Most, if not all, entrepreneurs, dream of seeing their businesses grow and prosper at rocket speed. Now in this quest, one certainly cannot overlook the onset of all those problems that accompany a growing business.
So the question remains: How do entrepreneurs scale up their businesses without burning holes in their pockets? Here are six meaningful ways you can scale your startup starting 2017 and beyond. These tricks do not include any rocket-science whatsoever.
Slow and steady wins the race
Yes, you got it right! We are talking about growing your enterprise. Though this might sound counterintuitive, but sometimes all you have to do is to slow down a bit and focus on your core operations.
In order to scale your business in an effective manner, you ought to ensure that your core processes run seamlessly. And by slowing down, business leaders can spread their beliefs and ideas among their people and customers in a more cohesive manner than, say, scaling up rapidly, but without focus.
If you choose to grow your business without getting the basics clear, you might end up communicating the wrong message about your brand, and eventually blowing your market repute.
Test, test, and test
Prior to taking your startup to the next big level, it is advisable to understand what works and what doesn’t for your business. And the most fruitful way of figuring this out is by regular testing and monitoring.
Are you aware of your market and its preferences and tastes? Is your audience responding well to your services and products in the best way, or do you need to make few amendments?
Surveying the markets and your audience on a regular basis for your services and products would help curb a number of risks well beforehand.
It is not necessary to use the trial and error formula. By running website tests and monitoring your marketing channels, accompanied by market research, you can avert a pool of troubles that can pop up over time.
Automation: the need of the hour
Are you still wasting your crucial time executing key business operations manually? If yes, then you are certainly not in for scaling your business.
Today we have a whole world of cutting-edge automation tools and platforms to help manage employee information, marketing operations, etc. — all within arms’ (or fingertips’) reach, accessible at the click of a button.
So if you are yet to make friends with automation technology and tools, then it’s high time you do it now, so your business can scale without the headaches and hassles associated with managing a bigger organisation.
Company culture is the cornerstone
Today, organisational culture is not just a trendy term, and it has become more important than ever. It’s no surprise that failure or success of a business relies greatly on its employees. This stands true especially in a time when a major chunk of workforce is dominated by millennials. This generation is digital-native, always-connected, and people care about more than just the paycheck.
For example, Facebook and Google are often cited as the best organisations to work at, simply because of their friendly and flexible workplace culture.
Thus, if you wish to attract as well as retain the best talent for your company, you ought to create a top workplace for them. Scaling your startup becomes an easy feat to achieve if you have a rockstar team at your disposal.
Spruce up your marketing endeavours
Irrespective of whether you have the best-in-class service/product or the other way around, if the audience is unaware about it, your business is certainly heading into a black hole. A number of startups and enterprises tend to commit the grave mistake of scaling their business with a dreary marketing plan.
The best you can do is to fuel up your marketing efforts. Never commit the mistake of cutting your marketing budget unnecessarily. Never wait for things to turn perfect to spruce up your marketing efforts. Simply put, focus on your marketing now.
Never underestimate the power of technology
Even if technology is not your forte, you ought to keep abreast with emerging tech trends to scale your startup efficiently.
For instance, mobile has overtaken desktop, in terms of internet usage. This means your business needsa mobile-friendly website. Otherwise, you are missing out on a big chunk of potential eyeballs and customers.
Scaling a startup is no easy feat, since it requires a sound business plan/strategy, teamwork, and right set of technologies at your disposal. Following the aforementioned six ways would help you avert some of the root causes of burnouts paving way for growth.
Last but not least, keep patient and build a team you can trust. After all, Rome wasn’t built in a day.
This article, entitled “6 foolproof ways to scale up your startup in 2017 and beyond” originally appeared on e27.