What is business scaleability? This is the ability to adapt all aspects of your business as it grows, including accounting and marketing provisions.
You can imagine a bright future, whether you are an entrepreneur or just starting to build a business. Ambitious people always aim for the stars. Small business ideas can turn into big enterprises.
We must admit that some concepts are more scalable and expandable than others. Consider the following factors to help you estimate your chance of real growth:
8 Ways to Build a Scalable Business
1. Your Business Scalability
Take a look at your current business. Scaling is difficult if the business is built on the owner’s specific skill or talent. It will only expand within the capabilities and endurance of its owner.
Expert services are nearly impossible to scale. Although the skill can be learned, training and quality improvement require time and resources.
One is all you need to build a truly scalable business, with low-margin costs while increasing revenue, It works quickly and requires less effort from the business owner.
Also read: 10 Important Things To Do Before You Connecting With Investors
2. Investors Acquisition
For investors, the best ideas for small businesses are scalable. Sponsors will be attracted to startups with high growth potential.
The most powerful players are not content with mere words. They trust a solid business plan and financial model. Low support, high profits, and minimum employees. These are the most important criteria to attract investors’ attention.
What is the maximum number of markets you can market your product in? Startups that are able to go global can be funded by investors.
Make sure your business concept is appealing to sponsors. Let us help you find an investor and how to finance small businesses.
3. Partnerships
Establish a trusting business relationship with market players.
As green implementers of small business concepts, you can share your experience and discuss the issues. Outsourcing and collaboration reduce costs and allow for more time for business development.
Nike and Apple signed a partnership in 2006 This union includes fitness devices that can connect to one another.
Partnering with market players is a forward-looking strategy, it is more beneficial than trying to outdo them. Franchising is another proven way to scale.
4. Marketing
If you want your small business or organization to be a market leader, don’t hesitate to implement a marketing strategy.
It is not about local promotions and advertising campaigns that are helpful to attract clients right now. It is about becoming a global market participant and accessing business conferences and workshops. These are great places to meet new people and network in different areas.
Meetup.com offers relevant events in your area. LinkedIn is a great platform for information, communities, and events.
Invest in your brand. It’s a valuable asset that shows who you are and what your unique selling point is. It should be easy to see but not overpowering.
Marketing is an ongoing process. You can keep updating your product lines to attract new customers and innovate. Get feedback from customers and follow up with them. Trusted people buy. You don’t have customers if you don’t have customers. “You have a hobby.” (Don Peppers and Martha Rogers, Return On Customer).
5. Automated Solutions
Assess your business processes. Automating repetitive steps and circular activities can help you save time. This allows you to focus on your business growth.
Carla Martinez, an ex-PM at HICKIES (sneakers shop), shared her success story about scaling because of “automating everything”. HICKIES used Zapier software to automate workflows. Zapier automates data transfer between web apps without any additional programming. All processes were speeded up.
A business that provides service is built upon a team of experts, their workload, and efficiency. When scaling this type of business, entrepreneurs should be particularly focused on automation. Automation can bring in more revenue while requiring less labor.
6. Stable Base
It is a good time to start investing in a solid foundation when a new business is being launched. Avoid quick and cheap software solutions that are not strong enough to support a growing business.
An ERP system, eCommerce software, or communication platform that is effective can automate most business processes. This is the core of business scalability.
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7. The Team
You have no doubt put your heart into the realization of your small business plan. But, a large company can be overwhelming for the owner. It is impossible to control everything and be everywhere. Scalability means that you are less involved with the business’s processes. Your role becomes more of a high-level supervisor.
It can be a customized communication solution to suit any business size or type. It is a cloud-based, unified platform that allows for reliable management of calls and e-mails as well as to-do lists. There are many useful features such as conference calls and activity queues that can be accessed and used.
8. Education
Investing in your employees’ education is one of the most powerful strategies that a business owner can use to grow their business.
This asset can be developed by sending your team members courses and workshops. They will become dedicated specialists who will use their knowledge to benefit your business. You will see your team feel as though they are growing and developing in the direction they desire, which will encourage them to stay on the job and do more for the company.
Examples of Scalable Businesses
- Software – A classic example of a scalable company. Additional copies can be released at much lower prices once the product has been finalized.
- eCommerce – Any product or service that is offered via the internet can be scaled. You can deliver information business, webinars, and some types of consulting services to large audiences using a Skype microphone and camera.
- Replicate products — look similar to the bullet before. Online stores are now more competitive than shopping malls. Scaling opportunities can be found in two areas: expanding delivery regions and increasing product variety.
- Social media – Facebook, Twitter and Instagram. Every new platform to share photos and impressions seems to be welcomed. Periscope, a global video-sharing platform, and The League, a dating app for the elite, were both launched in 2015.
- Downloads – music, books and applications have similar scalability to software. An app that was once released can be downloaded thousands of times per day.
- Line production and franchising – Most processes involved in line commodity production can be automated. While the net cost of production is low, it’s important to maintain high quality. It is important to exceed clients’ expectations. This builds loyalty. A person will return to McDonald’s expecting the same Big Mac as the last time they visited. Ray Kroc established a minimum standard for every burger, including the weight, sauce quantity and fat content.
