Top 5 Strategies for Scaling up Your Company
Successful companies have used these strategies since ancient times
It is a common misconception that scaling up a business is only for the rich and famous. In reality, it’s one of the most effective ways to increase revenue and profit.
Successful companies have used this strategy since ancient times. For example, Caesar Augustus built Rome from a city-state into an empire with a population of more than 1 million people during his rule from 27 BC to 14 AD — a staggering achievement at the time. The Romans had everything going for them: military might, engineering know-how, organizational skills, and more money than they knew what to do with… But there was one thing missing: innovation. Innovation played a key role in their success because without it they would have been stuck in a place where all other empires were at the time.
The process of scaling your company isn’t easy, but it’s worth it in the end if you follow these steps:
1) Hire Talented Individuals to Work with You and Who can Boost Your Company’s Growth
Hire talented people and make sure that they know how to play nicely with others because working at a large company has its downsides, too. Often times more people means less communication and opportunities to learn new skills that could help your business grow even bigger than it already is.
2) Adapt Your Business Strategy to Fit the Needs of New Customers
Customers are different everywhere you go — and so is their way of thinking. The best way to please them is to create a completely new and unique experience that allows them to enjoy using your product or service.
3) Get the Perfect Balance of Big-Company Resources Without Losing Your Small-Business Soul
Even though you are now dealing with millions instead of thousands, don’t forget what got you all the way here in the first place. The way your business is run might change a little bit when you scale up, but it’s important to remember what made you successful in the beginning.
4) Outsource the Jobs That Your Employees Would Previously Need to Worry About While Still Getting Great Results
No one wants to be frustrated by red tape and busy work at a growing business, and it’s important to get projects done on time while still doing quality work. There are many ways you can outsource jobs (freelancers, virtual assistants), but make sure that they fit your company culture and will give you the results you need in a timely manner.
5) Take Advantage of New Opportunities by Getting Your Company Out There
As your company scales up, the ways in which you can do business change. You don’t need to be everywhere and participate in every single activity out there — that’s not what scaling is about. Rather, think of scaling as a way to get bigger and better results than ever before, and spread your reach globally like never before.
Scaling up is one of the best ways to get more done, get noticed by bigger clients and consumers, and bring your business to the next level. Keep these five strategies in mind for a successful scaling experience.