How well you handle the transitory scaling period can determine the health of your business for years to come. Get it wrong and you could be playing catch up with your new duties or might find yourself wasting money because you overestimated your needs. Here, we’re going to look at how you get it right with the most efficient scaling methods possible.
Crunch the numbers
Before you make a single move or spend a single penny, you should figure out exactly how much the scale is going to cost you, or as close to as possible. Not only will this help you ensure you spend your cash wisely, but also makes it much easier to put together a strong business plan to win over funding providers, such as banks and investors.
Emphasize efficiency
While looking at new duties your business will have to take on, whether you’re targeting a new demographic or providing new services, you should look at streamlining the existing business as much as possible. The more efficient you can make your current position, the easier it becomes to add those new workloads in the most cost-effective way possible. You might not need more staff, you might need to streamline your current team, so they can do more.
Take the effort out of acquisition and retention
As you grow, you need more customers to convert and stay with your business, so you can make the business able to handle the new costs. For that reason, look at implementing marketing strategies and customer service tools like CRM software that helps automate a lot of the customer engagement side of the business. Make it easier to both win and maintain a larger number of clients or customers.
Look outside the business
It’s easy to make the mistake of believing that all your scaling has to happen in-house. You need new workers to take on the larger duties of the business, but you could make it much easier by outsourcing. This article shows the benefits of working with entire offshore development centers in the case of software development companies. You can make your business much easier to manage as it grows larger by looking outside your team as well as in-house.
Turn your team into an organization
As a business grows larger in terms of the number of people working within it, it also becomes harder to manage effectively. Finding leadership and management roles, creating divisions and departments can all make it easier to figure out who has authority over who, the lines of contact, and how to cooperate better. For that reason, creating an organizational chart as shown in this post is a very wise move.
By cutting the inefficiency of your scaling, it makes it much easier to get your new, improved business on its feet and to get rid of any downtime that could be costing you money in the process. Make sure you plan as much of the scale in advance as you can, so all the parts come together when you need them most.