Understand what it takes to know how to scale up your business and grow at a fast pace!
Every manager wants his company to grow in the market, right? To do this, understanding how to scale business can be of great help since there is no concrete recipe for success. However, it is possible to follow some steps that can help you succeed in this long endeavor. The first step is to remember not to hurry.
If you want to know more about how to scale your business up in a healthy way, check out our article! Taking the step bigger than you can keep up with can often result in great damage to the company.
Even while growing, the company must be careful and know how to scale up the business. It has to be done in a calculated way and you should be ready to deal with a greater demand, and eventually greater pressure from the public during the way.
What are you going to read in this article?
How to Climb Businesses?
There are two main reasons why a company fails in the current market: the lack of adaptation to the new format of consumption or growing faster than its capacity. So, these are the two issues that should be taken into account when learning how to scale up businesses.
Not to be part of the companies that start operating but fail, you have to be careful and not to hurry to avoid taking a wrong step. The corporation must grow up when it is ready for it. Therefore, it is necessary to be careful with the unrestrained hiring of new employees or to have excessive expenses with the acquisition of clients without having a product/service that is already ready to be commercialized.
In addition, to scale up a business, it is necessary that all the equipment of the company meet the demand. For example, it makes no sense for the sales team to promise that 1000 products will be delivered in 1 week if the company does not have that production capacity. That is why it is important to highlight that all departments must be aligned. Only in this way will a company scale up successfully.
A small example: Let’s say a company will hire 10 employees to increase the customer service team. That means it will take 10 more tables and 10 computers – outside the physical space. And of course, the salary and benefits of 10 more employees. This should all be taken into consideration before any decision is made.
Business scalability: Do more with less
To succeed on this journey, you need to do more with less, which means: optimize your production. Both the machinery part and the part that involves human labor. This reduces the use of resources while achieving additional gains. How can this be done? With good equipment, well-trained teams aligned with the company’s goals. To do all this, you need to know: where to invest and how much to invest.
If you want to increase your revenue and expand your business without increasing your expenses to the same extent – that is, applying scalability – there are some information that you need to know. To explain this, we have separated some steps that may help in the scalability work. Check out:
1. What is your goal?
Define your goals clearly and concretely. For this, you need to know your company deeply and define what your scalability goal is:
- In how much time do you want to achieve this goal?
- How much can you invest to achieve this goal?
- How much should your teams produce to achieve this goal? How do you get them to produce this number X?
To get to these numbers, review your results from the past few months and use them as your parameters. In this way, you can see clearly which sectors are producing more effectively. Define what you want to achieve from now on: plan and organize your tasks. Take advantage of the tools that the internet offers you to have organized work methods. Have this data documented and scanned. So that you can update them and access them whenever necessary. This action also makes it easier to see what still needs to be done.
2. Who is your client?
To grow, you need to know if there will be consumer demand. To do this, you need to know your client very well. And how can you do this? By creating an ideal persona of your business.
Defining the persona is more than knowing in a broad way who your target audience is. The persona helps to show exactly who you should build your content for and thereby increase the chances of engaging your audience and attracting customers.
3. What is your differential?
To stand out in the market, you must know your differential. This is what will make the market choose you instead of the competition. To define your differentials, apply the following steps:
- Analyze, research and know your market;
- Know your competitors – the strengths and weaknesses of each one;
- Find out what the needs, wants and difficulties of your audience are. What will you offer to them that other brands still do not? A better price? More personalized service? A higher quality product/service?
4. Use the internet in your favor to promote your business and win important partnerships
Invest in a good website, blog and social media management. It is through these channels that the market and the customers will know about your company. This will give you channels to win over a new audience and make interesting partnerships for both sides. In addition, social networks are free and reachable for everyone. Some of the good and bad sides of using internet as your ally are:
- The good side is: Your information will be reachable by the public without you having to invest heavily;
- The downside is: If your networks and website look amateurish, they will not convey trust. That is why it is important to give the internet and its thousands of tools their due value.
Analyzing the results of accelerated growth
Now that you already know how to scale up your business in a healthy way, are you ready to invest in these actions? Do you have any questions about this? Contact us!