Three Important Factors to Consider While Scaling Your Business

[Mika]

In order to scale your business, you need proper planning and strategy. Not just the idea in your mind, but a complete step-by-step process in black and white (writing). When you write what you are going to achieve by scaling your business and how you are going to achieve it, you will have clarity on how you can actually scale your business, how you can widen your market and reach more customers, and how you can generate more sales, and how you can build a successful business.

Chart of Accountability: You should also include a chart of accountability. This chart will show who is responsible for which tasks. The three important responsibilities are marketing and sales, operation, and finance.

Visibility Strategy: You should know everything about your visibility strategy. This includes how you will generate leads and how you are going to convert your leads to paying customers. Visibility strategy means how the customers are going to find your product and how you are going to establish connections with your customers.

Business projections: The business projections mean your sales projections, acquisition projections, market share projections, etc. It might be difficult to make accurate projections, but is it perfectly fine if you do not have realistic projections. What is important is you need a proper business projection.

 

[Jasmine]

These surely are three important factors to consider in order to scale your business. One of the major mistakes committed by small business owners is that they try to do everything by themselves. When you have a lot of responsibilities on your shoulder, you will not excel in any area. You need specialists to handle special functions like sales and marketing, finance and handling day to day operations.

 

[Deleted member 28127]

Chat of Accountability is most of the case an external service or an external company providing such tricks or recommendations or calculation for other companies that are in most of the time clients on this company which includes sales, operation, and finance and could even provide yearly charts on demand. For the strategy of visibility, it is up to the manager to make the daily meeting to prefix goals of the company and his increasing work. For business projections, it is not attempted most of the time but you have to reach at least 80 % of your goal to be successful.

 

[btaliat]

Just like the poster advises in the first paragraph, there is more to idea when trying to grow a business. We should not only depend on our ideas but proper planning and putting some strategies in place for the achievement of the stated goals.

The first thing to do to ensure proper scaling is to ensure that we have done a lot of research about the business. We can do this by employing some people that are expert in that field if only we can't do it on our own. The more we know about a business, the more money we are likely to make in it.

Having a good staff helps in long way in making sure that we know more about the business. A business owner that's dreaming of being successful will surely need the help of others while dreaming of being successful. Therefore, there is need to seek the hands of visionary workers while trying to establish business.

There is also the need to include the relevant and modern technology into our business. This will not only make our business looks modern but also make it effective and efficient and hereby affect the output.

 

[Sotherefore]

For me I consider advertisement and management as the best strategy for businesses because when these things are in their right position , the possibility of business success will be higher compared to when they are not available, in every business organisation advertisement should always be the most important thing and when proper advertisement is available there is a possibility of business success because the advertisement itself-will expose the business to thousands of people that might really be interested.

Naturally we should understand that most businesses won't likely be successful when it is not being exposed to thousands of people either on social media or radio and any other means of passing out information.

And also with proper financial Management in a business organisation it will be possible to manage the little resources that is available in the business for proper utilisation which can also help in the progress of a business.

I believe that in the modern days if all these things are not being put into consideration most business may not likely be successful because no business in this era can really survive when they there is no advertisement and good financial Management.. This is for business owners to decide .

 

[Kingsley]

When you say scaling I believe you are trying to say evaluating one's business if their are deviation from the original standards and if the business may require restructuring. If that be the case then there is somuch to be done in other to scale the perdormance of the business to see if things are on the right track. I believe every business venture will definitely have a vision, mission, aims and objectives. If this things are in place then it will be easy for a business venture to work according to the lay down rules and regulations.

When we look at the theory of division of Labour as propounded by Adams Smith we will discover that the essence of this theory is to bring about specialization and to also make the job process much more quicker and easy as everyone will have a clear cut job descriptions . This again will aid an easy job scaling and evaluation. It will make it easy to make an appraisal as to the performs of each unit within the business organisation. All we need do is lookout for areas of weakness and strength within the business organization by going to the specific units.