5 Ways to Successfully Expand Your Business
In recent years, QuickDraw Fund Control has expanded from one market into five. We have seen 500% growth from our earliest days of operation and continue to experience double-digit growth year over year. So how did we do it? Much of this growth is contributed to a service-oriented approach to borrowers.
Fund control is a pretty straightforward business, but great companies really succeed based on the service they provide. When lenders and borrowers are unhappy with their providers, they look for other, better options. QuickDraw’s reputation for quality service, paired with the uptick in construction and a healthier market, has led to our expansion. To grow well, we must adhere to a very important principle: growth must be managed properly.
There are several ways to expand a business, but QuickDraw Fund Control found the following steps to be the most beneficial for our expansion.
1. Have a game plan. The game plan, or vision, serves as a road map of sorts. If business owners fail to create a vision for their company, they will never have a map to follow. If things take a detour, there will be no way to get back on track again because, well, there was never a “track” in the first place. We suggest writing your vision down and revisiting it often.
2. Don’t let work get in the way of innovation. At QuickDraw Fund Control, we’re running a small business. We know how much work goes into the day-to-day operations, but we don’t let that stop us from dreaming and planning for the future. Set aside a block of time each week to brainstorm ways to make your company more relevant to its customers.
3. Be transparent. Fast growth can take a toll on the resources of a small company. Be honest with customers about your capabilities. At QuickDraw, this means being upfront with the borrower about what we are able to take on. We ensure we have the capacity as a firm to deliver excellence before making promises.
4. Listen to your customers. Whether the things they’re saying are positive or negative, they will provide insight that only an outsider can. Take their comments and concerns into consideration and maybe make some changes. If customers are happy, business thrives.
5. Build relationships with great people. At QuickDraw, we partner with the finest subcontractors. As we grow, the circle of professionals we work with must grow, too. In every market, on every project, we ensure professional and quality service by everyone we choose to work with.
QuickDraw Fund Control was founded in 2012 and expanded rapidly. Why? Because we have a vision, we set aside time to be creative, we focus on great service, we listen to our customers and remain transparent with them, and we only work with people who exude high standards in their work. We’re not saying it’ll be easy, but with some planning and preparation, we think that anybody can have a successful business.