How to Scale Your New Business in 2023
By VICKY BROWN
Scaling and growing. They’re actually two different things. One is more linear. When you grow, you add resources, in the form of money or team members, or technology –to support the service of additional clients. But, in contrast, scaling is when your revenues increase without significant increases in your resources. You’re leveraging resources instead of adding to them.
So you’ve decided that scaling your business up is the thing for you. Alright then – let’s get to it!
First, let’s lock down your business model. Think of this as your business’s game plan. It’s how you create value and make money. And guess what? If you’re looking to scale your business, you really need to get this nailed down.
Start with the value proposition. This is basically the special something your business brings to the table. What makes you different from all the other businesses out there? Your unique value is your edge in the business world, it’s what gets you noticed.
Now, let’s move on to your target market. This isn’t just anyone who might buy your product or service. Nope, it’s a specific group of people that your business is really focused on serving. We’re talking specifics here – what age are they, where do they live, what’s their lifestyle like, and even how they make buying decisions. Knowing your target market like the back of your hand means you can tailor your products and services to fit them just right.
Now, when it comes to growing your business, technology and automation are your best friends. So why’s tech so crucial? Well, think about all those routine tasks that eat up your day. Checking emails, scheduling appointments, updating your CRM, the list goes on. Now, imagine if all those things could happen automatically. Sounds good, right?
That’s where automation comes in. With the right tools, you can automate tons of those time-consuming tasks, freeing you up to focus on the big picture stuff – like how to grow your business.
And it’s not just about automation. Investing in technology means looking at cloud-based solutions too. Because as your business grows, your systems need to be able to grow with it. And trust me, you don’t want to be swapping out your whole tech setup just when things are taking off. Cloud-based solutions are great because they can scale with you. Need more storage? More users? No problem.
So, to all you entrepreneurs out there – don’t skimp on the tech. It can make your life a whole lot easier and your business a whole lot more scalable.
Now on to the behind-the-scenes stuff that really makes a business tick – systems and processes. Now, I know what you’re thinking – systems and processes might sound a bit dry, right? But trust me, they’re anything but. As your business grows, these things become your secret weapon. They’re what keeps everything running smoothly while you focus on the bigger picture.
What are we talking about here? Well, things like standard operating procedures, or SOPs for short. They’re basically your playbook – step-by-step instructions for how to do key tasks in your business. It’s how you make sure everything gets done right, no matter who’s doing it.
“… One thing you don’t want is for the quality of your product or service to slip as you’re scaling up. Because nothing – and I mean nothing – can damage your reputation faster than a drop in quality.“
And let’s not forget about onboarding processes. You remember starting a new job, right? All the stuff you need to learn, all the paperwork – it can be overwhelming. Having a solid onboarding process in place makes life easier for everyone. It’s how you get new team members up to speed quickly so they can start doing their best work.
Same goes for client management systems. As you get more clients, you need a way to keep track of everything. Who needs what, when, and how you’re going to deliver it. That’s where a good client management system comes in.
So absolutely, systems and processes might not be the flashiest part of business. But they’re crucial for efficiency and consistency, especially when you’re looking to scale.
No business can grow without a fantastic team behind it. That’s just fact. But finding the right people? That’s an art. You’re looking for folks who’ve got the skills you need, sure, but that’s just part of the equation. You also want people who share your company’s vision and values. Because skills can be taught, but passion? That’s something you’ve got to bring to the table.
Once you’ve found those amazing people, you’ve got to hold onto them. That means investing in their growth – helping them to learn and develop, so they can do their best work. And it also means creating a culture where they feel valued and want to stick around. Because trust me, constantly hiring new people is a drain on time, money, and morale.
So, as you’re scaling your business, don’t forget about the power of a great team. It’s the people who make a business successful, after all.
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Next, we’re diving into a topic that’s super important for any business looking to grow: Quality Control. Yeah, I know, it sounds a bit like corporate jargon, but hear me out.
Quality control is all about making sure your product or service stays awesome – consistently awesome – even as your business grows. Because let’s face it, as we start to serve more customers, things can get a little chaotic, right?
One thing you don’t want is for the quality of your product or service to slip as you’re scaling up. Because nothing – and I mean nothing – can damage your reputation faster than a drop in quality.
So, how do you keep your product or service consistently good? Well, you’ve got to have solid quality control measures in place from day one. This could be things like regular product inspections, customer feedback loops, or even investing in quality assurance software. Basically, anything that helps you catch any dips in quality before they become a problem.
Remember, your customers are the lifeblood of your business. They chose you for a reason, and a big part of that reason is the quality of what you’re offering. So, make sure you’re giving them the best – consistently.
And here’s a really fun one… measurement and analysis. Now, I know you might be thinking, “Oh no, numbers, data, scary!” But stick with me. This stuff is gold when it comes to growing your business. Because to improve anything, you first have to measure it.
Here’s where key performance indicators, or KPIs as we call them, come into play. These are like your business’s vital signs, showing you what’s working well and what might need a bit of TLC. KPIs could be anything from sales numbers, customer satisfaction scores, to website traffic – whatever is important in your business.
But having numbers is just half the battle. You also have to dig into them, analyze them, understand what they’re telling you. This is where analytics come in. They help you understand patterns, spot trends, and make data-driven decisions. That’s right, no more guessing!
Remember, the goal here isn’t to become a data scientist (unless you want to!). It’s about using data to inform your decisions and make sure your business is on the right track.