The prospect of scaling your small business can be intimidating. However, with careful planning and preparation it is possible. Scaling a business allows you to grow your company while maintaining your original level of quality and service. Here are several tips on how to scale your small business quickly.
Create a Plan. As you are beginning the process of scaling your small business, set aside time to evaluate where you are and how you want to grow. Consider the previous six months of profit and expenses. How would these numbers change if your sales doubled in the next 30 days? How would these numbers change if your sales tripled in the next 30 days?
What staff and systems would you need to handle these doubled or tripled numbers while maintaining your original level of quality and service? Create a plan that addresses these potential pain spots and growth opportunities. The more detailed your plan, the easier it will be to implement, and the more likely it is to be successful.
Quality Staffing. Oftentimes the success of your scaling efforts depends on your staffing. Hiring too many people in a short amount of time can lead to a poorly trained team who lacks the vision of your company. Hiring not enough people can leave your current staff stretched too thin to successfully scale your small business.
Consider these questions as you determine your staffing needs for scaling your small business:
- Have you hired the right employees to transition from where you are to where you would like to be?
- Have you provided sufficient training for current and new employees?
- Are there roles that can be outsourced instead of hiring new employees?
Develop Duplicatable Systems. Take time to create systems that other employees are able to execute. If all the systems for running your business are stored in your head, it will be incredibly difficult for others to execute them, and scaling your small business will be a challenge. Instead, take the time to write up your systems and processes, so future employees can implement the strategies.
Invest Efficiently. The old adage says, “It takes money to make money.” There is a lot of truth to this, but poorly spent money often leads to worse outcomes than not spending money. Before spending money to scale your small business, consider how the money will help in your efforts to scale. Investing in technology can help you reduce costs with more streamlined systems. The right technology can also help you automate some of your systems and processes to save on costs.