put structure around your employees growth using a performance plan. This is a simple way of monitoring their progress, identifying potential training opportunities as well as identifying talented employees to promote. Ensuring you have the right team in place will make for a smooth transition.
Reassess your company mission and vision
By the time that your company transitions into a large enterprise, it is likely that your original vision and mission statement has evolved. Make sure you review these with your directors and senior leadership team to create a strong, well-thought-out vision of where you want to be and how you can achieve it as a large enterprise.
How can OnTrack help you transition to a large enterprise?
We understand how stressful a big transition can be, which is why we have created some great off-the-shelf training solutions to help you and your employees. Our OnTrack OnDemand programmes are ideal for filling in the training gaps as well as developing you and your employees. From leading through change to managing stress we have a range of solutions to help your business through this transition to large enterprise.
Contact us today to find out more about how we can support through your transition to a large enterprise.
