Scaling Up in Business

Scaling Up: Three Measures You Should Know to Grow Your Business Effectively

Is your company planning to scale up? Are you prepared to tackle increased workload? Is the business ready to handle more demands from existing and new customers?

There comes a point in time when most entrepreneurs choose to grow their business. Sometimes, it is because the business is not big or efficient enough to meet growing demands. Sometimes, it is simply because most business owners are big dreamers – they look forward to a greater future for their company.

With this clear vision of success, smart business owners put measures in place very early on. This makes it easy for them to scale the business efficiently without losing focus on the company’s core activities. By planning for growth at an early stage, business owners and their team are able to adopt processes and practices they needed to manage increased demands and operations.

“Scaling effectively means anticipating demand, not reacting to it” – Jason Albanese

That means the best time to think about scaling up your business is before you even need to do it. The earlier you get into this scalability mindset, the better you will understand and apply the essentials to growing your business exponentially. Follow these action steps to prepare your startup or small business for the realities, challenges and constraints of scaling up:

1. Implement systems and processes from day one.

Have you documented the way you do everything in your company?

If not, start recording all essential procedures in your business. Make sure that all tasks performed are properly done and documented. Take screenshots of company procedures or record tutorial videos of crucial business processes that are followed by all on a daily, weekly or monthly basis. This ensures that all team members are clear about the company’s standard systems and processes. Should roles evolve or should a team member take a vacation leave or resign, someone else in the organisation can step up to the role and complete the tasks for them.

2. Adopt a comprehensive Customer Relationship Management (CRM) System to record client and prospect data.

A business that thrives is one that focuses on the needs of its customers.

That’s why having an effective system in place helps you identify, understand and serve your ideal customers. Have one system to record all your customers’ contact information. This is massively helpful in tracking leads and conversions; facilitating sales and marketing functions; and developing a client profile of needs, traits, and special requirements. Eliminate the guesswork and back up your plans with solid customer data.

3. Automate processes.

Automated bookkeeping and invoicing is incalculably useful for business owners who want to speed up their cash flow.

These days, it’s possible to receive on the spot payments from clients through your laptops, tablets, and smartphones with credit card, PayPal and other online payment systems accessible 24/7. Workflow management and time tracking can also be automated. Communication between employees is more efficient these days with instant messaging and team management systems such as Skype, Slack or Fleep.

Which of these steps have you taken to prepare for scaling up your business fast and profitably?