Monday, March 18, 2019 02:00PM / Content
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The difference between a small business and a profitable fortune firm lies in the right timing, having the right people and intense hard work. Remember all important companies were a startup at one point and were built and guided by a team of pioneers.
Even though statistics and the media claim that most startup businesses don’t make it to the third year, there are plenty of opportunities such as the ones on Investors Hangout that you undertake and succeed.
We will look at five ways that you can rapidly scale your business and set a stage that will support the growth without being hampered. Scalability is about capacity and capability. Here’s a preview of what you’ll need to do to grow your business right now.
· A Plan
· Employ the right infrastructure
· Sufficient qualified team
· Proper business systems
If your company can't meet customer demands, your orders may fall through the cracks and your business to stumble and the result will be unhappy customers. Manual process can hamper growing establishments. Therefore, you'll need to automate all operations so that you will move fast.
You can use the following key lessons to scale your business and fuel sustainable growth successfully.
1. Simplify Complicated Processes
Successful entrepreneurs and CEOs keep complex processes as simple as possible. Complex processes steal time and slow progress with more meetings, more people in the workflow, more explanations – it’s just complicated! For a business to grow and scale, the strategies must change, and all operations simplified with clear and well-communicated business goals.
Injecting money is critical in the growth of any business that wants to scale and have sustainable growth. To deploy technology, add equipment and facilities, you will have to invest money. There are some sources you can consider like bank credit or small grants.
3. Delight Your Customers
Retaining old customers is as essential as acquiring potential customers. Therefore, make every effort to deliver quality experiences. A delighted customer will offer positive reviews about your products or services. Also, personal recommendations from friends and relatives are a worthy way to procure more business.
4. Strategically Outsource For Partners or Invest in Employees
There are two distinct strategies when it comes looking for people to carry out the tasks at hand. First, if you have a constrained budget, you can outsource or look for partners rather than recruiting. On the other hand, you can hire smart, talented people who can handle various tasks effortlessly. Also, invest in your employees to help them grow and attract high-quality talent who are more dedicated.
5. Involve Yourself in the Business
Now, just because you have the right people, infrastructure, streamlined processes, and everything is working to scale your business to the next level, it's not time to sit back and tune out. Be sure to stay tuned into your company and try to identify every crack that needs change or adjustment.
Scaling a business isn't a straight line to the top, but it’s a slow premeditated climb that requires you to invest your time and money.