So, your business has been pretty steady for a few years now and you're ready to scale up. It can feel like a scary leap to take if you have never done it before but we've compiled a handy list of top tips that will help you along the way.
1. Find out what you want to be
Figure out where you want to be in a year, where you see your business going and what type of turnover you want. When you scale up your business, the decisions you make will be different, the way you think will be different so you'll need to start changing your limiting beliefs about yourself and the business. If you want your business to change, you have to change. If you want your business to grow, you guessed it, you have to grow.
2. Prepare the groundwork for growth
When its time to scale up, you're going to have to prepare the foundation so the business can handle it. At this time in any business is when cracks start to show, weaknesses become more visible and it's not so easy to fix them on the way up. You'll want to make sure that everything is in place before you start to scale up.
3. Look to your competitors for inspiration
Check out what your competitors did when they scaled up.Find out how they started and what steps they took to scale up. What was their annual turnover before and after the scale up? How many employees have they hired since their growth? How has their business model changed?
4. Remember your roots
When you begin to scale up, it can be straightforward to forget your business values. You're attention and time will be used elsewhere so be prepared for your priorities to change, but your business values shouldn't take a hit because of that. Remind yourself of your initial manifesto and why you started the business. By doing this, you'll be able to adhere to your business values and stay on track for growth.
5. Build a team that you want to work with every day
When you scale up, your team will grow too so you'll want to be surrounded by people who understand your vision. Create an environment for employees where they feel valued and heard. When you create a culture of inclusivity and fairness, employees are more likely to go the extra mile for you. They'll want to excel and when your workforce excels, so does your business.
6. Delegate to outside help
Sometimes recruiting new employees isn't an option when you're trying to scale up. Find help outside of your business to help with your growth. This not only saves you a pretty penny at times but also gives you the extra time you need to focus on scaling up rather than being bogged down with the day to day running of the business.
7. Determine what barriers you have
You'll need to understand what obstacles you have that are stunting your growth. Many common barriers are lack of funding, lack of self-belief, lack of knowledge and lack of leadership skills. You've got to be honest with yourself and figure out what is or could potentially hold you back in your scaling up the journey.
We can't always predict the future, but putting a plan in place and working with what you have right now can give you a clear picture of where you need to be and what you need to do to get there. Scaling up isn't a walk in the park, but with the right preparation and groundwork, you really can begin your journey of growth.