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The Benefits of Building Executive Teams Early

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Many entrepreneurs define a successful venture by the moment they’re able to finally take their hand from the business’s tiller. But if the coming months and years are going to be smooth sailing, the quality of the management put in place must be faultless.

Online accounting firm Crunch Accounting has finished an operational review following its recent expansion. “It’s pretty typical in fast-growing businesses that functionality gets duplicated and departments overlap as things grow organically,” says the company’s CEO, Darren Fell.

The result is a convoluted and inefficient mess that will inevitably put the brakes on any continued coherent growth. Crunch’s review, by a third-party consultant, revealed a number of overlaps of skills, says Mr Fell, and the business is currently rewriting all of its jobs to fit in with the new structure.

Mr Fell says this has already led to improvements. “I think we knew it beforehand, but this has really shown us that clearly defining the functions of each department makes us a much leaner, more efficient business,” he says. Leona Barr-Jones, HR expert and operations director at business growth consultancy Focus7 International, says almost all small businesses could improve their managerial set-up, from the board downwards.

SOURCE: telegraph.co.uk