Scaling your business refers to the capability of a startup to cope and perform under an increased or expanding workload. Every business starts out as a startup but one that can increase its revenue while still managing to keep its operating costs at the same or only minimally higher is a business that has excellent scalability. Being able to scale your startup requires certain infrastructure in place. Here are the top five ways to scale your startup in a month.
1. Have A Clear Vision
For your startup to succeed in the market and for it to be a sustainable business, you need to have a clear vision and an understanding of your company’s identity. This means knowing what problem your startup seeks to solve, what your vision is for today and what your goals are for the future. It may sound cliche but the key to a successful business is the passion and purpose behind it. If you become too bogged down in simply growing your company and making money in the early days of your startup, you will start to lose track of why you started the business in the first place and this will only have a negative impact on your scalability. In order to be scalable, you need to be able to identify opportunities, evaluate your competitors and prioritise different tasks for the business and this requires an understanding of your vision. Without a clear vision, you won’t be able to adapt to changes in your market landscape. In order to start scaling your startup in a month, you need to lay out a clear vision to yourself and to your employees.
To know whether you have a clear vision, test whether you can tell someone else the vision or the unique selling point of your product in one simple sentence. Being able to efficiently and quickly differentiate yourself from other brands is one indication of your company’s scalability.
2. Automate Everything
If you want to focus on scaling your business in a month, you don’t want to be spending time doing menial tasks over and over again. Embrace standardisation and automation processes that will make many aspects of business life much easier for you. This means setting up things like marketing automation, payroll and bill pay, online storage and training processes. By doing this you will have more time to focus on important tasks and you don’t risk forgetting to pay an important bill or even worse, employees. With automation processes in place, you can market better, find data faster and work more efficiently. For example, this is why many startups opt to use cloud-based platforms so that they can manage their business in a more convenient way, allowing there IT systems to be more prepared to deal with rapid growth.
3. Let Your Customers Do The Talking
The rise and rise of social media has meant that customers have a greater influence than ever in terms of being able to share their opinions about companies, speak to companies directly and tell others of their experiences. Many potential customers are now more likely to read reviews and listen to other customers rather than buy into brand advertising. If you want to scale your startup in one month, you need to first ensure that your product is ready and that is something your customers need to tell you. When testing your product or first starting out, make sure you are properly listening to the feedback of all your partners and using this information to tweak and finetune your product. Once your initial customers seem happy with the products, highlight their positive feedback rather than pushing your own message or telling users why they should buy your product. Get the customers to do the talking for you. Encourage customers to review the product and to post about their experiences as this will be far more effective in accelerating your brand, essentially through word of mouth, rather than advertising.
4. Hire Top Talent
You may be the brains and the vision behind your startup, but sadly you can’t scale a startup alone. You need staff who are just as invested as you are and have the right attitude when it comes to achieving the objectives that need to be achieved. Attracting talent to a little venture can be tricky as financial rewards aren’t always an option you can offer. Instead, find other ways to hire valuable employees such as a compelling mission and vision, room for growth, matching their aspirations, flexible working hours and bringing them in as co-founders. When looking for staff remember that they will be the ones representing your brand, interacting with your clients and performing day-to-day operations. Making the wrong hiring decision can affect the productivity of your company. The staff you want to be hiring are those with initiative, drive and passion who fit the culture you want to create in your business. Personality and skill should both play a role in your decisions.
5. Stay Lean
Scaling means not having any expenses that you don’t need or added costs that are going to minimise your profits. As a small business, you don’t need to hire in-house lawyers, web designers, accountants and SEO specialists. Instead, outsource roles that are not essential while your startup is still in the early days and find staff that are skilled in different areas, for example, have knowledge of SEO, marketing, content writing and handling communication channels. Eliminate any activities that are not adding value to the business. Be conscious of overstaffing and paying for services you could do yourself. Remember that scaling is about creating a business that functions efficiently as it grows.