A small business will inevitably grow as you become more successful. And when the time comes, you need to be prepared for it. This is known as scaling and can be an ongoing process for the remainder of production. Here are some tips for scaling your small business properly.
Improve Company Comms Capacity
If you have been around for a while, it’s more than likely your communication system is outdated. This is one of the key things you must invest in and scale according to your business needs. You should also build in room for growth when you next upgrade your systems. Common business comms systems include using intercom conversion for multiple devices such as walkie-talkies, on-site loudspeakers, and even phone systems across one or more properties.
Make Sure You Are Ready for Scaling
Scaling can be a major shake-up to any business. When you begin to increase capacity and make changes to core systems, you will immediately notice your problem areas. So you must ensure you can handle changes to these and scale up things at the same time. These include:
- Making changes to your company network infrastructure and IT department.
- Using new technology, such as automation, to keep your supply chain running.
- Accessing more funds to accommodate scaling up from your business bank loans.
- Check lease agreements in case you need to switch your business premises.
- Ensure any scaling is done in line with compliance and with security procedures.
Of course, there are many more aspects to scaling your business. But these are some of the more common ones that small businesses don’t usually account for at first. But these are vital because IT, tech and funds essentially form the foundation of most modern businesses.
Scale Your Small Business Around Future Plans
It can be tempting to focus your attention on the immediate and make plans based on where your business sits right now. But when scaling, it helps to focus on where you want to be in the future. That is one of the main reasons for scaling in the first place. Of course, you can scale a business to meet growing demand. Yet demand can continue to grow. So you need to factor this into your scaling operation, such as space and IT equipment for future additional employees.
See What the Competition is Doing
You are never alone in a sector or niche. And there is always competition. In some cases, you are ahead of the competitors. Yet you may be behind. But that can change. Especially if you manage your scaling well. This is why it is vital to analyze your competitors for scaling. Look at the ones who have done it well and improved their services, products and finances. You can then take inspiration from their business model and values and apply them to your operation.
Make Time for Your Core Values
Scaling can highlight many issues within your company. And you will need to adapt and change your plans moving forward based on what you find. But it is essential that you always stick to your core values, beliefs and mission. You cannot let these change just because you wish to embrace a larger audience. After all, it is these core strengths and ways of doing business that has gotten your company to where it is right now. So never compromise yourself for money.
Retain the Best Team Possible
Like your core values, your team has also been instrumental in your success. And it helps to keep the best employees. Of course, you might need to be let go as your company goes through an evaluation as you scale. But retaining the most skilled and dedicated workers pays off in the end. And in the immediate, it will save you a lot, given that it can cost up to one year’s salary to find and recruit a skilled employee. Yet if your policies don’t align, let people go too.
Enforce Rigid Company Policies
Further to policies, your company should have many. Some are required by law, and others are determined by your core values and mission statements. It can be hard to get these right, but these must be enforced no matter the magnitude of your scaling operation. Some of these are:
- Providing health and safety at work above and beyond the minimum required by law.
- Ensuring you are always an employer that provides equal opportunities for all.
- Constructing a solid employee code of conduct that all staff must adhere to at all times.
- Laying out what you expect of staff in terms of their attendance at your business.
- Make it clear that employees know what to do when they are ill or cannot attend work.
- Set out full and clear procedures for discipline based on breaking company policies.
- A complete and full guide to moral and ethical practices across your organization.
It can be a challenge to develop these to a full and satisfactory level. But having policies in place means there is no confusion between you and your employees. Additionally, they help establish expected standards of behavior in line with the scaling framework of your business.
Don’t be Afraid to Outsource
Outsourcing can be a huge help to any business. And it is almost a necessity when scaling up. This is why over 90% of businesses outsource at least one core task. When you outsource, you gain immediate access to highly skilled and competent professional services. And it is also very cost-effective. For example, imagine you are scaling your office with no place for increased IT infrastructure. In this case, a managed IT service can provide everything you need to do this.
Uphold Your Corporate Quality
As is often the case, a business scales in operations and features, only for customer service to decrease massively. Some of the world’s largest companies are notorious for having terrible customer service. In this area alone, you can gain a competitive advantage by ensuring you never compromise on quality. Your employees and values are key to maintaining this. But you must also ensure your expansion can handle more customers and provide a better experience.
Analyze Where You Can Improve
Knowing what and where you need to scale your business is the foundation of doing it well. But once you begin the process, you will notice blockages and barriers almost immediately. These could be physical such as space and an inadequate office. But you can also highlight problems within your management system, corporate governance and even available funds. So it’s a good idea to include some time in your scaling plan to deal with issues for improving as they arise.
Scale Your Small Business According to Data
If you could predict the future, you would have the best business in the world. But of course, you cannot. However, one thing you can do is use tons of data to assess current trends and predict future ones based on these. Of course, data analysis is a skill in itself. But you don’t need all the data. You only require the right data. You can use data analytics apps and software such as Google Analytics, Zoho, and Domo to streamline processes based on real and live data.
Plan for Increased Sales
Some don’t like to admit it, but it is sales that make a business function. Without sales, there is no business. So you should always make a plan for improving sales when you scale. But also how to handle the increase in sales when your business has scaled. So, consider these:
- How you can build a reliable team of sales reps to handle more customers.
- Adapting your management methods to train staff to use CRM apps and software.
- Learn to understand customer behavior, collect feedback and react to it accordingly.
- Outsource call handling and other customer-related tasks to expert companies.
- Make sure you can offer good rates of pay to your valuable sales team.
Increasing the potential for sales potentially increases sales. But it is how you and your teams deal with this that drives the results you want. Scaling up means more decisions need to be made, so it helps to find ways to manage more supply, customer calls and sales volume.
Upgrade and Invest in New Tech
The world is increasingly more tech-based. And no sector is untouched by this. IT alone changed the world. But today, there are more exotic techs in use across many businesses. For example, AI, automation, and even VR tech are being used to better improve customer relationships. You can use any of these in your onboarding phase, managing payroll and even managing projects. What’s more, most modern clients also expect some of these to be offered.
Summary
It can be a big task to scale your small business. But if you manage it well, it can be fun, exciting and very useful. First, it helps to update your company’s comms systems. Also, ensure your company policies keep in line with scaling, and invest in some new tech to use at your business.
