Wed, 18 February 2015
How a Young Entrepreneur Handles Rapid Growth with Genevieve George
We all have heard about young entrepreneurs who hit the big time due to their fast-growing businesses. To name just a few … Mark Zuckerberg/Facebook, Andrew Mason/Groupon, and Matthew Mullenweg/WordPress. Such instances have changed the dynamics of the workforce. It is no longer about finding a career, but thinking about what you want to get out of your life, not just your career.
* Press play above to listen to this weeks Podcast *
Is there something you need, but there are no resources? That is a great opportunity to start a business. It’s not easy, but get out there and give it a go! Try new things. You only live once… That’s exactly what 23-year-old Genevieve George did! In 2012, she started OneShift, an online jobs network company that matches employees with employers. Now, she has more than 40 employees, and her company has won several awards. What does someone go through when growing a business? What are the “ins and outs”? What are the risks? There are four main aspects regarding business growth:
** Employees: As you grow your business, you will need more people. You will need to have training, job descriptions, advertisements, and other items in place. A lot goes into hiring people!
** Money: New business owners will burn through money to pay for equipment, offices, employees, and other items.
** Plan: Make sure to have a business plan in place. Identify your company’s goals, predict what may happen in the future, pay attention to trends, determine a budget, etc. Then, make sure to regularly review your business plan.
** Profits: As you grow your company, keep an eye on your profits. You can use your profits to pay for expenses (which will increase). Of course, make sure your company is making profits!
In this episode of Business Brain Food you will learn:
** Challenges arise during fast business growth
** The importance of hiring and retaining employees
** Costs and expenses are necessary to grow a business
** How to plan for your company’s future
** Why to keep track of profits
** About surrounding yourself with mentors
** How to review performance and feedback
** How to use public relations and social media
Resources mentioned in this episode:
Are you thinking about starting a business?
Use the tips and advice provided in this podcast to get going! Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day! Cheers, Ben Fewtrell
Direct download: BBF0041_How_a_Young_Entrepreneur_Handles_Rapid_Growth_with_Genevieve_George_OneShift.mp3
Category:general -- posted at: 12:00pm AEST