7 Growth-Killers For NDIS Businesses (& How To Fix Them)
Growing an NDIS business is exciting but has its challenges. Let’s explore seven mistakes new business owners often make in the first six months and how you can avoid them to set yourself up for success. Keep reading for a bonus tip.
Mistake 1: Lack Of Patience
Building a strong foundation takes time. Many expect their business to succeed right away, but the first year is all about laying the groundwork. You need to support yourself for 12 months while gaining participants.
Any profit should go back into the business to help it grow. Patience is key—success takes time.
- Set realistic expectations for the first year.
- Understand that growth takes time and effort.
- Focus on building a strong foundation before seeking profits.
Mistake 2: Growing Without Getting Advice
Trying to grow without guidance can lead to costly mistakes. You haven’t walked this path before, but others have.
Find someone with experience who can offer advice and help you avoid common pitfalls. Good advice is always worth the investment.
- Find an experienced mentor who understands NDIS growth.
- Seek professional advice before making key decisions.
- Avoid costly errors by learning from others’ experiences.
Remember, the most expensive advice is the advice that you didn’t get.
Mistake 3: Underestimating Growth Costs
Growth costs money, and you need to be ready to spend it. Whether it’s marketing, hiring staff, or setting up systems, growth needs investment.
Marketing done well can bring great returns, but you need to spend money to make money. Budget wisely and be prepared to invest in growth.
- Budget for marketing, hiring, and system upgrades.
- Be ready to invest money to see growth.
- Plan carefully to make sure expenses don’t exceed profits.
You need to spend money to make money, but you need to have money before you can spend it. Make sure you start with enough resources to cover all your expenses. Assume it will take longer than you’d like before you have revenue from plenty of participants.
Mistake 4: Staffing Issues
As your business grows, so do your staffing needs. Staff have personal needs, get sick, and need time to learn. Managing a growing team takes patience.
Have systems in place to handle staff and their issues, and remember—investing in your team is investing in your success.
- Have systems in place for managing staff needs.
- Be patient with staff learning and development.
- Invest in training to help your team succeed.
Mistake 5: Lack Of Systems For Growth
When you’re the only person running the business, things are simple. But as you grow, systems become important. Systems for communication, invoicing, and managing expectations are so important.
Building systems from scratch is hard, so consider using systems that already work. Good systems are key to smooth growth.
- Implement systems for communication, invoicing, and management.
- Use proven systems instead of building everything from scratch.
- Keep your operations organised to handle growth smoothly.
Mistake 6: Ignoring Your Reputation (Think 1-Star Reviews)
Reputation matters. As your business grows, you may find it harder to spend enough time with each participant. This can lead to 1-star experiences and harm your reputation.
Balance growth with maintaining a great experience for each of your clients. A few bad reviews can make future growth much, much harder.
- Prioritise participant relationships, even as you grow.
- Create feedback systems to monitor participant satisfaction.
- Address issues quickly to prevent negative reviews.
- Be willing to not charge unhappy clients if your team has given them a negative experience.
Mistake 7: Failing To Upskill During Growth Phases
The skills needed to run your current NDIS business are different from those needed for a larger business as you grow. As your business increases, you need to grow too.
Training and upskilling are often overlooked, but they are key to handling growth challenges. Make time to learn so you’re ready for what comes next.
- Read books or listen to relevant NDIS business podcasts
- Invest in training programs for yourself and your team.
- Stay ahead of changes by continuously learning.
- Prepare for growth by expanding your skills.
Bonus Tip: Cost Blowouts
Growth comes with unexpected costs. As you expand, things like staff equipment, payroll tax, insurance, accounting fees, and even software costs will go up.
You will eventually need more space for staff, and resource expenses will grow. Plan for these costs so they don’t catch you by surprise.
- Plan for rising costs, like payroll and insurances.
- Know your expenses as your business grows.
- Budget for unexpected costs to avoid surprises.
- Spend money on things that deliver results – not just because someone asked nicely.
The Two Steps Of Success
Imagine your NDIS business as two steps on the path to success.
One step is getting your NDIS registration sorted—the foundation that lets you operate legally and effectively.
The next step is to focus on business growth—developing plans and building systems to help your business grow.
Without both steps, your business won’t grow. Get advice if you lack experience in either of those steps