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Growing a small business is exciting, but it comes with challenges—especially when it comes to keeping your team aligned and maintaining your company’s culture.
The Institute of Chartered Accountants in England and Wales (ICAEW) recently published an insight article on Five Leadership Lessons for a Growth Mindset.
The article features advice from Rachel Nutt, a senior partner at MHA, on some of the leadership lessons she has learned from the growth that has taken place in her own business.
While MHA is now a £200m business, the key lessons discussed are useful to businesses of all sizes. Here are some key lessons for business owners looking to scale without losing what makes their business special.
Live Your Business Values
Many businesses define their core values, but as they grow, those values can get lost. New hires bring different experiences, and over time, people may start working in ways that don’t quite match your original vision.
To keep the business on track, you need to ensure that values are more than just words – they should guide decision-making at every level.
For example, if a high-performing employee is good at bringing in sales but doesn’t collaborate well with the team, it’s important to address that. Focusing only on financial success can weaken company culture. Instead, you should look to reward employees who not only achieve results but also contribute positively to the work environment.
Make Big Goals Feel Achievable
Having ambitious targets is important, but if they feel too far out of reach, they can discourage rather than motivate. Breaking big goals into smaller, clear steps makes it easier for your employees to see progress and stay engaged.
For example, rather than announcing a long-term revenue target that seems unrealistic, you could highlight past successes and show how each milestone brings the business closer to the larger goal. This approach helps employees stay motivated and invested in the growth of the business.
Create a Culture Where Mistakes Are Learning Opportunities
Fear of failure can hold a business back. When employees are afraid to take risks, innovation slows down. When leaders in the business acknowledge their own mistakes and treat failures as learning experiences this sets the tone for a more adaptable and resilient business.
Encouraging employees to take calculated risks—and supporting them even when things don’t go as planned—helps build a culture of problem-solving and creativity. When employees feel safe to try new things, your business is more likely to develop innovative solutions and stay competitive.
Recognise When It’s Time to Let Go
Not everyone will be the right fit for a growing business. Some employees will thrive with change, while others may struggle. It’s important to recognise when someone is no longer aligned with the direction of your business.
Difficult conversations about performance and expectations are necessary to maintain a strong team. While it’s never easy to part ways with an employee, keeping someone in a role that no longer suits them can create long-term problems for both the individual and your business. If you can make these decisions with fairness and clarity it will help ensure that your teams remain strong and focused.
Lead with Authenticity
Successful leaders don’t try to fit into a mould—they bring their own strengths and personalities into their leadership style. Employees respond best to leaders who are genuine, approachable, and clear about their vision.
Rather than focusing on what a leader “should” look like, you should embrace your own approach and encourage a workplace culture that values individuality. A diverse and inclusive leadership style can strengthen a business by bringing different perspectives and ideas into decision-making.
Final Thoughts
As your business grows, maintaining a strong culture and clear leadership approach becomes even more important. By reinforcing company values, setting realistic goals, creating a supportive environment for learning, making tough but necessary staffing decisions, and leading with authenticity, you can navigate growth successfully while keeping your team engaged and motivated.
As experienced business advisers we have helped many of our clients successfully grow their business. Why not ask us for our “57 Ways to Grow Your Business” guide designed to help you maintain profitability and strengthen your position in the market.
